How Come the Job Market Sucks Right Now?

Post N004

September 21, 2024

LinkedIn has become the place where hopes and dreams go to die. Why can’t the majority of us postgraduates land a job? Even people a few years older than me are getting laid off.

I’m currently at war with myself. Do I settle by working at Chipotle? Or do I prepare to count pennies after playing one too many rounds of golf, hoping that one of these days I’ll land a salaried position?

If you don’t think the job market is difficult right now, you’re probably a little self-centered. :)

What are companies preparing for? Is there something we don’t know? Are they desperate to cut costs? Did they take on too much overhead post-pandemic, and is it finally coming back to haunt them? Is it the election?

You look at a job posting, and it says over 100 people have applied. We know that number is closer to 500 or even 1,000. Need proof? I’ve been working for a startup, and they posted a position for FREE work. That’s right—an unpaid developer position. Guess how many applicants they received? Over TWO thousand.

If a startup company is getting two thousand applicants, how many are larger companies receiving? Imagine being the HR person tasked with rifling through 10,000 applicants (guesstimate). They probably have no way to manage that volume or the motivation to.

This article from CNBC had some interesting insights into what might be going on. They conducted a study showing that from Jan-May ’23 to Jan-May ’24, there were 148,500 fewer job postings for bachelor’s degree holders. Meanwhile, jobs that don’t require a degree have jumped by 64%.

I’m also reading that “the labor market is not weak, but uneven.” Roles in marketing have too many applicants, but jobs in accounting couldn’t be filled fast enough. Soft skills are also being prioritized over technical ones. You can’t really teach someone collaboration or empathy. So, the moral of the story is: be a better person!

Here are a couple of quotes from friends looking for work with degrees in economics:

“All these big companies are constantly hiring people. People are leaving, the company is growing, and new positions are being created. But most of the good positions never even make it to job boards or the general public because they go to people already working at the company, getting promoted internally, or someone gets the job through word of mouth—mainly through connections.”

“The ones on the job boards get like 500 applicants because the market is screwed, so the person who gets the entry-level position is always way overqualified, with like three years of experience. It’s a joke.”

“The good jobs will never go to people like us who actually go through the interview process. The only way to get a job nowadays is by knowing someone in the company. It sucks, but when it works for you, it’s great.”

I’ve also heard from sources that some job postings aren’t legitimate. It’s just people posting openings with no intention of filling them (mostly in the entertainment industry).

So, how do we navigate such a complicated journey? It’s best to stay optimistic and ask yourself, “Is this a universal sign to focus on my creative endeavor?” Maybe I’m not supposed to have that salaried job. Maybe I’m not ready to work in a corporate office and sell my soul.

This is the PERFECT time for the creative commune. We need our ticket out of this rat race (thanks, Ryan). And the only way it’s going to happen is if we come together and collaborate. If this group of individuals can come together and build an 8 x 8 ft cube in my backyard, then we can make just about anything happen. We’ve got to stay together and live a little.

Garrett, go write that script. Jaidin, go make that film. Lucas and Max, go make the album. Max from NYC, go draw your comics. And Tyler, keep working on the brand. This is the perfect opportunity to harness our creative abilities. Look to your backyard for inspiration and just start building something.

It’s clear that companies are becoming more selective, and this job market is more complicated than just numbers and the idea that you’re entitled to a job because a piece of paper explains what you know about the world. So please, use this time to prioritize yourself and what you believe in.

We’re postgraduates, and we don’t need to pay our mortgages yet. We’re going to be okay.

Sorry this one took so long! I appreciate you all for reading these, more to come!