Job Seeker Guide to the 2024 Job Market

I see several newbie job seekers post about their job search frustrations. Even veteran job seekers are losing sight of how bad the market is. A reminder that it is not you, it is the system.

Here are some observations of the current job market. I have learned about job hunting through my experience with being in the job market 17 times in 26 years and most recently, I was laid off three times over the last two years. I can attest that this is the worst job market I have ever experienced.

1. Fewer jobs: The media reports that new jobs created over the last year have been dramatically miscalculated. The number of 818,000 fewer jobs created between March 2023 and March 2024 is being thrown around.

2. Saturated applications: The over-hiring between 2020 - 2021 led to mass layoffs starting in 2022 and continuing today. There is a high demand for jobs with 100's millions of unemployed worldwide. Many of them are competing for remote jobs outside their countries. Global unemployment increased to 5.2% in 2024 with over 210 million reported unemployed. The increase in unemployment is attributed to the mass layoffs still going on worldwide. The number of applications averages between 250 and 2,000 per role.

3. Remote jobs decreasing: The number of remote jobs is dramatically decreasing due to RTO (Return to Office) and stricter requirements related to a reduction in States where remote workers can work to save on taxes and liability. This trend will most likely continue.

4. Lack of relocation packages: If you do find a good job, it might be on-site and require relocation. Employers are unwilling to invest in newly hired to relocate.

5. Fake Job Posts: It was reported in June 2024 that 40% of employers surveyed in one study had posted a fake job in the last year.

6. Reposted Job Posts: One cause of this is employers not turning off payment for job posts so the position gets re-posted. Another reason is for pipeline acquisition to collect potential candidates data for future vacancies. I have heard that some employers will re-post the job post to get free work out of candidates. Employers will have candidates who will never get an offer to work on assessments that the employer steals and uses as their own.

7. Hiring Internal Candidates: This is not a new phenomen. The archaic requirement that HR departments created years ago to open applications to the public even when targeting internal candidates is still alive and kicking today. I have confronted this four times during this job search and countless others during previous job searches. This practice needs to end. If you are going to hire internal candidates, then keep the job posts internal.

8. Employers stuck in Analysis Paralysis and Risk Aversion: With the large volume of applicants, employers have their pick of the Unicorn litter. They are a bit trigger-shy due to the layoffs they may have recently been involved with. So, they want to be triple if not quadruple sure they make the correct hiring decisions. This causes delays that can drive candidates to stress out thinking about whether they got the offer or not.

9. Ghosting applicants: This is not new and has been around since I started working in 1998 and probably will never end. Recruiters ghost applicants throughout the application process. Even those who pass the full interview gauntlet.

10. Discrimination: Those in protected classes are continually passed over for other candidates that more closely fit the role profile and company culture. The two biggest discriminations are age and gender. I have experienced both.

If you are over the age of 40, you will most likely experience ageism. If you apply for a company that lacks gender diversity, you may not be aligned with their company culture. Also, some companies are faith-based and those employers expect their employees to follow the same religion.

Of course, employers are smart and well-trained to avoid lawsuits, so they will provide general statements that simply mention that you are not being moved forward and that other candidates are chosen. Basically, your horn is not as shiny and your farts are not as colorful as the candidate who was chosen. During my current job search, I have not received rejection messages that include "under-qualified" or "over-qualified" statements. In previous job searches before 2022, I often saw those descriptors.

11. Lack of Feedback and Automated Rejections: Many job seekers complain that employers do not provide adequate feedback during the interview process and when they are ultimately rejected if they do receive a notification, it tends to be an automated response. There are legal concerns that employers are trying to avoid being held liable for discrimination. In the age of increased litigation, hiring managers and recruiters are trained on how to legally respond to candidates.

12. Rescinded Offers: This is not a new phenomenon. As long as background checks and reference checks have been around, offers have been rescinded due to bad credit (for financial roles), felonies, etc. The new angle of rescinded offers is that companies budget out new roles and then when they hit a revenue wall due to clients backing out of contracts, they find themselves without the funds and rescind offers. I have even heard from job seekers that companies close branches at the last minute as the new employee starts working.

13. Lower Salaries and Wages: This is an effect of the shaky economy and the recession that the world is experiencing. Not just the USA and not about to happen, but we have been in one for at least three quarters, if not a whole year. The cost of living has increased while wages have lowered and unemployment has increased. Employers are reducing overhead and one way of doing that in addition to reducing headcount via mass layoffs is to bring on new employees with lower salaries yet expect them to work 1.5 to 2.0 FTE workloads. The increased number of multiple job titles (e.g., Project/Product Manager/ Business Analyst/Executive Assistant/Personal Assistant) gives evidence to this expectation.

14. Paying to interview: While not widespread, some companies charge desperate applicants to take online assessments and the employer gets a kickback from the online assessment company.

15. Certification and/or Degree Requirements: These have always been preferred qualifications, but increasingly, employers are requiring certifications and degrees even for entry-level positions.

16. Specific Subject Matter Expert (SME) Required Qualifications: Employers want their Unicorns to have several years of experience in a specific tool or platform.

17. Assessments and Tests: These have been around for years. I remember preparing 45-minute to hour presentations during the first few corporate and academic jobs I applied to and got offers. These have increased in the last couple of years. I estimate that I have done assessments for 10% of the jobs I have applied for. I have only received two offers that included assessment in the interviewing process. Unfortunately, as AI rises in popularity, it will be integrated more into interviewing processes.

18. Expecting Years of Experience for Entry-Level Roles: In the good old days, you could get an entry-level with no progressive experience. Nowadays, employers expect 3-5 years of progressive experience for entry-level roles. This does not include internship experience. This makes it virtually impossible for a college graduate or a professional who is considering pivoting to another career to get hired.

19. Hierarchy of Candidates: I have observed that many employers will choose candidates who are currently employed and then select from the unemployed candidate pool. It is maddening and frustrating for unemployed job seekers.

20. Stuck on Gap Years: I have confronted several interviewers who dwelled on my work experience gaps. In one interview, the hiring manager took up all the time to grill me about all my gaps going back to when I started working in 1998. Another interviewer kept probing me about the three recent RIF layoffs I have experienced. Unfortunately, gap years are a huge red flag and many recruiters will disqualify those with large gap years and consider the applicant unhirable.

Yes, there are jobs out there. However many do not align with location, salary, experience, and skills. And the ones that seem like a perfect fit, there are hundreds of other people applying. It is definitely like playing the lottery.

Here are some tactics that have worked for me. Your mileage may vary. I by no means consider this advice. You do you. I know the last thing you need to hear are platitudes and advice.

So, what can you do to navigate through this brutal job market?

1. Networking: Contact people in your field. Contact recruiters and hiring managers. Contact past colleagues, recruiters, etc. Engage in other people's posts. Comment and like posts often. I have increased my networking efforts and starting to see ROI.

2. Marketing: Build your brand. I have focused on revising my LI profile and other social media profiles. I also have increased the posting of unique content. This has attracted recruiters and other job seekers alike and increased my engagements.

3. Fine Tune Resume: When you feel that your resume is stale, give it some new life. I revise my resume every few weeks. I tweak it when recruiters recommend that certain skills need highlighted to align better with job descriptions.

4. Upskilling: I am working on the Certified Scrum Master (CSM) and Project Management Professional (PMP) certifications. This will help to obtain future jobs.

5. Open to All Options: I have expanded my job search to include on-site and hybrid (within two hours of my house), bridge jobs outside my wheelhouse, contract, part-time (fractional), and temporary.

6. Focused Job Applications: I now only apply to jobs directly through company websites. I was getting up at 1:00 am MDT to apply for as many jobs as I could that were posted within the last 24 hours. Doing that for several weeks took its toll. I now apply for jobs in the evening and first thing in the morning. I only apply to jobs that fit at least 75% of the qualifications (both required and preferred).

All that being said, your one YES is out there. It just takes ONE referral, ONE recruiter to advocate, ONE contact from a hiring manager, or ONE application that aligns perfectly with the Job Description to get that one YES. Comes down to Timing and Luck.

I will continue to buy those candy bars hoping that one day I will open the wrapper to find a golden ticket.

May the odds ever be in your favor, #jobseekers. May the day come when you are released from this brutal Job Search.

Note: I am not an expert and I do not play one on social media. Don't shoot the messenger.