If you live in the US, it’s a great time to look for a new job

Is there a job for you?
Is there a job for you?
Image: Reuters Photo/Gary Cameron
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Bored with your work? Think you’re worth more? According to the Bureau of Labor Statistics, as of July there were fewer unemployed people per job opening than at any time in the past decade. That’s bad news for employers struggling to capitalize on a rebounding economy, but could be great news for anyone out of work—or thinking about a career change.

A series of solid job reports over the summer have captured surging job creation and eroding unemployment. The last time the ratio of the two was this low was April 2001. (All comparisons are based on seasonally adjusted numbers.) Those new jobs also appear to be paying better: Earlier this month the Census Bureau reported a historic 5% growth in median household income from 2014 to 2015.

Under ordinary circumstances, these numbers would be outstanding news for the party in the White House. Unfortunately, as Quartz reported in July, 99% of new post-recession jobs have gone to people with a college education. That mismatch between the jobs on offer and the skills of job hunters, is likely to continue to fuel antipathy among Americans who feel left out of those economic gains. The Democrats will likely continue to have a hard time winning voters when the people they most need to reach are the least likely to have benefited from the improving job market.