More good news is on the way in the US job market, despite inflation, interest rates, and the war in Ukraine.
The April jobs report is set to be released by the Bureau of Labor Statistics (BLS) on Friday, May 6.
It is expected to reveal the demand for workers is at a near-record high.
Glassdoor predicts the demand for employees will mean more than 400,000 jobs will have been created for the 12th month in a row.
Whether it matches or beats the 431,000 created in March remains to be seen.
Glassdoor also says the unemployment rate is likely to go down to 3.5 percent, which would tie the lowest rate since 1969.
It also predicts The level of unemployment for the Hispanic/Latino community could also drop to its lowest ever level at four percent.
In terms of wages, growth is set to slow slightly but still be very strong.
Glassdoor says this is because employee demand will be high but won’t increase further as wage growth struggles to keep pace with inflation.
Workers are expecting better pay
Glassdoor’s research shows workers are increasingly expecting better as the market tightened in 2021 and early 2022
Jobseekers on the site clicked on jobs that paid 34 percent more than their current jobs, which is the highest expected salary increase since the second quarter of 2019.
Workers in lower-wage industries like entertainment, consumer services, retail, and food services had the highest salary demands.
Jobseekers in the food industry were searching for jobs that paid $18,513 more than their current jobs and were often looking for roles in business services or tech jobs.
People looking to stay in the industry are looking for jobs that pay $5,183 more a year or $2.59 an hour more than jobs they were searching for before the coronavirus pandemic.
The research also shows jobseekers are expecting much higher pay and are willing to switch jobs, industries, and career paths to get it.
A lot of service workers are moving into new industries with much better pay.
“The job market is transitioning from white-hot to red hot.
“While employer demand for workers is still near record highs, it is plateauing rather than setting new record highs month after month.
“And the Federal Reserve has begun raising interest rates, facing the difficult balancing act of tamping down inflation without impinging on jobs growth.
“For the time being, jobs growth remains quite strong, and workers are asking for increasingly large pay bumps to keep up with inflation.”