2020 Could be the year you find your dream job!  

What could be better than starting the new year off in your dream job? We at Jobtracks want to help you achieve that goal for 2020. We placed hundreds of candidates last year and know we can find you a job that will make you happy. Best of all, with the rosy jobs, economy, and housing outlook for 2020, opportunities abound.  Below are some of what some of the experts are saying about 2020. 

Jobs

According to Kiplinger, jobs gains were surprisingly strong in November, showing the economy still has a lot of oomph left. 266,000 jobs were added in November. In addition, September and October totals were revised up. Most industries saw expansion. Hiring was especially strong in health care, social assistance, professional services, food service, and warehousing and delivery.

Monthly job growth in 2020 is likely to average 150,000 jobs per month, down from 180,000 in 2019 and 223,000 in 2018. Partly, that is because there are fewer available workers to hire, given the low unemployment rate. A low unemployment rate means a smaller pool of applicants, and a higher market value for those willing to explore opportunities. 

Wage Growth

Wage growth for nonsupervisory workers picked up to 3.7%. The share of prime-age workers (ages 25 to 54) who are employed is the highest since 2010. The unemployment rate dipped again to 3.5%, its lowest level in fifty years. The short-term unemployment rate (which tracks folks who have been unemployed for less than six months) is close to its lowest level since the Korean War in 1953. 

Interest Rates

Great news for the housing industry and all ancillary services. he Federal Reserve signaled that it wants to hold off on further interest rate cuts for a while. At its meeting this week, the Fed kept the federal funds rate between 1.5% and 1.75%. Fed Chair Powell expects that the economy has stabilized, but again emphasized that the future path of Fed actions will depend on events.

The bank prime lending rate sits at 4.75%, and average mortgage rates at 3.7% and 3.15% for the 30-year and the 15-year fixed rate, respectively. The decline in rates this year has aided the housing market – by making mortgages easier to afford – and perhaps consumers, but it will not boost business borrowing much because of all the economic uncertainty.

Housing

According the the Conference Board Economic Forecast, a sustained improvement in housing authorizations and starts, supported by lower interest rates, indicates that residential investment will also provide a tailwind for the US economy next year.

Existing home sales have continued their steady pace. The large drop in mortgage rates since last year, combined with slower house-price growth is proving a boost. Sales have risen mostly in the South and West. Builders are also confident in the single-family market because of the ongoing positive conditions for residential construction, with the NAHB/Wells Fargo Housing Market Index remaining at healthy levels.

Final Word

All of these positive indicators signal one thing...if you are looking for a job in title insurance, banking or credit unions, 2020 may be the best year ever to your dream job.

We at Jobtracks are always looking for talented candidates. If you want to find out what your market value is in 2020  or if you are interested in learning how we discreetly go about searching for the right opportunity for you, click the button below to set up a time to talk. 

Happy New Year!
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