Update: 80-85% Of The U.S. Workforce Competes For Your Next Job

Apr 1 2013 in Employment Economy, Featured, reCareered Blog by Phil Rosenberg

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That’s a huge number if you’re looking for a job.

But a CareerBuilder study projected that 77% of currently employed workers are searching for a new job … plus roughly 6% unemployment, equals 80-85% of the US workforce who compete with you for jobs. The numbers haven’t changed much since the study was published.

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 220% of their earlier figures.

If 77% of currently employed workers are searching for a new job … that means over 3/4 of currently employed workers are searching. In addition, these figures didn’t include unemployment figures of about 6%.

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 changed?

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 there’s a huge pent-up demand of workers trying to change jobs, creating huge competition among job seekers today.

So who are all of these people searching for jobs?

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 77% of currently employed workers who are competing for your next job, plus the roughly 6% unemployed.

The critical question for you: How will you show employers that you’re the best candidate when you compete against 80-85% of the US workforce?

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

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