Why is it so hard to find a job even with low unemployment
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- เผยแพร่เมื่อ 23 ก.ค. 2024
- It's hard to find a job and it's even harder to find a tech job. Why does it feel so hard to find a job given an optimistic view of our economy?
In today's job market, there seems to be a disconnect between the optimistic economic narratives we're hearing and the realities of job hunting. This video dives deep into the latest jobs report and the state of employment, dissecting the figures, the rising unemployment rate, and the significant impact of the labor participation rate. We explore the nuances behind the numbers, the truth about job creation, and what "building the economy from the inside out" really means. Amid corrections to job gains and the reality of the unemployment figures, we seek to uncover the truth behind the labor market's current state.
We also discuss the phenomenon of job quits and the labor market's cooling, providing a clearer picture of what's happening on the ground. With a special focus on the age group of 25 to 54, we analyze job market trends affecting mid-career professionals and those just out of college. Plus, we provide actionable advice on job hunting in the current climate, including how to leverage ChatGPT for customizing your resume for each application, maximizing your chances in a competitive job market.
What You'll Learn:
The disparity between economic reports and the job hunting experience.
Detailed analysis of the latest jobs report and market reactions.
Insights into job gains, unemployment rates, and the labor participation rate.
The significance of job quits and what it tells us about the market's health.
How to navigate the job market effectively, including tips for applying and customizing your resume.
Why Watch?
If you're in the job market, feeling confused or disheartened by the mixed messages around you, this video is a must-watch. We cut through the noise to bring you a grounded perspective on what's really happening in the job market and how you can adapt to secure your next role.
Stay Updated:
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Free Resources:
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Resume Update Prompt for ChatGPT:
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Engage with Us:
Your experiences and observations in the job market matter to us. Share your stories in the comments below. Let's create a community of informed and supportive job seekers, sharing insights and advice to help each other find better opportunities.
Best of luck in your job search, and remember, the right job for you is out there. Keep pushing, keep applying, and most importantly, keep believing in yourself.
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25+ years of experience. 2,409 applications since January. 2,372 generic rejection emails. 422 customized CVs with corresponding cover letters. 116 cold calls and problem/solution emails. Not sure what else to do with this. Not even Junior developer roles are biting on my applications.
I think I found you on LI and sent a connection request. You certainly have some disheartening stats! Are you reaching out to the hiring manager to cut around the recruiter/gatekeeper? My other thought is that it might be helpful to focus on referrals and getting referred. Really work your network. A friend of mine recently asked me to refer him into a role and sent me a referral template basically writing his own referral for me. Both ballsy and awesome! maybe that would work for you.
@@BetterThing-jobs Thanks for the connect. 116 network connections and discussions (that's where inmail on LInkedIn is good) - but none of them have born any fruit - they also take the most amount of time, researching, engaging in a good conversation, and waiting for them to come back. I feel like an imposter, does my background and experience really mean anything.
I'm so glad I found your channel - very informative and helpful, thank you so much!
You are so welcome!
I'm in Canada and work for companies predominantly owned by the States and internationally. I am at a Senior Brand & Marketing level and worked at the 9th largest bank in North America, majored in Math, Physics & Astrophysics in University, and come from a history of wildland firefighting, multiple labor jobs, serving and bartending. I would be HAPPY to accept any job at this point and I don't care if it's Junior or anything. I've been interviewed 30 times since November and the trend is to interview 4/5 times for 1 role, then reject with no reason, then repost that job. This is kinda nuts and all over North America right now. Business market that they're enjoying a growth phase, but in actuality, no one is working.
Thank you for filling us in on what you are seeing. I agree this feels completely out of the norm! Best of luck in your search. Don't lose heart. you can still do this!
@@BetterThing-jobs Best of luck with you too! I hope you find what you're looking for - godspeed!
You just described the fake job announcements. There a few reasons for this. Free marketing to the potential "applicants" and to make the HR bureaucrats look busy and relevant so they can justify their salaries.
Just was laid off after 30 years and job search is very overwhelming. If everyone is using chat gpt then aren’t we all submitting the same resume?
I feel your pain… I was laid off after 15 years of steady employment. 😞
So sorry about your layoff. Keep your chin up. You can make it through. Let me know how I can help. On your question, That’s the beauty of chat gpt. It is adjusting the language of your resume to align with the language of the job description while maintaining your actual experience. It will make a uniquely aligned resume for each user.
I'm currently applying for 5-10 internships daily across the United States in the field of Game Design. Do you have any specific tips for applying to internship? I have two big projects that I have on my portfolio and I go into more detail in my cover letter, I'm currently a junior at University getting my Bachelor of Arts in Simulation & Game Design.
It’s about making human contact and follow up. Your network is the thing that is most likely to get you an internship. Think about who your friends and family know and have them work their LinkedIn connections for you. You can also find an email address for support or questions on the main career site. Follow up there. Someone has to monitor that mailbox to catch compliance issues. Leverage it to request status.
There’s a weird flicker that keeps happening every few seconds… might need a flashing screen warning.
New camera on the way. I thought I had cut out most of them. Super annoying issue I’m having right now with hardware.
I’m like the person you mentioned who says they’re focusing on networking now since cold applying never seems to work. I was using chat gpt for a while but i wasn’t getting any results. Job market seems even worse this year than last year.
I've probably applied to over 150+ jobs. I 've been ghosted, dropped during the interviews, and screened out, probably due to my age. I've attended seminars on how to tailor my resume, paid someone to review and make adjustments, used AI to create cover letters, and customized them to the jobs I am applying for. I have also asked for referrals on LinkedIn. No responses from anyone. The new thing is for applications to ask for your LinkedIn profile. You will be screened out if you look older than I do. We are all being forced out, those of us over 50, so please don't say that many of us are "actively retiring" because this is not 100 percent the case. I want to work, I have years of experience and a great work ethic, I get along with others and love being a team player. None of that matters.
Thanks for sharing your experience!
Every industry that requires financing is undergoing a massive adjustment. Auto, private construction, manufacturing of capital goods, etc. Watch out for industries that rely on discretionary income such as tourism.
Hopefully the rate cuts will help throughout this year. Fed just said they still expect to make 3 cuts.
Job positions that are open don't mean jack. Actual hiring is very very low, highly selective and a lot of under employment is going on. Fresh entrants are struggling a lot.
I think they do. It takes a lot to get a job open these days. people don't do it by accident. They may lose funding before they fill it, but the posting is sincere.
I'm just trying to find a job while I build my business on side but I keep getting rejected for everything even roles that I'm overqualified for.
Sorry to hear that. Are you given a reason for rejection?
@@BetterThing-jobs no, just standard we won't be progressing your application responses.
Sorry to hear that. Try following up after the first week with an email to the "questions" email on the career site. That gets your message into a queue in large organizations and someone will ultimately respond personally.
@@BetterThing-jobs thanks for the advice.
@@davidj8384 Yeah, That's mean they have found a candidate that qualified for the job but willing to take less money than you. I received the same response everytime and not until i asked them throughly that i receive the detail response.
It’s crazy I just move to another state & only got 2 final round interviews and got passed up for both of them. I got an interview with a better opportunity and still waiting to hear back. But what I’m seeing is employers who shouldn’t be picky are being picky. Contract employers are being picky, low wage employers are being picky. I’m running into somewhat great opportunities but not enough of them. Hopefully I can land this job that I had a final round interview with.
When you changed states, did you leave your network behind? That is usually the problem I see in this situation.
@@BetterThing-jobs I didn’t really have a network at home. I just really needed a change of scenery after I was let go by a toxic work environment.
I think a few things are happening here that people don’t want to talk about.
The first is that the age for social security benefits is now 67 and set to go higher.
The second is that the baby boom generation is settling into social security now but realizing they need to go beyond that to have a safe and secure retirement.
The third thing is that a lot of companies are replacing folks with robots and AI, or attempting to do so. This is causing a cream to the top scenario where “what have you done for me lately” is all that matters.
Without going into this in great detail and without anything more than my own suspicions to back this up, I won’t belabor it further… but it’s food for thought as I may be entirely wrong, partially wrong, or partially right… but I don’t think we will ever know for certain.
I think all of these things are certainly contributing factors.
Well, the usa is doing better than other developed country, but it's still not great right now... May also depend on local job market and in your job title.
This is true!
or quite simply the low unemployment figures are bogus
yep
I have no idea how they calculate their statistics but the easiest way to know if the job market is healthy is to try to get any job starting from the bottom.
People joke about "If you don't pay attention in school you'll have to work at McDonald's or Walmart"
I haven't been to the US in a while but in the UK you can't get a job at McDonald's! You can't get a job working in a supermarket franchise.
You can apply but you'll be one of 5000 people also applying to work the checkout.
If you're looking for skilled work such as tech based work it's easier, work like software developer or in fintech.
But the fact the jobs that people resort to when they have few options are in so short supply makes me think the economy can't be healthy.
I agree with you. Do UK stats paint a positive picture like our government statistics?
@@BetterThing-jobs Very much so, if they are to believed then unemployment is around the lowest it's been in the past 50 years. Yet I know people with degrees from good universities struggling to find a good-paying job.
They must be very creative in how they collect these statistics. Low unemployment would mean a job market favoring the supply over demand, but when you talk to people trying to find work it seems employers aren't hiring that readily and if they do they have so many options they're spoiled for choice.
I know they play with the numbers to mask inflation in pretty much every developed nation, I wouldn't be surprised if they do the same with unemployment and it's actually closer to 10% than 3 or 4 percent.
For us, it comes down to a lack of churn in the job market. We have 20% fewer open jobs in the US along with a decrease in the number of people quitting jobs. That means if you don't have a job, it feels way harder to find a job than it did in the past. It is largely down to people not leaving their current role.
You need to look at how they calculate employment and unemployment. The statistics are not accurate.
New video with this definition is on the way.
job:working adult ratio totally skewed
agreed. Needs to include disenfranchised workers.
Second….
Yes, you are.
It’s obvious u have no idea how economic data reporting works
How exactly? I have an MBA and have been in the recruiting profession for 27 years. I’ll put my credentials up against anyone else on the planet in this space. Bring it.
I’m also a conference keynote speaker who regularly gives a state of recruiting talk at the largest recruiting conference in North America. Again, bring it.
One more because this is a fun game. I don’t get to flex on being a metrics nerd often. Here we go. I’ve run analytics at the largest staffing firm in the world, Randstad. I currently have analytics at a top tier recruiting outsourcing company. I have consulted with 28 of Fortune’s top 50 companies on this topic in my career through my work at Accenture and others. I just left two years at THE WORLD’s LARGEST BANK, JP Morgan Chase working on just this problem. The second largest bank’s head of recruiting analytics is a mentee and good friend of mine. Guess who he comes calls to bounce ideas about this very thing off? Yep. That’s me. I know of 2 other people with a background that would rival mine, and you don’t write like Andrew or Mike.
@@BetterThing-jobs dude, u gotta get out of the house more often. God bless u
I know, right?
Gays in the wheelchair
What?