These numbers imply that by the end of 2014, the unemployment rate will more likely drop from 7% to 6.8%. While this may not be the lowest level of unemployment over the last five years, the unemployed will encounter lesser competition in the job market since most people have recovered and found new jobs. From a job seeker-to-job vacancy ratio of 7:1 this year, it is expected to drop to 3:1 by 2014.
Skilled and educated professionals have a better career outlook in 2014. From a high of 5.1% three years ago, the unemployment rate will be down to 3.7% in 2014. 2014 would be a good year for experts in the fields of accounting, business analytics, mobile app development and regulatory compliance.