Everything You Need to Know About Inflation and Your Job Hunt
Inflation is on everyone’s mind. It is a topic at family dinner tables and an issue being navigated by companies as well. If you are currently looking for work, you may be wondering if the current inflationary environment is impacting your job hunt.
High inflation has an impact on what jobs are available and what level of compensation is offered or accepted. The good news for job seekers is hiring numbers haven’t been decreasing lately. There are opportunities available if you are a job seeker, connect with an employment expert at Staffing Network to learn more.
Temporary Work, Part-Time Jobs, and Salary Adjustments
Companies need workers in order to provide their products and services to customers. That said, when businesses are looking for talent they are likely doing so with other expenses in mind, which could include supplies that have increased in price. Because of this, some firms are exploring temporary and part-time job hires rather than committing to full-time positions.
In times of inflation, temporary work can be an advantage to workers as well. When household budgets are strained, increasing or pursuing gig work can help people earn extra money. Contract assignments could be in addition to their existing work commitments or an option for individuals who need an income while looking for a full-time position.
Because prices are up, workers have been seeking salary adjustments to cope with shifts in cost of living expenses. Employers are addressing these requests on an individual basis. If you are looking for work, you may have bargaining power for a higher rate, but you also have to recognize that employers have their own bottom line, too.
Inflation and Shifting Labor Markets
Changing labor markets and economic shifts, such as inflation, affect job seekers and hiring managers. Determining how to connect with the best job for you and your career future depends on your situation and the current market.
Inflation could even prompt people to return to work. For instance, individuals who retired early or parents who have chosen to stay home while their kids were small but now are parents to teenagers or college students could choose to start working again when faced with high inflation.
When you share your goals with an employment expert, they can guide you through the job seeking process. For example, it may be in your best interests to earn an income through temporary work while you interview for permanent positions. Agreeing to a full-time job is making a long-term commitment, you do not have to agree to terms you are not comfortable with. There are opportunities to help you push out of your comfort zone and land the job you love.
Are you worried about inflation and your job hunt? You may have more options than you realize, connect with an employment professional to learn more. Staffing Network is a full-service staffing and recruiting firm that specializes in light/skilled industrial, engineering, and operations professionals. Connect with Staffing Network today.