Record competition and tighter screening mean long waits for work
Filed under: Economy
You would have to go back about 70 years to find a time in U.S. history when it was tougher to find a job than it is now. There are 15.1 million people unemployed and as of August, there were 6.3 people for every open full time position, according to the AP. And if that were not bad enough, companies are much pickier than they have been in the past -- sometimes conducting eight interviews after which they just leave candidates hanging for months, reports The New York Times.
The latest statistics on job competition are sobering. That ratio of 6.3:1 -- representing the number of unemployed to the number of unfilled positions -- is based on 14.9 million unemployed to 2.4 million openings in August 2009. I am not sure how they come up with these numbers but, as I wrote earlier, a big reason for the substantial gap is that many of the people who are looking for work are not qualified for the jobs that are open. This suggests a skills mismatch (and a training opportunity) of epic proportions.
But another problem for aspiring workers is that employers are getting very selective. The Corporate Executive Board did research that concluded such pickiness led to better employees, according to the Times.
In 2003, CEB asked 28,000 new hires how many interviews they had to get their current job. Next, CEB analyzed the quality of those workers by scrutinizing their performance reviews and interviewing managers. CEB concluded that those who were interviewed four to five times were considered the best workers -- better than those who had been interviewed one to three times. Given affirmative action and civil rights laws, such hiring caution also helps keep companies out of legal trouble.
This means that people looking for jobs should try to keep as many irons in the job search fire as they can. They should keep looking and opening up new possibilities until they have a signed employment contract in hand.
And they should try to develop a thick skin because there is a good chance that they'll interview with potential employers as many as eight times, only to end up being ignored by the same people who just a few weeks earlier were giving them lots of encouragement.
Peter Cohan is a management consultant, Babson professor and author of eight books including, You Can't Order Change. Follow him on Twitter.
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Reader Comments (Page 1 of 8)
10-10-2009 @ 8:17PM
cyndi said...
I think anyone who's unemployed knows what the odds are. The last job fair I went to was a freaking ZOO. You couldn't even walk in there. Not only that, many of the so called "jobs" were actually colleges trolling for students.
Employers know they can be picky now, since there's so many unemployed...but it sucks for those who have limited to no work experience. You might as well forget it. Most of the people I know ( including myself) are blue collar...no desk jockeys or people with degrees, like engineers and doctors. HA! Good luck to us.
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10-10-2009 @ 8:25PM
M said...
Ain't that the truth! It's become dog eat dog where I live.
I moved from Florida to the biggest mistake I ever made ~
Las Vegas, NV. I get the feeling that people are lying to get jobs. And they seem to be MORE interested in hiring those that are Bilingual too.
They tell me, oh, we went with someone with more experience and I am like what?! I have exactly what you are looking for...then they throw in the lies.
I can't wait to get out of this nowhere land and back to Florida.
10-11-2009 @ 5:03AM
chris said...
I have a bachelor's degree, 14 years experience and have been unemployed for over a year. In every interview I have had the employer reports that they are having an overwhelming response--100 resumes, 30+ qualified applicants, etc--for one job opening.
It's a really tough job market for everyone.
=
10-10-2009 @ 8:47PM
joey bagodonuts said...
Time for Real Math, before "Let's Not Keep Score", "No Child Left Behind or Passed Like Gas. If we start Today, create 200,000 jobs a month instead of losing them, thats 2.4 Million Jobs in a year. 15.1 Million Unemployed divided by 2.4 Million = 6 Years BEST CASE SCENARIO. Will America wait until 2016 for things to get BETTER. THIS IS A WIZARD OF OZ CRACK SMOKING DILLUSION. 1 Million more " NO CHILD LEFT BEHIND" College Door Stops will be " PASSED LIKE GAS" and looking for a place or crib to flop into. It might be time to put the Chinese Language taught in Public Schools to some good use, change yor name to Ding A Ling, Baboo, Saboo or Long Dong and apply for a job in China, India, or somewhere overthere. Math Doesn't Lie like the Government or Media Carnival. This analysis could win a Nobel Peace Prize.
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10-12-2009 @ 1:44AM
hongxi said...
you are so funning!but,I think you can get a Nobel Peace Prize!
and if you or someother ones want to study beautiful Chinese,just
contact with me,Don't hesitate! My msn:hongxi_21@hotmail.com
10-10-2009 @ 8:53PM
Mead Carlson said...
We could start by getting rid of the illegals. That would open up a lot of jobs for American taxpaying citizens. Put the employers who hire illegals in jail, they know who is illegal for sure. Unfortunately most of the good jobs are gone for good. Now with a surplus of employees, they will cut pay and offer little or no benefits. Look at Wal-Mart the biggest employer in many places part -time low pay no benefits. In our area they pay minimum wage.
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10-10-2009 @ 9:03PM
M said...
I agree...get rid of the illegals. And STOP with requiring "Must be Bilingual". Bring the jobs back to those that are legal and those that know how to speak, Read and Write in ENGLISH.
10-10-2009 @ 10:06PM
gb said...
Actually WalMart pays above the national retail average and their percentage of workers who have health insurance is higher than Targets.
10-11-2009 @ 9:15AM
ENFORCE LAWS said...
Yes, get the ILLEGALS out -- they are a drain and strain on our economy and resources of our country! Hire more people to ENFORCE our LAWS -- this will create jobs also!
10-11-2009 @ 5:20PM
Tracy said...
As with most jobs including Wal-Mart you always have to start at the bottom and work your way up. Wal-mart hires within as with most large companies. If you were looking to hire someone for your company, would you not rather hire a person who is already working part-time (no benefits) and who already knows the job or hire a person off the street to fill that full time position over looking the part timer altogether. Wal-mart may start you part-time, low pay, and no benefits but if you are willing to hang in there and work hard to show you can do the job then the advancements are there. Wal-mart is not alone in the practice, most other large companies do business the same way. One more thing ( this is in no way intended to be sarcastic just factual) My husband works for Wal- Mart and I am a stay -at home wife. Our income level (over 90,000.00 a year) is considered middle class. Our benefits are some of the most excellent benefits there are. As I type my husband is out on leave due to medical reasons and Wal-Mart will continue to pay our regular pay check for the next 90 days. This is not insurance paying us but Wal-Mart itself after which if he still is not able to return to work then the insurance we purchased thru Wal-Mart ( which we paid next to nothing for) will kick in. Wal-mart does take care of its employees. You just have to be willing to give back which means hard work. A concept which America 2009 knows very little about with the exception of the very few who still believe that hard work and dedication to your job what ever it may be brings home a descent paycheck.
10-11-2009 @ 8:53PM
kendoll said...
It's just too convenient to blame the illegals. And if more bilingual persons are getting the jobs, and yes, I do mean those that are legal (Americans, green card holders) then don't blame them. They have a skill that you do not--another language in addition to English. And why shouldn't they get the job--that's what happens in a competitive capitalistic society, right?
10-11-2009 @ 9:29PM
Carlo said...
Getting rid of illegals isnt the best solution unless you want to go pick grapes or work at mcdonalds They are actually the only segment that is helping our GDP smarty pants. They do not compete for white color jobs.
10-12-2009 @ 12:52AM
cuteness said...
do you think owners of companies will start realizing this???
10-10-2009 @ 9:18PM
Durango44 said...
With no jobs available, it looks like more and more people will have to depend upon God to take care of them. The government sure don't care and the state reps don't care. Jobs gone out of the country and our freedoms are about gone too. The carpent is just about ready to be pulled out from America again. When is America gonna learn to not turn from the one who made her great?
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10-12-2009 @ 2:00AM
Wendy said...
Amen to Durango44. This great nation has fallen from her humility in honoring God for making us great. Returning to Him always helps in time of trouble. I feel the pain out there;I have lived many years at a very modest financial level. I also believe in self employment, so you do not have to answer to all those 8 interviews...
Sit down with your loved ones, pray sincerely to God to give you some guidance and counsel, listen to what He says, and step out in a bit of faith. Look at your core skills and begin to make a simple plan for survival first. Many of us have lived beyond our means for a very long time. I got into trouble with credit cards and cut those cards up in 2002. I live on cash and debit only now and for rest of my life. If you band together with loved ones, you can find ways to cover the core basics: a roof over your head,food, utilities, vehicles, and everything else is gravy for now. Every one of us has skills that can create a simple business, at least enough to keep you afloat until something better can manifest.God has never once abandoned me; I have always had shelter, food and clothing, plus basics to keep me going. Do not give up!!
10-10-2009 @ 9:19PM
bailoutsos said...
All of those that are looking for jobs, make sure your online presence is clean. A lot of HR people are checking social networking sites for information on applicants.
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10-10-2009 @ 9:24PM
sexy beagle said...
Those unemployment numbers are under . Those are the lucky people who are collecting unemployment benifits . Not even counting people who were denied the benifits . The unemployment number is more likey 20 -22 million people
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10-10-2009 @ 11:44PM
AJ said...
YOU CALL THIS LUCKY FROM 75000.00 TO 430 A WEEK ?
10-11-2009 @ 1:17PM
Dale said...
Learn to spell and you might find a job quicker!
10-10-2009 @ 9:30PM
Tim said...
Hay Obomann,, Deport the Mexicans that are not too be here. Wow 1.5 mill jobs
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