Summary Sunday: Issue 561

Here’s the thing about job search advice. The answer always is – it depends. There is more competition in the job market overall… but maybe not in all industries. As a job seeker, it’s up to you to stay up-to-date on trends and take the most appropriate actions for you. In this week’s summary, you’ll […]

The post Summary Sunday: Issue 561 appeared first on Career Sherpa.

Here’s the thing about job search advice. The answer always is – it depends.

There is more competition in the job market overall… but maybe not in all industries. As a job seeker, it’s up to you to stay up-to-date on trends and take the most appropriate actions for you.

In this week’s summary, you’ll find a bit of research and information to help you understand some of the subtle nuances of job search:

• Job Search Intensity Globally
• How do workers feel about their jobs
• Gaps on resumes matter (still)
• Job search myths debunked
• Be a responsive job seeker
• How ATS really work
• Easily write a LinkedIn post with this
• LinkedIn pods and comments are ok?
• Noncompetes still valid

Follow the people and resources below for current job search information.

JOB MARKET

Job search heats up as workers fight off summer blues | LinkedIn’s Economic Graph

This analysis based on LinkedIn data looks at who is job searching more intensely (compared to January of this year).

And to define what job search intensity means: The Job Seeker Intensity Index measures the average number of applications made per applicant on LinkedIn. An increase in the average number of applications per applicant indicates more intense job seeking. 

• In the US, the top intensity job seekers are those seeking jobs in Financial Services.
• Globally, Gen Y (Millenials) are searching the most intensely.
• US job search intensity is lower than 10 other countries

SCE Labor Market Survey Shows Sharp Increase in Job Seekers, While Current Job Satisfaction Deteriorates | Federal Reserve Bank of New York

This research comes from the Survey of Consumer Expectations (SCE). It assesses consumers’ experiences and expectations regarding the labor market. Every four months, approximately 1,000 SCE panelists are asked details about their current (or most recent) job.

• There was a major increase (28.4% from 19.4% in July 2023) in those who reported searching for a job in the past four weeks (the highest level since March 2014) NOTE: “The increase was most pronounced among respondents older than age 45, those without a college degree, and those with an annual household income less than $60,000.”
• 19.4% of individuals reported receiving at least one job offer in the past four months, essentially unchanged from July 2023. 
• The rate of transitioning to a different employer increased to 7.1% from 5.3% in July 2023 (the highest reading since the start of the survey)
• Satisfaction with wage compensation, nonwage benefits, and promotion opportunities at respondents’ current jobs all deteriorated relative to a year ago.

JOB SEARCH

Research: Resume Gaps Still Matter | Harvard Business Review

“By carefully studying the data, something more nuanced and grounded comes into focus. It is not that resume gaps are a career death sentence, nor is it the case that they are irrelevant to career outcomes. Circumstances matter, and the extent to which such gaps can be explained may in some cases mitigate negative effects, but not completely.”

61% of respondents still considered resume gaps to be a negative sign (late 2023). Reliability was the top concern (29%), followed by motivation (27%), retention risk (25%), and skill atrophy (19%).

Key takeaways:

1. Resume gaps have a measurable negative impact on compensation
2. Resume gaps’ negative impact accrues for younger executives
3. The impact also depends on the hiring firm
4. The resume gap impact affects men and women differently

4 Job Search Myths that Can Wreck Your Job Search | Virginia Franco

There’s a lot of conflicting advice about job search. It’s always important to consider the source. Review these debunked myths I’m sure you’ve seen during your job search.

An underrated aspect of your job search: Being easy to get a hold of. | The Random Recruiter

When a recruiter has a choice to make, he picks the person he knows will respond quickly. Are you responsive? Definitely read the comments on this one for more insight.

The impression you leave with recruiters is important and lasting. I had one client who was nervous about interviews and rescheduled them – sometimes more than once. When my client tried to reschedule a second time, the company did not respond. Was this fair for the company? Things come up. But a recruiter has a job to fill and can move on to other candidates.

How an ATS Processes Your Resume | Kelli Hrivnak

ATS systems do not automatically reject applications. This post is written by a recruiter who has used several different systems. She highlights some of the confusion or misinterpretation of how ATSs work. (The comments are filled with other recruiters supporting her information.)

LINKEDIN

A powerful ChatGPT prompt that will help you create LinkedIn posts | Jan Tegze

If you have every struggled to write regular posts on LinkedIn, here’s something to try. As always, remember that you should read and edit any and all output generated before posting/sharing/using.

LinkedIn Pods and Comments Ignored by LinkedIn | Daniel Hall

First a little back story on this. Daniel has been shining a light on the use of pods on LinkedIn to increase a post’s views and reach for the past 2 years. In some cases, people are paying thousands of dollars to get extra promotion of their posts through pods. If you look at Daniel’s posts, you will see some of these stories.

The post is about how LinkedIn is saying that comments by pod members are not against community guidelines.

The reason I share this with you is to help you understand that not all influencers or posts by LinkedIn experts are genuine.

WORKPLACE

Judge Axes FTC Noncompete Ban: Employers’ Next Moves Explained | Bloomberg Law

Noncompete agreements are still valid. The FTC has estimated noncompetes cover about 30 million people, or one in five US workers.
” The US Chamber of Commerce cheered the court decision as a win for employers’ ability to protect their competitive advantages, including trade secrets. The FTC said the ruling is a loss for workers’ career mobility and that the commission is seriously considering an appeal.”

JOB SEARCH VISUAL

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The post Summary Sunday: Issue 561 appeared first on Career Sherpa.