Despite the economists, there are always jobs!

Monday, October 31st, 2011 - Careers Advice, credit crunch, economics


Despite the economists,

there are always jobs!

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Who do you believe in a job search at present? The economists or the reality of the volume of job adverts and job boards? If you believe the former, then you are probably missing employment opportunity. Yet, if you tested the jobs market in the right way, you could quickly answer if they were right or wrong.

Today, both the ILO  and the OECD comes out with a report with negative economic headlines:

  • ILO, World of Work Report 2011: that a stalled global economic recovery had begun to “dramatically affect” labour markets. The result is that the global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, noting that in 45 of the 118 countries it examined, the risk of social unrest was rising. It concluded the report by stating that it will take at least five years for employment in advanced economies to return to pre-crisis levels
  • OECD, research body report: G20 leaders meeting in Cannes this week need to take “bold decisions”. Concluded that the rescue plan announced by EU leaders on 26 October had been an important first step, but the measures must be implemented “promptly and forcefully”. Research sowed that it predicted a sharp slowdown in growth in the Eurozone, and warned that some countries in the 17-nation bloc were likely to face negative growth

From reading these reports, the conclusion could be: don’t buy an umbrella, but a nuclear air raid shelter!

But, there are already signs of economic revival. We always knew from various commentators that this economic recovery was going to be rocky and “thin” (a nice way of economists and central bankers to say unpredictable), but the pressures on the supply side are building.

The UK housing website RightMove.co.uk in its latest survey shows that rental rates are at an all time high, and that rental occupancy is also close to an all time peak. Why? In part because banks have wound back their criteria for offering mortgages, and people still have to work and hence move, more young people are renting (the average age of first time purchasers is at an all time high of 37), and more people who do have to move are renting out their own property while renting in their new location. This isn’t creating spaces in the relocation chain, this is merely swapping one house for another. With building starts at an all time low, the result is a lack of rental property in the most popular areas (mainly the Southeast), and hence a rise in rental rates.

The second driver on the supply side is the happiness of employees. In many recent employee surveys, between 60% and 80% of employees are looking to move jobs. Why haven’t they moved yet? Because they are worried about the economy.

Analysis of the September 2011 unemployment figures showed that in the previous year, the private sector had created 450,000 jobs in the UK, while the public sector had lost 200,000 jobs. This in an economy that only grew 1.2%. If you had listened to the economists, would you have concluded that both statistics were correct?

As part of our Professional CV Service, we get clients to actively “test” the market that they want to work in. The test we suggest they apply is to find 50 jobs in their target sector, and then apply a traffic light system to assess the market:

  • GREEN: More than 50 jobs = your sector is recruiting
  • AMBER: Between 20 and 50 jobs = your sector is recruiting but you need to be cautious about the spread of jobs and employers
  • RED: less than 20 jobs = your sector is not recruiting

Of course, its possible to get a specific job if you have enough information about that job, that company ad that hiring manager to create enough rapport. But its not consistent in its results, there is no defined path to success, and as a result unless your job is disappearing, then what’s the point in risking a long period of unemployment? You should always listen to the market, and only occasionally to the economists.

Our average client gets employed in less than 10 job applications, because they follow a system which gets them ahead of the competition, close to the hiring manager, and hence employed. Yes, we can also get you employed in one job application, but its not something thatanyone should claim to be able to do consistently. If you can find 50 jobs in your target sector, and would like to know how we could help you, then ask for your Free CV Review.

Good Luck!

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If you need an interview winning solution, sign-up for our Professional CV service

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