Does the Government’s Jobs Data Matter to Your Job Search?

The government’s monthly jobs data definitely makes headlines. But does it actually matter if you’re looking for a job?

The short answer is, maybe. Today’s job market is perplexing. And data from the Bureau of Labor Statistics can shed light on some important big-picture things, including whether the industries you’re targeting are adding or cutting workers, if average wages are growing, and how the unemployment rate is changing for people of your age range, gender, and ethnic background. (This is a useful chart, if you’re interested in that last part.)

The BLS turns this all around pretty quickly, too, reporting on each month’s data within a week of its end.

On the other hand, the data can be pretty baffling — especially when the numbers paint a rosier picture than what people are experiencing. And given the breadth of the BLS’s industry categories, you won’t get any particular insights into your profession, let alone specific companies.

Plus, those net numbers can obscure big ups and downs. Even if the data were to show a loss of jobs in the manufacturing industry or the state of Florida, for example, it would be hard to know how to interpret it. In theory, one company impacted by a hurricane or strike could singlehandedly drive the decline. (The BLS releases monthly data for each state and many metro areas a couple of weeks after the national data.)

So what? Finding a job is hard. And it’s natural to search everywhere for clues, especially when you’re doomscrolling through job listings. But don’t put too much stock in headlines. While understanding trends in the labor market can’t hurt your search strategy, there’s a lot more to securing an offer. Your biggest strengths are still your skills and background.

Related Reading

•   Looking for a New Job? Watch Out for These Red Flags (Fast Company)

•   The US Labor Market Keeps Beating Projections (Washington Center for Equitable Growth)

•   Occupational Outlook Handbook (Bureau of Labor Statistics)

photocredit: iStock/pcess609

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