What to Know About the Current Job Market

Navigating the job market can feel overwhelming, especially in times of economic uncertainty. If you’ve noticed that the job search is a bit tougher these days, you’re not alone. LinkedIn 's Chief Economist Karin Kimbrough recently shared her insights with me on the state of the labor market, offering actionable advice for job seekers trying to land their next opportunity. You can find more details on the data she cites in the latest edition of LinkedIn's State of the Labor Market newsletter .

The Labor Market is Cooling, but Don’t Panic

The labor market has been slowing down for a while, and things have taken a noticeable turn since May. “The summer slowdown is real,” Karin said, but she added that “no one is calling for an imminent recession.” This means that while employers may have become more cautious when hiring, there’s no need to panic. Companies are still hiring — they’re just being more selective.

This shift means job seekers might need to adjust their strategies. If you’re feeling the pinch, consider widening your search. Casting a broader net by looking at different sectors or roles could increase your chances of success. Still, remember to remain focused on where you can truly add value.

Job Search Intensity is Up. What Does That Mean?

While hiring continues to slow, job search intensity is increasing. Essentially, job seekers are applying to more jobs than they were a year ago. “On average, the job search intensity…has gone up,” she said, with U.S. job search intensity increasing by about 4% over the past year. In parts of Europe, it’s gone up by 8%, reflecting a tougher market there.

So, what does that mean for you? Employers are likely receiving more applications for each open role. To stand out, you’ll need to tailor your application and focus on how your skills fit the specific needs of each role. Being more intentional with your applications can make all the difference.

Financial Services and Healthcare Are Seeing Increased Job Searches

Even industries considered stable, like financial services and healthcare, are seeing an uptick in job search activity. This increase could be a result of slower hiring in those fields, causing workers to feel the need to apply to more positions. As Karin explains, when people “feel maybe a little bit more desperate, they might be starting to cast that broader net.”

If you’re in one of these sectors, it’s a good idea to stay flexible. While it’s important to be strategic in your search, also consider opportunities that may not have been on your radar before. You never know where your next role might come from.

Baby Boomers are Returning to the Workforce

One of the most surprising trends is the increase in job search intensity among baby boomers. Karin shared that members in this age group have “unretired” themselves, re-entering the workforce. For many, inflation and economic uncertainty may be motivating this return, while others are coming back after stepping away during the pandemic.

If you’re an older worker returning to the job market, Karin suggests being prepared to cast a wider net. While you may know what you want, the job market might require more flexibility than in the past. Make sure your skills are up to date and think about roles that may not be an exact match but still leverage your experience.

Build Skills, Especially in AI

Karin’s parting advice? Focus on building AI-related skills, even if you’re not a tech expert. She encourages job seekers to “dip your toe in the water” and experiment with tools that can improve your familiarity with artificial intelligence. “Employers are really, really keen to take on talent that is familiar and is adept with basic AI skills,” she said.

Consider taking an online course or finding ways to incorporate AI tools into your current skill set. As AI becomes more integral to the workforce, these abilities can make you a more competitive candidate.

You can watch my conversation with Karin below or on LinkedIn by clicking here .

Resumes are foundational to your job search. Yet, people are often stumped when it comes to writing one. Kamara Toffolo , who is a job search strategist and LinkedIn Top Voice, joined me on the latest episode of my Get Hired podcast to explain what employers look for in your resume. She went section by section to explain what you should include. We also discussed common questions, such as how long resumes should be and how far back your experience section should go.

A transcript of the conversation is available by clicking here . You can listen to the episode above or wherever you like to listen by clicking here .

• How to calm pre-interview nerves? (Summary by Todd Dybas ) Interview prep helps calm your nerves and inform your answers. Both increase your chances of landing a job. Career coach Austin Belcak writes on LinkedIn that job seekers should create a list of "core questions." Those are basics like "tell me about yourself" and others to expect in the interview. Belcak says to draft value-driven answers that integrate the company's goals. He says to read them out loud for a week to refine them. Artificial intelligence can help polish the answers when asked how to make the answers more compelling. Click here to see what people are saying about it .
• What do recruiters look for in candidates? (Summary by Todd Dybas ) Career coach Jermaine Murray says recruiters want three things in a prospective hire: affordability, technical competence and personality that syncs with the team. However, he told CNBC Make It that most candidates have two of those three qualities — rarely all three. The proper skills and personality traits may lead to an outsized cost. Or they may be competent but hard to work with. Murray says you don't need every skill or experience in a job listing to apply. "You're qualified until someone tells you you're not." Click here to see more .