Economists believe that the overall labor market in the United States is currently strong, with relatively low unemployment rates and historically low layoff rates. However, this has made finding a job increasingly challenging, as job seekers need to know how to stand out in a tough job market.
According to a report by CNBC, American companies are hiring at the slowest pace since 2014. 23.5% of unemployed workers have been out of work for more than six months, which is higher than the 19.6% figure from a year ago.
Cory Stahle, an economist at the Indeed Hiring Lab, stated in a report last Friday that this trend reflects a “low firing, low hiring” pattern.
Economists argue that due to economic headwinds such as trade wars and declining consumer confidence, finding a job will become even more difficult in the coming months.
So, how can job seekers stand out in a tough job market?
Here are some tips for job seekers:
Experts suggest that compared to the past, job seekers may rely more on personal connections.
Mandi Woodruff-Santos, a career coach and personal finance expert, advises that most positions are filled through referrals or internal candidates. Therefore, creating space for interpersonal relationships and building networks can bring additional benefits.
She recommends not only attending job fairs and expos where many job seekers participate but also seeking out conferences, seminars, special lectures, and book signings, as interested professionals from companies may be among the attendees.
Experts say employees who are unhappy with their current positions may overlook internal job opportunities within their companies.
By understanding the situation, perhaps applying for several different positions internally could be beneficial.
Jennifer Herrity, a career trends expert at Indeed, notes that in a competitive market, a generic resume might not stand out to employers. Tailor your resume and cover letter to each position, aligning with the keywords in the job description and showcasing skills that match the employer’s needs.
Herrity emphasizes that employers value job seekers who have taken advantage of the downtime to enhance their skills, especially crucial for those facing long-term unemployment and discovering skill gaps.
She recommends seeking free or low-cost courses in any relevant professional field to help bridge skill gaps and demonstrate initiative, positivity, and the ability to self-learn.
Herrity suggests that during the wait for an ideal job, success may mean being willing to accept contract work, hybrid roles, or positions in similar industries.
She states that short-term employment can be a great opportunity to expand your network and skills, so when the right full-time job comes along, you’ll be well-positioned to grab it.