With unemployment at a 50-year low, it's
a job seeker's market.
But that doesn’t mean it’s a perfect market. In fact, there are issues that could be exacerbated by a strong economy, such as industries already in decline, satisfaction with the hiring process and the mobile job search approach.
Whether you’re three months into your job search or just starting, these stats will help you land your next big interview.
Let’s back up and start with the facts about the unemployment numbers.
Many job seekers say it's easier than ever
to find good work
A record 47% of the workforce say now is a good time to find a quality job, and a majority of employees (51%) are actively searching.
The people faring best are
With college
degreesWho live in
big citiesWho work in "high-skill"
industries, such as:Technology | Telecommunications | Marketing
Source: Gallup
A majority (69%) of employees are optimistic or very optimistic about their ability to find a new job.
Source: Addison Group
and they feel so emboldened, they're
even "ghosting" companies.
More workers (19%, up from 11% in 2018) say they turned down a job after signing an official offer but before their first day …
Source: Jobvite
… and a whopping 83% of employers say they’ve been ghosted at some point in the hiring process.
Source: Indeed
Meanwhile, many job seekers feel they can preemptively reject an employer based on unfavorable Glassdoor reviews:
Source: Jobvite
Don't forget, many people are still hurting
A lot of job seekers (45%) say it was harder to find a job in 2019 than it was in 2018.
Source: Gallup
Rural workers (27%) are more likely to say they’re having a hard time than city dwellers (17%). Those without a college degree (21%) say they’re having a harder time than those who have a degree (16%).
Source: Gallup
and some are having an extra hard time.
The groups struggling the most work in the following fields:
Mining
72%
Transportation
56%
Real Estate
56%
Source: Gallup
Successful and struggling job seekers alike
find the hiring process frustrating.
Only 12% of employees strongly agree that their organization does a great job of onboarding new employees.
Source: Gallup
Here are job seekers’ top five biggest frustrations in the job search:
Source: CareerBuilder and SilkRoad
Perhaps it's too lengthy.
An average of 38 days passes between the job posting and first interview.
Source: National Association of Colleges and Employers
An average of 25 days passes between a final interview and job offer.
Source: National Association of Colleges and Employers
Additionally, more people are conducting job searches on mobile devices, which has its own set of problems.
According to Glassdoor, 58% of its users look for jobs on their phones, especially those in mid-career (35 to 44 years old).
Source: Glassdoor Economic Research
Job seekers successfully complete 53% fewer applications and it takes them 80% longer to do so on mobile devices.
Source: Glassdoor Economic Research
Just a little extra work on the potential
employer's part would make people happier.
Job seekers would like to see their applications acknowledged in the following ways:
Source: CareerBuilder and SilkRoad
Let's back up. Where are job seekers
looking for opportunities now?
Source: Gallup
There’s a difference between those already with jobs and those looking: 38% of employed workers say they could use their professional networks to create their next opportunity, while only 18% of the unemployed say the same.
Source: Jobvite
Online job boards are popular. Which are best?
Consumer Advocate evaluated almost 30 job sites and gave out the following awards:
Best overall: Indeed
Best for additional services: Monster
Best for company reviews and salary information: Glassdoor
Best for networking: LinkedIn
Best for company profiles: The Muse
Other job sites they rated highly were:
ZipRecruiter | CareerBuilder | VelvetJobs | The Ladders
Source: Consumers Advocate
Employers are enticing job seekers
with the following benefits
Source: Gallup
Perks aside, people usually take
the best overall deal.
Of those who turned down a job after signing an offer, they did so because they:
Source: Jobvite
or they pick the best opportunity
for career growth.
And 61% of workers say career growth opportunities are more important than compensation (57%) and health care/retirement benefits (58%).
Source: Jobvite
And they're still quite serious about benefits.
Here’s what today’s job seekers have established as “essential” benefits when considering opportunities:
Source: Jobvite
Here’s what today’s workers would like to see most as “extra” benefits:
Source: Jobvite
Landing a job
Realistically, you should be prepared to change up your job search if you want to be successful. Please consider:
Identifying your transferable skills if you work in a struggling industry (e.g., real estate, transportation), then highlighting them in your resume.
Real estate agents, for example, have skills that are valued in a wide range of sales positions in booming industries, such as commercial construction.
Moving to a city or suburb if you live in a rural area in economic decline.
In the coming decades, the United States’ biggest cities are expected to get richer and more powerful while already depressed rural regions will lose out to automation.
Hesitating before filling out applications on mobile.
Sometimes this is unavoidable, but when you put so much care into crafting a resume and cover letter, you wouldn’t want issues with the submissions portal or formatting to hold you back.
If you want to continue expanding your knowledge, read more from our 2020 employment stats series, including stories on:
- The key to writing an job-winning resume. The one-size-fits-all resume is a myth, and this stats guide ensures yours won’t get dismissed at first sight.
- Why surveys finding decades’ high job satisfaction fail to tell the whole story. The truth is more complicated, with low worker engagement and nearly half of employees unhappy with their pay.
- How to appeal to hiring managers and recruiters at every step of your job search. You’ll learn how to answer interview questions, where to look for jobs and which phrases get on a recruiter’s nerves.
