The job market remains challenging for many job seekers, who are facing lengthy interview processes and increased competition for roles in certain industries. However, the situation could soon improve.
According to Julia Pollak, chief economist at ZipRecruiter, "It's getting progressively harder to land a job." The unemployment rate ticked up to 4.3% in July, and the length of joblessness increased while hiring has slowed, fueling fears of a broader economic slowdown.
Companies are more cautious about hiring due to high interest rates and rising wages, but many still want to hire, Pollak adds. Dawn Fay, operational president at recruitment firm Robert Half, notes that many employers feared an imminent recession and pulled back on hiring in the first half of 2024. However, this trend is starting to turn around, with some clients building out their human resources teams and other fields like finance, sales, and professional services hiring again.
In a recent Robert Half survey, more than half (52%) of companies said they're planning to hire for new permanent positions in the second half of the year, and another 43% plan to fill vacancies. "Companies have been running pretty lean for most of the year and are finally reaching the point where their staff is feeling overworked or, in some cases, struggling with burnout," says Fay. "They're looking to recruit people in strategic positions to support those critical business needs."
The industries with the most consistent demand for talent are healthcare, government, and business and professional services, which include jobs such as consultants, accountants, and project managers.
To stand out in this competitive job market, Fay advises job seekers to "cast a wide net and have an open mind," and not to underestimate the power of networking. Pollak suggests being "first and fast" by setting up job alerts, applying to opportunities as soon as they're posted, and responding promptly to recruiters and follow-up emails after interviews.
Sylvester Stallone, Blake Lively, and Amanda Seyfried have more in common than their professions. All three Hollywood A-listers moved out of California as participants in a growing trend of people leaving the Golden State.
The 10th best state to live in is Wyoming.
The Cowboy State placed high thanks in part to its safety ranking — it was ranked the second-safest state in the country — and its affordability.
According to US Census Bureau data from its 2022 American Community Survey 1-year estimates, Wyoming's homeownership rate is 72.7%, compared to the national rate of 65.2%.
WalletHub also reported that the state ranked fourth for the percentage of people aged 25 and over with a high school diploma or higher. However, it ranked last for income growth.
What the Empire State lacks in affordability, it makes up for in quality of life.
New York was the No. 1 ranked state for quality of life, which was measured by factors like average hours worked a week, average commute time, quality of roads, traffic, weather, and access to activities like movie theaters, gyms, beaches, bars, and museums.
The state also placed fifth overall for safety.
Wisconsin was ranked the 8th best state to live in thanks in part to its top-10 ranking for education and health, which factored in metrics like high school graduation rate, quality of public schools, life expectancy, and share of the population with insurance.
According to the US Census Bureau, 5.2% of Wisconsinites reported being without healthcare coverage in the 2022 American Community Survey. Nationally, 8% of Americans reported being without coverage.
Wisconsin also had top 15 rankings for quality of life and safety.
As the seventh-best state to live in, Pennsylvania had top 10 rankings in two categories: quality of life and safety.
The Pennsylvania Department of Community & Economic Development reported that the state is home to "over 6,700 miles of hiking trails, 124 free state parks, and 22 ski resorts," providing residents with plenty of opportunities to enjoy nature.
However, the state ranked in the bottom 10 for its economy, which was determined by WalletHub based on metrics like unemployment rate, population growth, job opportunities, bankruptcy rate, and food insecurity.
The Gem State earned three top 10 rankings for its affordability, economy, and safety.
Idaho was ranked the No. 1 state for income growth by WalletHub and has the third lowest crime rate.
The US Census Bureau reported that the state has a median household income of $72,785, just shy of the national median.
Idaho also boasted a homeownership rate of 72.3% — about 7% above the national average — and had an employment rate of 60.2% making it on par with national levels.
Despite receiving lower rankings for affordability and quality of life, New Hampshire placed in the top three states for its economy, education health, and safety.
Per WalletHub's report, the Granite State has the lowest crime rate and the lowest percentage of its population living in poverty. Its population also has the fifth highest percentage of those 25 and older with a high school diploma or higher.
The US Census Bureau also reported that New Hampshire's median household income is more than $15,000 above the national average, at $89,992.
Of WalletHub's top 10 best states to live in, Utah ranks the highest in affordability as the third-most affordable state in the US.
The US Census Bureau reported that the state fares better than national levels in homeownership, median household income, and employment rate.
WalletHub also ranked Utah 13th for its economy.
The Garden State was ranked the third-best state to live in, boasting the No. 1 safety rank — WalletHub reports the state has "the highest number of law enforcement employees per capita."
New Jersey is also known for having plenty of opportunities for residents to stay active, with WalletHub reporting that the state is home to the fifth-most fitness centers per capita and the sixth-most miles of trails in the US.
The state also has the highest median household income in the US at $96,346.
Despite many "Florida man" stories floating around the internet, the state actually ranks 10th for safety, in part because of its widespread law enforcement presence, WalletHub reported.
The Sunshine State also offers plenty of fun ways to spend free time, including restaurants, beaches, fitness centers, and theaters — not to mention world-famous theme parks — boosting residents' quality of life.
In October 2023, Business Insider reported that Florida saw the "greatest number of new residents between 2021 and 2022," citing Census Bureau data.
One group particularly fond of Florida is billionaires because of its tax code. In February, BI reported that Jeff Bezos will avoid "paying hundreds of millions in taxes" with his new Miami address.
The No. 1 state to live in is Massachusetts.
The Bay State ranks first in the country for education and healthcare, with the highest reading and math test scores and one of the lowest dropout rates, according to a July 2024 WalletHub report on school systems. The Census Bureau also reported that 46.6% of residents 25 and older have attained a bachelor's degree or higher, well above the national rate of 35.7%.
Healthcare is also strong in Massachusetts. WalletHub reported that 97.3% of residents have health insurance and the state has "the lowest share of adults in fair or poor health."
Despite its relative lack of affordability, the state ranks highly in all other categories, including its economy, quality of life, and safety.