Just How Many Job Seekers Are Looking For Work?

Mar 13 2012 in Featured, Job Search Strategy, reCareered Blog by Phil Rosenberg

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This is the most competitive job market of our lifetime – but what does that look like in terms of numbers?

How many people are actually looking for work?

Would it surprise you to learn that you’re competing against about 132,141,000 others in the job market?

While the country faces an 8.3% unemployment rate as of February 2012, this is only a small portion of today’s job seekers. What about all the currently employed workers who are looking for work?

It turns out that their numbers dwarf the number of unemployed.

The number of currently employed workers searching for work was fairly low in 2008 – 2010, as workers saw high risk in changing jobs. Layoffs were happening at such large numbers and so unpredictably, that few workers would risk leaving a solid job for one where layoffs could be a risk. This risk became even higher because starting a new job meant that you would have the lowest seniority and therefore the greatest risk of layoff.

It became preferable to deal with a bad boss, bad work situation, poor career advancement, decreased ability to build new skills, or working nights and weekends (to fill in for others who were laid off) … than to increase risk of unemployment by taking a new job.

In 2010, CareerBuilder reported that just 35% of currently workers were looking for a new position.

Then, in 2011, layoffs slowed … so there was this pent-up demand to change jobs from those sick of not being paid what they were worth, poor (if any) pay raises, stalled career advancement, curtailed skills training, overtime, and management that told them they were lucky to have a job.

So in 2011, CareerBuilder projected that 84% of currently employed workers would be looking. These numbers are projected to be about the same for 2012.

This translates into 119,335,000 currently employed workers searching for a job, based on February BLS figures. Add in the 12,806,000 unemployed and you’ve got a total of 132,141,000 competitors in today’s job market.

Does this make you want to send more resumes? Or fewer?

Does this compel you to spend more time customizing each resume? Or spending less time per resume so you can send more.

Now that you can see the sheer size of your competition, how does that affect your job search?

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Phil shows you why your current job search strategies work against you and how to replace them with strategies that improve your odds. Phil provides you with research - cold, hard statistics provided by job boards and hiring managers themselves, to show you what works for you and against you in the worst job market in our lifetimes.

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Source: http://reCareered.com
Author: Phil Rosenberg

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