Why You Can't Find A Job

you can't find a job well it's not just you I've applied to about 150 jobs between October to now and I'm still unemployed people came and find a job with multiple degrees this is not what I expected I graduated college a two degrees in Communications and acting I speak three languages this sucks even if they have experience already I just think that it is very very very funny comedic even that I used to run restaurants and now I can't even get a job as a HST and across different Industries you may be wondering like what happened with the other two companies guys Tech recruiting sucks I literally submitted a 100 over a 100 application for multiple companies I am a business consultant and I've worked 13 years with Healthcare domain yet allegedly there are 8.5 million jobs available and only 6.5 million people looking for jobs in the United States that's 1.3 jobs per unemployed person in this video let's figure out what is going on it's not just the us thing it's actually a global issue I'd also like to share some tips on how you can increase your chances of Landing a job but also share some alternative ways that people are finding success because securing a 9 to-5 job is not the only path applying for jobs especially at the initial application is a numbers game that is the more jobs you apply for the higher the likelihood of you Landing a job however that's not all you have to do you need to get your resume through the screening then Ace all the rounds of interviews and finally negotiate at the end to ensure setting yourself up for Success that is a lot and on this channel we talk a lot about using AI so that is why I recommend checking out the ultimate AI toolkit for job Seekers from HubSpot which you can download for free the First Resource inside is a list of 20 AI tools that you can use for your job search from job matchers to resume builders and interview prep tools my favorite part is the second resource which is a list of 60 chpt proms that you can use during your job search preparation research interviews and more it's so important to use the tools at your disposal in order to stand out in this difficult job market so I recommend you download this AI toolkit for job Seekers at this link over here also linked in description thank you so much HubSpot for providing Us free resources to Leverage The Power of aat and for sponsoring this portion of the video now back to the video this the job openings and labor T ofal survey called jolts that is conducted monthly by the US Bureau of Labor Statistics and at first glance it looks pretty good like I said there are 8.5 million jobs available and only 6.5 million people who are unemployed plenty of jobs that go around but if you take a closer look and look at this other chart a chart of hires that were made we saw that only 5.5 million people were hired which is the lowest in 6.5 years since December of 2017 also this chart that shows the number of people that quit we see that a lot of people are not quitting anymore the great resignation thing that is long behind us because people know that if you quit your job the chances of getting another one is pretty slim and this is what gives us a hint that the optimistic numbers may not be what they seem what counts as an available job is three things number one a specific position exists and there is work available number two the job can start within 30 days and number three it is actively recruiting outside workers so these are pretty vague criteria and there are a number of things that can make it seem like there's more available jobs according to these leaked documents published on inad in 2022 Amazon had an annual employee turnover rate of 150% that is crazy Amazon has 6 million employees worldwide and just to maintain that number they're hiring 2.4 million employees per year because the average tenure of an Amazon employee is only between 9 to 12 months so since they know that they're going to have these people turning over they don't even bother taking down the job postings and they just have it open all of the time at some point if they ever need anyone they can just you know pull from the people who are applying if you've been applying to jobs or I guess just like looking at the job boards for fun for some reason you also notice that there are a lot of identical postings that just have different locations listed and that's because a lot of jobs these days are hybrid where you can just choose to be completely remote so in order to attract the biggest pool of talent they would take the same job posting and just have it posted based upon different regions that are there because it doesn't really matter where these people are located and this just gives them better reach so even though you're seeing many different job postings it really is just for one position to be hired but at least those were for real companies are actually trying to fill those positions because there are also what are called ghost jobs these are jobs that were never meant to be filled in the first place why are all of these places hiring but like won't hire someone this is actually perfectly legal and companies have been doing it for a very long time however there has been a huge uptake in these ghost jobs which is why there's so many people on Tik Tok talking about how it's crazy cuz they would apply to these jobs and never hear back from them or they would even get to like the first second or even final round and then just get completely ghosted by that company that's because the jobs weren't real in the first place unfortunately so why are companies doing this well there's actually a few reasons the first reason has to do with the general state of companies in the economy right now companies and investors alike are becoming more cautious there's a lot of hiring freezes all across the country as people prepare for a potential recession however just because things aren't looking good now doesn't mean that they won't become better in the future right so to prepare for a hopefully better future they're building up this database of applicants who would be interested and potentially a good fit for the role so when they do want to hire in the future they can just mass email everybody or reach out to everybody on LinkedIn asking them if they want to um join a company then the data that's coming in from the applicants is also really useful for the company they're able to see like what people's competitive rates are what are the types of people that are applying to certain jobs what other jobs they may be applying for so all of this is really helpful in just getting a better understanding of the general markets even if they never intended to actually hire these people and third they're just pretending that they're hiring people in order to keep their current employees um happy and feeling better for example say you're working your job right now at your current company and since because there's a lot of layoffs that are happening potentially your team is now under staffed so there's a lot of work and you're the one that has to go and fill the position of not just like one person but like two even three people on the team you're working ridiculous hours and doing things that are not even part of your job description so you probably go to your boss and to HR and be like hey like this is not working out you guys really need to hire people because I'm busting my ass here and I'm like dying right now um so as the HR person and as your boss you can't just straight up be like no we're not hiring just suck it up right cuz if you heard that you probably just be like this and either just tap out completely or just like you know quit or something like that so in order to make you feel heard HR will put these job postings um and just be like look we're actively trying to recruit people right now but when nobody gets hired because they're not actually wanting to hire in the first place at least they can be like look we're still trying over here and so then you feel better because you're like oh like at some point there's going to be help on the way so they're just going to like squeeze as much out of you as possible until you're just like done for example based upon this report from a Business Insider an Amazon team posted nearly 25,000 job openings last year when only 7,8 00 had been approved of course Amazon is not the only company that's doing this there are a lot of other companies that are doing this as well which is why going back to the Chart right here there is a pretty low number of people actually being hired despite having a lot of job postings available on the other hand in order to count as an unemployed person you have to fit three criteria number one is that you don't currently have a job number two you've been actively looking for a job in the prior 4 weeks and number three you are currently available to work this criteria to count on as unemployed person is is pretty strict according to a recent economic news release titled employment situation summary the US Bureau of Labor Statistics reported that there are 5.4 million people who want a job but do not qualify to be counted as unemployed for example this girl jobs four jobs while I'm in college in rural Tennessee and I can barely pay my own rent she's working four jobs in order to make ends meet because she has to eat while she's looking for other jobs she doesn't count as being unemployed because she technically has these jobs this guy too I've been looking for a job since like the end of last year and of course I didn't have like much luck so of course you know sometimes I probably have to do a little bit of uber a little bit of door Dash just to get some money in my pocket he's doing contract jobs these odd jobs like door dashing Uber Eats um being a Uber driver or a lift driver but technically because he's doing these he's not actually considered unemployed if you're taking a break from job hunting or you just kind of like gave up um you also don't technically count as unemployed because you had not been actively looking to get a job in the prior 4 weeks a good job is very different from a job let's say you've spent four long years and are now in tens and thousands of dollars in debt because of your student loads in order to finally get your undergraduate degree in marketing congratulations you have now graduated and your natural assumption is that you're going to now go and look for a job related to marketing your degree but looking through the job boards you see very few positions that are hiring for marketing that you fit the qualifications for plus even those are paying really bad so you might think to yourself hm I should get a master's degree so that I qualify for more positions and I would earn better salaries this is the mentality of most people more degrees equal better job opportunities so no wonder is a huge shock that they get that degree and is even more in debt and still can't get a job still not even an entry level job everybody's thinking this way and there's actually a Chinese term for this it's called D It's when um everybody's trying to get more master's degrees like more degrees more certificates more Awards and trying harder and harder in order to compete for the top jobs the good jobs yet at the same time the number of these good jobs is actually decreasing according to a recent report by Vanguard by looking at the enrollment and contribution rates to 401K retire plans they are able to deduce a national hiring rate broken down by income level and what these numbers show is that there's actually a two-tier job market it's divided into a blue collar boom and a white colar recession among mangar's lowest earners which is on the blue collar side those who make less than $55,000 the H remate has actually held up well at 1.5% it's still at the pre-pandemic rates however among those that make over $96,000 the good jobs hiring has slowed down to 0.5% Which is less than half of the peak it reached in mid 2022 excluding the dips in the months of the pandemic because that was a very special time it's the worst it's been since 2014 so this makes a lot of sense if you're someone who graduated with the for your degree potentially have a master's degree and then most likely also have a ton of student loans you're not aiming for the lower bracket jobs you're trying to get jobs in the higher brackets and you kind of need to in order just to pay back those student loans unfortunately this trend is continuing and things are looking worse say you're looking for a job and you've be looking for months now and you still don't have anything what are you going to do well you're going to start examining the budget that you do have you're going to think about where you can start cutting cost how it is that you can spend less ESP especially with interest rates this high you're going to be pretty hesitant on borrowing more money only thing on your mind save more spend less well this is exactly what is happening according to the confidence board which is a global nonprofit Think Tank and business membership organization had a recent press release titled consumers more pessimistic about future business conditions jobs and income they report that consumer confidence is the lowest in the past 21 months with people particularly concerned about elevated price levels especially for food and gas dominate consumers concerns Starbucks your quintessential source for overpriced coffee just reported it's weaker than expected quarterly earnings and revenue the company's overall Revenue dropped by 2% and traffic to its cafes declined by 6% people are starting to cut down on little treats in life like $6 coffee because they just can't afford it anymore but the thing is since people are spending less now the companies are doing worse therefore they're not going to be hiring more people in fact many of them are laying off people so then people get laid off so they have less money to spend spend and then you know it's just like a vicious cycle and kind of adding fuel to the fire companies are also realizing that they don't actually have to hire that many people in order to sustain their business because of the development of new technologies like AI this has helped their current employees be more productive so allowing these companies to save that cost of hiring new employees on this channel I talk a lot about careers and also uh looming AI enabled layoffs so I'm not going to go into too much detail about it now but you can check out the video over here if you're interested in learning more anyways a lot of companies are starting to realize that they can use AI in order to compensate for less people but something else I want to point out is that this is not just a us specific thing global companies with many stores and franchises across the world is a really great way to compare what's up in different regions of the world there's this metric called same store sales which is a way to compare performance across stores regardless of location going back to Starbucks in the US same store sales is down by 3% last quarter this is not great but in internationally it's even worse they saw a 6% decline as both average ticket and transaction stopped in China for example which is Starbucks second biggest Market same store sales plunged by 11% fueled by an 8% decline in average ticket I've been in China for a few months now and China has a very consumer-driven culture and just visibly I can see how much consumption has decreased especially for larger cities like Beijing which I've mostly spent my time in um luxury stores and like things like that used to be packed full of people and now they're pretty much empty anyways the point I'm trying to make is that this unemployment problem is not a us specific thing it's actually a global issue in fact the US was kind of the exception to that rule but it seems like the US is regressing towards the mean of this not great global economy which means that this not great trend is likely going to continue as globally we're all doing not great okay so given all of this I hope you can see that it's not that people are being lazy like some boomers are implying cuz they're like oh unemployment rates are so low you're just being lazy and not looking for jobs it actually is an issue it's just an issue that is not um as clearly shown in the numbers the question you're probably thinking now is like that's great tinina so what am I supposed to do knowing all of this in my opinion there's two broad options here excluding the option where you just give up completely which I think you should definitely not do option one is that you're still trying to go for that 95 job except now you're more informed and the first things to be kind to yourself realize that this isn't an issue for everybody right now it's not just a you problem you also need to set aside unrealistic expectations where you can just apply for jobs and then you'll be able to land something it is going to be a grind you know that companies are having multiple postings even though they're only hiring for a single role you also now know that there are a lot of ghost jobs out there in which they were never intended to be filled this means that you need to be more cognizant about which jobs you're applying for like don't spend significant amount of time and effort in order to apply for jobs in which you have a slim chance of getting which just like don't exist at all so if you see a posting that has so many duplicates um just know that this is a job that you most likely shouldn't be spending a significant amount of time and effort on because there are a lot of people that are going to be applying for that single position and also check on the company that you're applying to if you see recent news that things are not going well for them there is a higher likelihood that these are going to be ghost drops if you see a posting that's been there for a while probably a ghost drob if you see a posting that's there taken off and the same thing is listed again probably a ghost drop I know a lot of people are going to hate hate me for saying this but networking is even more important now if you're going through your network not only can you be sure that it's not a ghost job getting that referral will help a lot in standing out against a very very big sea of applicants there's also a lot of content out there how to be better at networking and things I'm not going to go through that but you know focus on the networking part and finally upscaling this is something that is actually completely within your control learn the skill sets that are in demand right now things that other people applying for that position likely don't have the most obvious and applicable skill side is going to be on the technical side learning how AI Works learning how to build AI products because these are things that companies are focusing on option two open yourself up to more alternative careers and Lifestyles to this day a traditional definition of success is to go to a good University and then get a high-paying secure 95 job work hard save money and then eventually buy a house Boomer stuff white pick a fence American dream I do want to make a caveat that I'm not on this kind of Lifestyle there's a reason why it's the traditional definition of success and me personally one of my dreams is actually to buy a home but I also realize that given how high interest rates are this is probably not a great idea some of you may also know that I've been kind of semi-nomadic for the past 2 years somewhat not a choice but to be honest I'm glad that I somehow fell into this lifestyle because working for myself having my own business working on content as well as running um career programs I'm able to work completely remotely which is really great because I could travel and see new things and kind of like change my environment but also so it means that I can go to places in the world in which the cost of living is much much cheaper if I stayed in San Francisco where I was previously it's just the money that I'm making doesn't last that long but because I'm fully remote if I go somewhere like Thailand or China that I'm here it lasts two times three times even five times more than if I was staying in the states it's actually kind of ironic because for a lot of people the dream after having that traditionally successful career is to have the freedom to travel anywhere they want I guess many of us now kind of skip the stuff in the middle and like buying a house and things like that and just kind of directly go to the end goal I just want to point out that I'm perfectly aware that this is a privilege for me to live this kind of lifestyle and there are definitely pros and cons to this however technology has enabled more of us to be able to achieve something like this the time that you're spending trying to get that traditional 95 career I think if you spend a portion of that time also just kind of even like exploring um some Alternatives like focusing on contract jobs you may find that uh there is that path out there for you which is just different than what you've been taught finally for those of you thinking about college currently have a college degree or even thinking about a master's degree from this discussion I hope I can challenge your thoughts in terms of getting that degree equals better job opportunities and more degrees equals better job opportunities there are alternate ways of getting an education ones that are actually a lot cheaper and a lot more practical for example the company course careers is an alternative to traditional universities they teach you the essential skill sets except it's a lot cheaper and they focus on things that are actually useful in the real world which for a lot of universities um they don't actually teach you those things all right I hope this video has helped clarify some of the questions you may have some of the frustrations that you may have and help you have more clarity in terms of the next steps that you want to be taking to progress in your career thank you so much for watching and I will see you guys in the next video or live stream

Channel: Tina Huang

Views: 127,643

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Id: ElUtkHy3-zk

Length: 19min 22sec (1162 seconds)

Published: Fri May 31 2024