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Job Hunting? Here’s Where to Start

Job hunting can be stressful, but the current environment means there’s never been a better time for job seekers. Here’s where to start.

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While recent economic reports show that the U.S. has suffered through two quarters of negative GDP growth—which usually foretells a recession—there’s one good reason why many economists are not yet declaring a recession, and it’s good news if you’re job hunting.

That’s the healthy state of employment in the United States. The unemployment rate now stands at 3.5%, the lowest since right before the COVID pandemic hit us.

In June, unfilled job openings rose by 590,000 to a seasonally adjusted 10.1 million—the highest level since record keeping began in 2000. According to the Labor Department.

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That is good news for folks actively job hunting or even just on the lookout for a side hustle. And despite the Russia-Ukraine war, high inflation, and rising interest rates, as you can see in the chart below, the employment rate in almost every state in the U.S. has continued to decline since the beginning of the year.

StateJan.Feb.MarchAprilMayJune
Alabama3.13.02.92.82.72.6
Alaska5.65.45.04.94.74.6
Arizona3.73.63.33.23.23.3
Arkansas3.23.13.13.23.23.2
California5.85.44.94.64.34.2
Colorado4.14.03.73.63.53.4
Connecticut5.34.94.64.44.24.0
Delaware4.84.64.54.54.54.5
D.C.6.36.16.05.85.75.5
Florida3.53.33.23.03.02.8
Georgia3.23.23.13.13.02.9
Hawaii4.44.34.14.24.24.3
Idaho3.02.82.72.62.52.5
Illinois5.04.84.74.64.64.5
Indiana2.42.32.22.22.22.4
Iowa3.73.53.33.02.72.6
Kansas2.62.52.52.42.32.4
Kentucky4.44.24.03.93.83.7
Louisiana4.34.34.24.14.03.8
Maine4.14.03.63.33.23.0
Maryland5.45.04.64.24.04.0
Massachusetts4.84.74.24.13.93.7
Michigan4.94.74.44.34.34.3
Minnesota2.92.72.52.22.01.8
Mississippi4.64.54.24.14.03.8
Missouri3.83.73.63.43.12.8
Montana2.72.62.32.32.42.9
Nebraska2.22.12.01.91.91.9
Nevada5.25.15.05.04.94.7
New Hampshire2.92.72.52.32.12.0
New Jersey5.24.64.24.13.93.9
New Mexico5.95.65.35.35.14.9
New York5.34.94.64.54.44.4
North Carolina3.93.73.53.43.43.4
North Dakota3.12.92.92.82.62.5
Ohio4.34.24.14.03.93.9
Oklahoma2.72.62.72.72.82.9
Oregon4.34.03.83.73.63.6
Pennsylvania5.45.14.94.84.64.5
Rhode Island4.23.93.43.22.92.7
South Carolina3.53.53.43.33.33.2
South Dakota2.82.62.52.32.32.3
Tennessee3.53.43.23.23.33.3
Texas4.84.74.44.34.24.1
Utah2.22.12.01.92.02.0
Vermont3.02.92.72.52.32.2
Virginia3.33.23.03.03.02.8
Washington4.44.34.24.13.93.9
West Virginia4.13.93.73.63.53.6
Wisconsin3.02.92.82.82.92.9
Wyoming3.83.73.43.33.23.1
Puerto Rico7.16.86.56.46.23.1

Source: U.S. Dept. of Labor, Bureau of Labor Statistics (BLS)

It’s a great time to be job hunting! However, you should be aware that not all industries are in the hiring mode; some are even downsizing.

Many large companies have been hard hit by the stock market’s volatility, as well as rising rates and inflation, necessitating layoffs. Recent major layoffs, according to BusinessInsider.com, include:

  • Tesla, 229
  • Shopify, 1,000
  • 7-11, 880
  • Riven, up to 5%
  • Vimeo, 6%
  • Re/Max, 17%
  • JP Morgan, 1,000
  • Coinbase, 18%
  • Peloton, 2,800

Who’s Hiring Now?

However, if you are skilled in the administrative/customer support, finance and accounting, healthcare, human resources, legal, marketing and creative, professional and business services, retail, restaurant, or hospitality industries, you are in luck. According to ZipRecruiter.com, dozens of companies have hundreds of positions waiting to be filled. Here are the top ten right now:

  1. Uber, 50,980
  2. Capital One, 40,071
  3. Deloitte, 36,941
  4. Amazon, 36,895
  5. Walmart, 29,345
  6. Whole Foods Market, 29,152
  7. KPMG, 16,513
  8. Sam’s Club, 14,076
  9. DoorDash, 13,169
  10. TJX Companies, 11,977

Monster.com has compiled their “Monster 100” list of companies that are now looking for employees. The following are their top 10:

  1. Amazon
  2. CBRE
  3. Allied Universal
  4. Aya Healthcare
  5. Humana
  6. PwC
  7. Marriott International
  8. Northwell Health
  9. UnitedHealth Group
  10. JPMorgan Chase

It’s no surprise to me that there are lots of service industries on that list. Hey, I’m happy that most restaurants and shops have reopened since COVID decimated their industries, but I know that you’ll agree that service has considerably slowed down due to lack of help.

And since we are all looking to earn a higher wage, the Bureau of Labor and Statistics reports that the following—on average—earn the highest salaries:

The Highest-Paying Jobs in the U.S. 2022

JobAverage SalaryDegree RequiredOn the Job Training
Psychiatrists$208,000DoctoralInternship and Residency
Obstetricians and Gynecologist$208,000DoctoralInternship and Residency
Surgeons$208,000DoctoralInternship and Residency
General Internal Medicine Physicians$208,000DoctoralInternship and Residency
Anesthesiologist$208,000DoctoralInternship and Residency
Oral and Maxillofacial surgeon$208,000DoctoralInternship and Residency
Orthodontists$208,000DoctoralInternship and Residency
Prosthodontists$208,000DoctoralInternship and Residency
Family Medicine Physicians$208,000DoctoralInternship and Residency
Chief Executives$185,000Usually a Bachelor’sNo
Nurse Anesthetists$184,000MastersNo
Dentists$183,000DoctoralResidency/certifications
Pediatricians$177,000DoctoralInternship and Residency
Airline Pilots, Co-Pilots and Flight Engineers$161,000Bachelor’sYes
Computer and Informations System Managers$150,000Bachelor’s/GraduatesNo
Architectural and Engineering Managers$150,000Bachelor’s/GraduatesNo
Marketing Managers$140,000Bachelor’sNo
Petroleum Engineer$138,000Bachelor’sNo
Financial Manager$134,000Bachelor’sNo

So, if you are in a “change job” mode, now is the time to dust off your resume, put your best foot forward and get job hunting!

Have you considered a change of employment during the “Great Resignation”? If so, what was your experience?

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Nancy Zambell has spent 30 years educating and helping individual investors navigate the minefields of the financial industry. She has created and/or written numerous investment publications, including UnDiscovered Stocks, UnTapped Opportunities, and Nancy Zambell’s Buried Treasures under $10. Nancy has worked with MoneyShow.com for many years as an editor and interviewer for their on-site video studios.