If you hope to get a job soon, you’ll be encouraged by what I heard at the fourth annual Indeed.com conference (“Search for Greatness”) held last month in Austin, Texas. The upbeat forecast for job hunters: The job market is hot, employers are having a tough time finding talent and more companies want to recruit a diverse workforce.
Since Indeed.com is the world’s largest job search engine and the dominant player in the online employment space, it’s no surprise that this year’s conference attracted over 1,700 employers eager to learn from Indeed’s executives and economists about the most effective ways to recruit talent in today’s competitive hiring landscape.
So what does a tight labor pool mean for your job search? I’m a career coach, and here’s my take based on what I learned from the conference:
How the Job Market Looks for Job Hunters
First, let me set the stage for you. The job market is sizzling hot (for most Americans). The unemployment rate overall just dropped to 3.8%, the lowest in 18 years, according to the U.S. Bureau of Labor Statistics (BLS). “That’s even lower than what we saw during the tech bubble. There is now a job opening for every unemployed worker,” said Jed Kolko, Indeed’s chief economist.