The Times They Are A-Changin
We won't have the updated job numbers from the Bureau of Labor Statistics today with the brief government shutdown, so we're relying on other sources to get a clearer picture of where this market is right now.
The chart above caught my eye on LinkedIn because it tells the story that so many are living right now. According to Revelio Labs, we had a net loss of 13,300 jobs in January. On its own, that number might not sound alarming - but when you compare it to net gains of 500,000+ jobs in some months of 2021, it’s clear just how much the market has shifted.
I keep sharing this data so that folks can stay grounded in this market. If you are or someone that you know is struggling, there are real market factors at play. It's just common sense that it's going to be harder to find work in a market that has fewer jobs available and more people competing for them.
That said, people are still landing jobs. It’s often taking longer than it did in past markets, but opportunities do exist — especially for candidates who are positioning themselves strategically.
I spoke with AARP recently about what experienced folks can to "age-proof" their resumes. I recently had a 70-year-old client land a tech job, so it absolutely can be done.
One quick tip you can use today: Use your résumé to actively debunk common stereotypes about older workers. For example, show off your new AI class or certification to combat the unfounded assumption that experienced workers aren’t good with technology or highlight any recent job-related upskilling you’ve done to show that you’re continuing to learn and add new skills.
I don't know that this is all going to get better any time soon. January layoffs were the highest that they have been since 2009. I'm not sharing this to scare you, but I just want you to be aware of where the market is now. You can look at the trend on the chart above - it's not a great story. You can find a job in this market, but it's probably going to take more time and effort than it would have in the past.
Hang in there. I'm cheering for you from here. And keep me posted on how things are going, OK?
This week's LinkedIn posts:
"How long will it take to land a new job?"
Poll: Do you trust your current employer? (1300+ votes)
This week alone I talked with 5 clients in their 50s and 60s who have run into the same scenario
Recent client question: "I’m 58 years old and I want to prepare for the future (i.e. work for the next 10 years). I’m currently working - how can I set myself up for success?"
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As always, thank you for being part of this community.
Best -
Colleen
