This post was originally published on this site
It may sound cynical to say that bad news for job seekers is good news for employers, but in many cases, that’s absolutely the truth. The labor market, like any market, is based on supply and demand. When demand is high and supply is low, prices (wages in the case of the labor market) tend to rise, and the converse tends to be true when demand is low and supply is high.
An Employer’s Market
When the labor supply is low and jobs are plentiful, applicants have significant leverage to shop around for the best opportunities with the greatest perks