So, what exactly is happening in the job market right now?
Summer is typically a slow time for the job market and hiring in general, with candidates and hiring managers alike taking advantage of downtime and school closures to travel. But recent talks of the US facing increased economic downturn and potential recession have further complicated the job market, begging the question:
Is right now a bad time to start a job search or change careers?
Bigger names in tech and finance have been among some of the latest to announce layoffs, including Tesla, Microsoft, Coinbase, and JPMorgan.
But while downsizing is happening in certain sectors, other trends are popping up right now that may translate to more opportunities for job seekers and career changers. Namely, an increase in both remote work opportunities as well as diversity in the nature of those roles – i.e. moving away from emphasis on full-time employment to also include part-time, contract work, project / consulting-based roles. These kinds of working environments are expected to grow in 2022, prompting companies to adapt and embrace flexibility – potentially good news for job seekers!
Brooklyn Resume Studio’s resident career coach and contributing resume writer Dawid Wiacek weighs in on how job seekers are feeling, how they’re spending their time and effort – and why some people are excited about the prospect of change.
BRS: There’s a lot of economic uncertainty right now. Are people more afraid now to change jobs and careers than in previous months?
DW: The typical response is one two things – fear or excitement.
The “fear group” is hesitant to leave their current jobs, but they are also starting to notice the writing on the wall, and they’re focused on proactive preparation. So they’re busy working on updating their resume, their LinkedIn profiles, and cover letters, in addition to polishing their networking and interviewing skills just in case.
The “excited group” is also about being proactive, but in a different way. They choose to see the nebulous job market as an opportunity to try something new, versus passively waiting for cues from their employer – whether that’s restructuring, furloughs, or layoffs. Anything that will ultimately impact their job satisfaction.
BRS: We typically see a slowdown in hiring during the summer months. What’s different this year?
DW: Separate from macroeconomic changes in the job market, many industries do slow down in the summer and people take this opportunity to utilize their time off, plan their next move, or just recharge their mental batteries.
Others are using this downtime to expand their networks, research potential employers, and start building job search momentum so they’re a step ahead of the pack when hiring picks back up around September.
BRS: Are there trends happening right now that we haven’t seen before?
DW: As we’re seeing in the news, even some of the highest-growth sectors like tech are no longer immune from layoffs – everyone from Netflix down to the smaller startups. And professionals have to be prepared for this. Technical skills alone don’t guarantee a job offer. Resiliency and adaptability are paramount right now – along with an updated and optimized resume, LinkedIn presence, and polished interviewing skills.
BRS: Does it make sense then to stay in a job /company even if you’re unhappy?
DW: In my experience working with hundreds of job seekers over the years, I more often see individuals regret staying in a miserable job for too long or pushing themselves to the point of burnout, versus trying something new. Whether they’re entry-level or C-level, when someone starts to feel stagnation in their growth, salary, or career trajectory, that’s usually when they realize it’s time for a change.
BRS: What is your advice for someone who wants to make a change, but is hesitant or doesn’t know where to start?
DW: Find a bridge that will help you move into the next opportunity. Sometimes that change is transitioning employers, but maintaining the same overall job function. It could also mean staying with your current employer, but asking for higher compensation, a loftier job title, or a change in responsibility.
For others, it might be transitioning industries altogether – going back to school, taking time off to build new skills, or just taking a hiatus from the workforce.
BRS: What is the most in-demand skill or attribute right now?
DW: Adaptability is probably the number-one trait you need right now to succeed in a constantly-changing marketplace that’s heavily-driven by technology. That, and perhaps a willingness – or even a passion – for change.
While no one can predict the future of the job market, you can definitely increase your chances of success by adopting the right strategies – updating your resume, elevating your LinkedIn presence, practicing your interviewing skills, building your network, even keeping up on the news and industry-related trends.
Whether you’re passively looking, actively seeking work, or being proactive in planning for the future, we can help you put your best foot forward with an optimized resume that stands out. Contact us to get started.