Nancylee (Nancy) Matles’ Post

Is the U.S. job market worse than the official data suggests? This story by Callum Borchers reflects the frustration that many jobseekers are experiencing, in the sense of longer periods required to land employment. Anecdotally, it appears to be most common for so-called white-collar professionals. I appreciate the opportunity to be quoted in the article, of course. More importantly, the reporting reflects the real-world tension between the reported data and the sense among job seekers who don't trust the data. My way of explaining that disconnect goes something like this: Both can be true and neither reality is mutually exclusive. We can have low unemployment, running below 4% for more than two years, and it can also be the case that some are having a tougher time finding work. Job openings are down from their post-pandemic peak, down from the previous month and a year ago. At the same time, they are above pre-pandemic levels. As technology is increasingly relied upon in hiring processes, it has become impersonal. That's fostering frustration linked to the silence associated with waiting to hear whether the search is successful, or even where it stands at all. Finally, LinkedIn is a terrific source for helping to foster connections and support. Let's do what we can to help one another in the job search space and beyond. BTW: We have many openings at Red Ventures and within our Bankrate operations. Join our terrific teams!

This article is a must read for those who are graduating from universities this month without a job. If you don't have a job already, you will soon discover how tough it is out there. Here are three pieces of advice that I often share with my job search coaching clients. 1. Prepare yourself for the long game. If need be, take a part-time job so that you can sustain yourself while you're looking. 2. Spend the majority of your time building relationships with fellow alums. You can easily find these people on LinkedIn. These people will be more apt to help you in your search than strangers. 3. Limit the amount of time you spend applying for jobs online. Sure, you could get lucky, but when you look at the number of applicants who are applying for the same job as you are, you'll see that the odds are not in your favor. What advice on job searching would you offer to the class of 2024? #newgrad, #classof2024, #gettinghired, #topvoice, #topvoices, #robertamatuson

Interesting dichotomy here in the labor market. We've had historically low unemployment for several years, but the sentiment is that it's hard for many to find work. I like what Mark wrote about that below: "Both can be true and neither reality is mutually exclusive. We can have low unemployment, running below 4% for more than two years, and it can also be the case that some are having a tougher time finding work." But why? To unpack it, you'd have to really do a deep pivot in the data by industry, by market, by segment to understand what's going on. We can't look at the broader country and assume one data point tells the story. From what I hear, healthcare, retail, food service and other service-based industries are still struggling to find workers, but it's the companies that have the upper hand among tech, sales, legal and other corporate roles. What are your thoughts? #laborMarket #Labordynamics #Recruiting

The current picture is so messy, confusing and contradictory. We're confused, exhausted and polarized. We have no mental playbook or frame of reference for coming out of a pandemic with a modern, globalized economy - which turned out to be much more sensitive, fragile and not nearly as resilient as advertised. (Keep in mind, PLENTY of money was made by those who already had more than their share) All that free or nearly free PPP, EIDL, IRA, CHIPS etc. money propped up all that hiring. We were already overdue for the "usual business-cycle" type of contraction. Q1 2020 was 11.5 years after the Lehman meltdown kickoff to 2008 (Wouldn't be nice to have an old-school recession that last 3-5+ quarters? Instead we've had the mega-crises of Post-9/11, 2008 Housing meltdown, 2020-2022.) 9 years of Putin-engineered disinfo. He's managed to change the subject from Ukraine to HAMAS with a single phone call, amirite? All the global players meddling in the USA 2016, 2020, 2024 elections. We're not going to get much in the way of clarity or comfort or confidence in the next 3-5 quarters. Improvise, Adapt, Overcome. Lather, Rinse, Repeat

My post on the current state of the job market for many people has been featured by the team at LinkedIn News. Here's what I had to say on this topic:

This take on the current job market and challenges job seekers face is spot on. Especially about companies dragging out the process, ghosting candidates or posting jobs that don't exist. For job seekers it is critical to have the right strategy. And thick skin. #jobsearchtips #careersearch

Struggling to land your dream job? You're not alone. This insightful article from The Wall Street Journal sheds light on the challenges many white-collar professionals face in today's job market. https://lnkd.in/gDCBe4P3 As a recruiter, I've heard countless stories and even seen firsthand the frustrations echoed in this piece: prolonged hiring processes, ghosting by employers, and roles not being filled despite hundreds of applicants. It's time we address these issues head-on and work towards a more transparent and efficient hiring process for all. Let's keep the conversation going! #JobMarket #RecruitmentChallenges #LinkedInDiscussion #hiring #jobseekerchallenges

Challenging times indeed for job seekers, as echoed by the insights shared in this Wall Street Journal post. It's crucial for recruiters and employers alike to recognize the impact of prolonged hiring processes and uncertainties on candidates' morale and confidence. Let's strive for transparency and respect in the hiring journey to foster a healthier job market for all. Do you feel that the job market is currently strong? Link: https://lnkd.in/earMfvww

Controversial observation: Job seekers should not be put up against internal candidates in hiring cycles. I have been on the hiring side of recruiting for more than two decades. It's my firm belief that external candidates should not be in a "bake-off" against internal candidates (and vice versa). If you are looking to fill a role... Do the due-diligence and exhaust your internal options first. Once done, promote and recruit externally. But when you've moved on from the internals, move on. Internal candidates have an understandable advantage over external ones and should always be considered. Give external job seekers a fair shake at the roles they are applying for. This job market is hard enough and #opentowork folks should not be put through the paces only to learn the job was never FOR THEM to begin with.

To anyone struggling on their job search at the moment: KEEP GOING! ✊ While a lot of companies are winding down for Christmas, hiring plans for the new year are still going ahead – a lot of companies we’re working with are looking to interview now but for candidates to start in the new year. So, if you’re finding the market slow at the moment, you’re definitely not alone – but to keep going, especially during the Christmas and New Year period will help you stand out more to employers and might help you in the new year! #JobSearch #KeepGoing