Real estate mogul Barbara Corcoran is optimistic about job growth in the U.S. following the release of the March jobs report which shattered expectations. The Business Unusual podcast host said the number of currently available jobs is a sign that businesses will be competing for potential employees.
"I think it's going to be the best job market we've ever seen for the last 10 years," Corcoran told Cheddar.
"Right now, there are so many postings on the job boards that if you don't scan the job boards daily, you're out of your mind," she added.
On top of the recent boost to the jobs market, President Joe Biden's $2.3 trillion infrastructure plan could inject another surge into the economy, if passed.
"What I like about the jobs is there's a real need so there's being a need fulfilled that has been ignored for a long time," Corcoran said, although she expressed concern that jobs created in industries like clean energy may require additional training or education, something that many people struggling to find work don't have. "I'd like to see more people in dire need not get the assistance through checks but get the assistance through open doors into good jobs that they could prosper in."
Corcoran, who went into business for herself at 23 years old and completed the sale of her real estate empire weeks after the 9/11 terror attacks, said people who are not looking to work for others after living through a pandemic should start their businesses now. Just getting started on your own business is typically the hardest part, she noted.
"You don't have to get it right. You have to get it going," she said, noting that many aspiring entrepreneurs get bogged down in the planning process.
Now, as a star of ABC's Shark Tank, a reality show where entrepreneurs try to secure investments from top business leaders, Corcoran said she is in communication with the owners she has invested in almost daily, and the most successful have been able to adapt during the pandemic. She said if people can learn to adapt, they can turn their business around.
"The most important thing is change in any business cycle, but as a result of that pandemic the rate of change has been sped up on every front, and the ability to change faster than that change is what kept my best entrepreneurs in business," Corcoran added.
This story was updated on April 8, 2021 at 2:35 p.m. ET to correct the spelling of Barbara Corcoran's last name.
