Get Hired with Andrew Seaman
What to Know About Getting Hired in Today’s Labor Market
Sep 19, 2024
Karin Kimbrough, LinkedIn's chief economist, dives into the latest labor market trends, revealing a shift in job application intensity, especially in Europe. She highlights a surge in job searches across sectors like financial services and healthcare, along with baby boomers seeking new opportunities. Karin shares strategic advice for job seekers, emphasizing the importance of a targeted approach and flexibility, while also underlining the growing value of basic AI skills to catch employers' attention.
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Quick takeaways
- The current labor market shows a cooling trend with slower hiring rates, yet employers continue to seek candidates cautiously.
- Baby boomers are increasingly re-entering the job market, adapting their search strategies in response to financial pressures and evolving career goals.
Deep dives
Current Trends in the Labor Market
The labor market is currently experiencing a cooling trend, with slower hiring rates observed across various sectors and regions. While the unemployment rate has risen in large economies, it is noted that employers are still hiring, albeit more cautiously. This slowdown is reflected in the increasing job search intensity, characterized by a rise in the average number of job applications submitted by candidates. In the U.S., this intensity has increased by about 4% over the past year, indicating that job seekers are broadening their search to increase their chances of landing a position.
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