A job seeker hosted by the Metropolitan Washington Airport Administration, where federal workers seek new career opportunities at Ronald Reagan Washington National Airport in Arlington, Virginia, is a job seeker organized by the Metropolitan Washington Airport Authority.
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Job hunting may seem like a paradox these days. According to economists, it can be difficult for job seekers to find a new gig.
In April, the unemployment rate was relatively low at 4.2%, and employment growth exceeded expectations. Layoff rates are historically low, meaning that those with jobs hold them.
But finding new jobs has become difficult.
Companies are hiring at the slowest pace since 2014. Nearly one in every 23.5% of four unemployed workers is unemployed for a long period of time. That means I’ve lost my job for over six months.
Actual Employment Lab economist Corey Stahl called “lower shootings, lower employment trends” in a memo on Friday.
In the labor market, there is a “growth division” between people at work and those employed, Stahle writes.
Given that there were record-breaking job openings several years ago and workers quit at record levels with ample opportunities, changing market conditions may make job seekers uncomfortable.
“This is for now. No companies are hiring,” said Mandy Woodruff Santos, a career coach and personal finance expert. “If that’s the case, it’s very rare.”
Economic headwinds like the trade war and rolling consumer confidence could make job hunting even more difficult in the coming months, the economist said.
“The market cannot escape the consequences of rapid sour business and consumer trust forever,” writes Stahle.
How job seekers can stand out in a tough market
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Even in this “low firing, low employment” market, there are ways for job seekers to stand out. Experts said.
“When the market changes, we may need to adjust how we search for jobs,” wrote career trends expert Jennifer Herity in email.
1. Become “creative” with networking
Job seekers are more likely to have to rely on personal relationships than in recent past, experts said.
Most jobs come through referrals or internal candidates. So, people need to be “creative” and “strategic” about the possibilities of networking, Woodruff-Santos said.
“Instead of waiting for someone to choose a resume from the mountains, you need to make sure you can’t deny it. Put yourself in front of them,” she said.
“Creating spaces for human connections and creating relationships gives you a little extra,” she added.
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Woodruff-Santos said you should not look for obvious networking events such as Job Fairs and expos that other job seekers frequently attend.
She recommends looking for conferences, seminars, special talks, and book signatures. For example, let’s say you work in information technology and someone writes a book on corporate security in the world of artificial intelligence. According to Woodruff-Santos, visit the author’s book signatures, lectures, seminars and Q&A. This is because audiences are likely to become people from companies interested in IT security.
Helly said he reconnects with his former colleagues and rides the employment manager’s radar before the role is open to the public.
2. Look for an opportunity inside
Workers who are unhappy with their current roles may have overlooked internal career opportunities, experts said.
“It may seem that recruitment is slowing down on the surface, but it usually means that opportunities have become even more underground,” Frances Weir, principal of organizational consulting firm Korn Ferry, said at a briefing in March.
However, employees must be strategic. For example, you might not be applying for several different jobs in the company or moving on from a role you started a few months ago.
3. Customize the application
“A typical resume doesn’t stand out from employers in a tough market,” Herity said. “Adjusting your resume and cover letters to your role, reflecting keywords from the job description and matching skills to the needs of your employer.”
Applicants should emphasize the outcome in their resumes and interviews, she said. This indicates that you are a proven performer in quantifying your results.
4. Upskills and reskills
“Employers value candidates who use slower periods for growth,” Herity said. “This is especially important for those facing long-term unemployment that could lead to skills gaps.”
She recommends find free or low-cost courses in relevant career areas to fill gaps, signal initiatives, motivation and self-teachers.
List recent certifications or course completions in the “Education” or “Skills” section of your resume, she said.
5. Become flexible
While waiting for your ideal job, success may mean open to contract work, hybrid roles, or adjacent industries, Herity said.
“A short-term role is a great opportunity to develop your network and skills, and when the right full-time role appears, you’ll jump,” she said.
