The REAL Job Market
Despite what you might believe or read, there are PLENTY of jobs available in the United States… in ANY economy.
According to the Bureau of Labor Statistics’ JOLTS data, every month U.S. employers hire about 4 MILLION people. That’s nearly 50 MILLION job openings every year.
In a bad economy, the number of job openings depends on turnover rates – the annual rate at which employees are replaced when they quit, get fired, retire, return to school, move to a new area, leave the workforce because they have children, get sick or die, etc. (the minimum of hires and separations).
Notice in the graph below that employers are currently replacing 36% of their employees every year.
In an expanding economy, this number of new hires will increase due to expanding staffing levels.
But 70% – 80% of job openings are never advertised because:
- Technology has enabled job seekers to flood companies with resumes; so many companies no longer advertise their job openings.
- Hiring managers DON’T want to write a job advertisement, post it, read through resumes, and conduct interviews over the next 2 – 4 months to find a new employee. The process takes a lot of staff time and it takes too long.
- Small companies (employers with less than 100 employees), which make up 99% of all employers – and 66% of all jobs – in the US, don’t have the budget or HR resources to actively seek the best talent.
The point is you do not need to wait for the economy to improve before you can change jobs. There are plenty of jobs available – if you know where and how to look.
Why You MUST Search For Hidden Job Openings
In a Hidden Job Opportunities Breakthrough search, you take leadership and control of your job search. Rather than competing for whatever advertised job openings you happen to find online, you target employers to find unadvertised job openings for the job titles you want.
The Hidden Job Opportunities Breakthrough search strategy works so well because:
70% to 80% of all job openings ARE NOT advertised anywhere. Said another way… for every job that IS advertised, there are 4 times as many jobs that are NOT advertised.
Just 5% of all job seekers target job openings that are NOT advertised. This strategy will often result in you have little competition for hidden job openings that you find. (Said differently, most job seekers subject themselves to job search strategies with the highest level of competition and lowe odds of success by applying to only the largest employers.)
Because you directly contact hiring managers and decision-makers, you avoid being screened out by Human Resources. While the Hidden Job Opportunities Breakthrough search strategy should be used by all job seekers, it is especially important for people who are making a job or career transition.
Employees typically remain in a job today for about 3 years. Said differently, about 1/3 of all jobs will be open over the next 12 months. Some are open today. Some will become open next week, next month, etc. When you respond to an online job ad, you are targeting only current job openings. When you use a Hidden Job Opportunities Breakthrough search, you are targeting both current AND future openings at employers.
‘Hidden’ unadvertised job openings are available on ALL levels and in virtually all industries. ANYONE (even if you are right out of college) can enjoy the benefits of the hidden job market.
Using the Hidden Job Opportunities Breakthrough search strategy means more job opportunities, less competition, avoiding human resources, putting yourself directly in front of hiring managers, and an easier job search if you are not perfectly qualified for the type of position you want to land.
And if you needed yet another benefit – because you deal directly with the hiring manager who has an immediate opening, the hiring decision is often made very fast!
Read Module 1.3 now: Mindset for Success
New: You can mark this content as completed…. and please let me know how helpful was this content!