The Job Market Today
Understanding today’s job market isn’t just about looking at government numbers of new jobs created or unemployment rolls. In fact, official unemployment numbers are lower than they’ve been in years. But, it sure doesnt feel that way for many roles in tech, media, finance, education, e-commerce, and IT. Make no mistake; it’s a tough job market!
Ripping off the band-aid 💥
So far, 2023 has been brutal:
- 1,169 layoff announcements at tech companies
- 310,484 people impacted
- That averages 1,725 people per day losing their jobs
Source: https://www.trueup.io/layoffs
The most impacted roles:
- Recruiting/talent
- Middle management roles in all functions
- HR
- Product/project management
- Engineering
- Design
- Finance
- Sales/business development
The economics of labor markets are well understood; we’re solidly in an employers’ market right now.
If your target role is in one of the above categories, you’ll likely have much less leverage than you’re used to. This means you should expect a tougher job search. It will take longer and likely yield fewer and weaker offers.
Mindset 🧘🏻♀️
>> KEY POINT: Adjust your expectations as quickly as you can. The faster you can bring your mindset to the right side of the acceptance graph, the sooner you’ll start to accelerate your progress.
Accept that you’ll need to adapt to this tough job market:
- Send out more and better-targeted applications
- Get better organized
- Get more referrals
- Pass more numerous and more challenging interviews
Ready for your FREE resume report?
Ok, so what’s next? Moving forward…
Despite these genuine challenges, there are some great opportunities out there, and we’re here to help you land them for yourself.
💡 Check out our, free-to-try, resume scoring and alignment tool. If you’re already using it, you should definitely continue to use it to customize your resume for each job application to give yourself the absolute best chance to get a callback.
