Even on the heels of the longest U.S. government shutdown in history, the labor market is thriving.
“The job market is extremely competitive right now,” said Michelle Armer, the chief people officer at CareerBuilder.
In fact, last year there were more openings than there were people looking for jobs. And employment in the private sector increased by a better-than-expected 213,000 jobs in January alone, despite the partial shutdown, according to ADP and Moody’s.
The unemployment rate is now at 4 percent, not far from its lowest point in five decades, according to the Labor Department.
But more people are also looking for work. The number of Americans filing applications for unemployment benefits surged to near a 1½-year high last week, which raises some concerns that the labor market will slow.
“We have to acknowledge that we are in the late innings of the economic expansion,” said Mark Hamrick, the senior economic analyst at Bankrate.com. “But it’s a little like a party when the lights haven’t turned off yet; we have to enjoy it while we can.”
Until then, there are still many job opportunities out there, although not necessarily across the board — or across the nation.
“For most, it is a great time to look for work, particularly for those who have in-demand skills and work in locations where the regional economies are robust,” Hamrick said.
To make the most of today’s market, CareerBuilder identified the top three jobs each state by wage category and the skills required to land those positions. (See the chart below.)
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