Update: You still have huge competition today, with 77% of currently employed workers searching for a job, plus 5.5% unemployment – This means that over 80% of the US workforce is searching for a job.
That’s an eye-opening number if you’re looking for a job.
But a CareerBuilder study last year projected that 84% of currently employed workers are searching for a new job … and the numbers haven’t changed much this year.
Let’s examine CareerBuilder’s projection.
In 2010, CareerBuilder reported that 35% of currently employed workers were searching for a job – their recent projection was 240% of 2010’s figures.
If 84% of currently employed workers are searching for a new job … that means that nearly everyone is searching. In addition, these figures didn’t include unemployment figures of about 9%.
What changed to increase the number of people searching for work?
Let’s start by looking at the job market in 2010. Can you think back and use one word to describe the 2010 employment environment? The word would be layoffs.
In 2010, companies were announcing layoffs. Each week, as many as 5 employers announced layoffs of 1,000 or more. I should know … because I tracked layoffs each week for my “Who’s Firing” weekly series (see http://www.recareered.com/blog/tag/whos-firing/).
All of these mass layoffs were scary to more than just those directly affected. Fear of layoffs also affected workers who wanted to search for a new job. Few would take the risk of a new job, starting with a new employer with no seniority, while layoffs were happening all over.
This caused few employed workers to search for a new job while mass layoffs topped the headlines, from 2008 through 2010.
So what happened in 2011?
Layoffs slowed in 2011 … while they weren’t eliminated completely, layoffs slowed enough to restore confidence of those who wanted to look for new jobs.
Now in 2012, there’s a huge pent-up demand.
Currently employed workers, who aren’t being paid what they are worth are searching. Employees who haven’t seen a decent raise in years are in the job market. Salaried workers who are being asked to work evenings and weekends to cover the workload of the laid off are sick of being mistreated. Those who have had career advances shut down are looking for new jobs with promotion potential. Workers whose employers have cut back on training are seeking opportunities to learn new skills.
These pent-up demands are the 84% who are competing for your next job.
How will you show employers that you’re the best candidate when 84% of currently employed workers are competing for your job?-------------------------------------------------------------------------------------------------------------------------------------
Want to do more than just complain about a bad economy?
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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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