What you need to know if you're job searching in today's market
Updated: Jul 21
Are you currently job searching– and wondering if you’ll find a job in today’s market? 🤷🏽♀️
I know it seems like every day we hear about a new company doing layoffs or “restructures” and it feels like job opportunities are starting to dwindle …especially nearing the end of the year holidays. 😥
So if you’re starting to feel anxious or overwhelmed by the entire process, I created this blog post to give you insights of what you need to know… to help you stay ahead.
First, I want to address some comments I’ve been hearing from job seekers.
Have you ever said any of the following?
No one is hiring right now, we’re so close to the holidays. I’ll start my job search next year.
I shouldn’t bother negotiating my salary, I just need to be happy with what I get.
Maybe I should start applying to jobs I’m overqualified for– since the jobs I want I’m not hearing back.
Does any of it sound familiar?
Honestly I don’t blame you.
All we hear is negative news about the marketplace but I’m here to bring you some actionable insights and provide you with a sense of confidence and hope.
Here are the top 5 insights I want to share with you:
1) Go after industries that thrive during a recession. I’ve compiled the top 7 industries according to Investopedia + an extra one. Honestly this alone can be an episode on it’s own but I wanted to quickly name the top industries you should be looking into:
Healthcare & Pharmaceuticals
Home Maintenance Stores (think Home Depot or Lowe’s)
Auto Repair and Maintenance (think Advance Auto Parts or Jiffy Lube)
Financial Advisors and Economists
Bargain and Discount Stores (like Walmart or Dollar Tree)
Freight and Logistics
Focus on industries that thrive during economic uncertainty and job search within those industries. If you don’t have experience within that industry, work with a career coach like myself who can help you pivot into new industries without taking a pay cut or taking a demotion.
2) There are more job openings than unemployed people. As of Aug 2022, unemployment rate is at 3.7% according to the Bureau of Labor and Statistics. That’s 6M people unemployed throughout the United states and there are 10.1M jobs openings at the moment.
3) Do not delay your job search or put it on the back burner, start your job search now.
Here are 4 reasons why.
You can assess whether or not your resume is performing at the level it should. If it’s not, you can focus on making improvements or hiring a resume writing service. Better to do it now than to find out a few months down the line your resume is not working and falling behind in your job search. There are resume writing companies that have backlog requests and can take 7-21 days to get a completed resume.
You can also assess the top 3 hardest skills to hire for in the role you’re applying for. If you don’t have them, you can spend time during the holiday break acquiring them.
There are companies that are scrambling to hire people for various reasons. It could be their employee left (hint. 4.2M people quit their jobs in Aug according to the Bureau of Labor and Statistics), or they have money left in the budget and they want to use it before they lose it at the beginning of the fiscal year.
Some people are going to pull back from job searching and it increases YOUR chances of getting an interview from companies who have an urgency in filling those positions.
4) Start researching companies you’ve been interested in and pay attention to their actions and their numbers. Listen to their latest earnings call, any news updates like layoffs, restructures, change of leadership, new partnerships and/or new products being released or announced?
The data will help you paint a picture of the company and you can start networking with people within the organization to gain company insights and maybe hear about unpublished opportunities. Yay!
5) Start building a network and reaching out to employees who currently work at your desired companies and employees who USED to work there. Ideally you want to reach out to people who look like you to get a better insight into the culture and opportunities.
For example, I would reach out to a Latina Woman because they can give me the female and Hispanic perspective when it comes to culture, promotions and opportunities.
Focus on solutions and keep your eyes on companies and industries that are thriving.
Having a volatile marketplace is nothing new and we will continue to experience it to the end of time.
It’s all about shifting our focus.
Covid-19 is a prime example.
There were companies that shut down, downsized and even ceased to exist yet companies like Instacart and Peloton were thriving during lockdown.
They couldn’t even keep up with the demand.
It took me almost 8 months to get my Peloton bike.
Anyways, I hope the strategies I shared with you gave you the push you needed to continue moving forward in your job search.
And if you’re tired of doing it alone or you’re not sure what to do to stand out in the marketplace, you can apply to work with me in my proprietary career coaching program 90-Day Job Offer.
You’re just 90 days away from your dream job—and a dream salary to go with it.
I have a few spots left before the end of the year.
Remember, there are winners and losers when it comes to job searching.
Either you get the job or you don't.
Make sure you’re on the winning side.