The AP reports that, according to data released Friday, October 9th, competition for jobs is tougher now than when the recession began, with the Labor Department reporting an average of 6.3 unemployed workers competing for each job opening. (This compared to 1.7 workers when the recession began in December 2007.)
“Fewer people are facing job loss,” said Heidi Shierholz, an economist at Economic Policy Institute in Washington, “but once you have lost your job, you are in serious trouble.”
“The recovery in output continues to be unaccompanied by a recovery in jobs,” said Nigel Gault, chief U.S. economist for IHS Global Insight. He expects the unemployment rate, currently at 9.8 percent, will be at 8.6 percent in 2012.
Economists offer several reasons why companies aren’t hiring. Many employers laid off huge numbers of workers earlier this year but have since found that productivity jumped, enabling them to maintain output.
It appears that American workers, possibly afraid to lose jobs if they still have them, have managed to outperform, inadvertantly making some employers believe that ramping up hiring is not necessary.
What is a job seeker to do? Yesterday’s Career Collective posts addresssed the topic of avoiding being a “cookie cutter” job seeker. My post included several suggestions, and I encourage you to follow THIS LINK and link to other member posts on the topic.
Is this news unwelcome? Of course, but anecdotal evidence (talking to people involved in outplacement and to my own clients) suggests that those who mobilize good information along with cutting-edge job search techniques, such as using Twitter to expand a network and find a job, ARE landing in opportunities. So, take a good, solid look at your resume. Think about how you are approaching the market. Are you doing the same things you did the last time you looked for a job (10 years ago)? If so, it is time for a change.
Another idea? Visit my friend Laurie Ruettimann’s blog with her outside the box ideas on how to manage if you are freaking out.
If looking for a job is tiring you out, and you are not sure that you are doing everything you can to fuel your plans, learn more about how I can help you HERE.
photo by lloydcrew