A low unemployment rate means that most people in the US who want jobs have them. It’s good news for the economy. And even better news for your wallet. Here’s how you can take advantage of it:
Ask for a raise. Low unemployment means employees, not employers, have the upper hand. If companies want to keep their fav employees around, they may have to step up their game. More money is usually a good way to do that. Pro tip: Come prepared to tell your boss why you deserve more. And time it right.
Look for a new job. When unemployment is low, companies are working harder to attract new talent, too — making it a good time to find a new job if you want one. Yes, you should probably write a cover letter.
Relax. If you’re in a layoff-prone industry, namaste. Low unemployment rates in the US generally mean most Americans have job security.
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