How to capitalize on the labor shortage to advance your career

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How to capitalize on the labor shortage to advance your career
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With so many job openings across industries, employers are raising pay and benefits. This means there are ample opportunities to upgrade your position.

There are 10.4 million job openings in the U.S. and just 7.7 million unemployed people in the workforce. The imbalance is creating opportunities for career advancement across industries and giving workers cause to dust off their résumés.

In August, 4.3 million workers — the most ever recorded — quit their jobs, according to the latest data from the Bureau of Labor Statistics. The Great Reshuffle is here, and you’d be remiss to not at least examine your options. From February 2020 to August 2021, openings grew 50% or more in nine of 16 industries analyzed, including growth of 116% in manufacturing and 85% in accommodation and food services.

Using the numbers to your advantage You could easily shortchange yourself by looking at job opportunities only when you’re jobless or miserable in your current position. While being content in your current job is good, who’s to say you couldn’t be happy in another position?

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