The New Realities in the Job Market

There is no denying that the US economy drastically changed after 2008. Some can argue that over the last few years the economy has seen measurable improvement. Still, the job market is nowhere near what was in early 2007 and late 2006. Now, people who have jobs must work harder in order to keep their jobs. This means that they show up to work on time, they do their job well, and they work to build a good reputation with their employer. Things like seniority and years on the job do not matter as much. Businesses are looking for someone who can do the job well and who can do the job for a reasonable salary.

Businesses are more eager than ever to trim the fat. If they see employees that they feel are a liability, they do not think twice about letting these employees go. In fact, many companies are willing to spend good money in order to purchase software or to purchase devices like biometric time clocks to help them identify which employees are productive and which employees are costing them money because of their absenteeism or other forms of negligence.

Interestingly, this is had a ripple effect in all sectors of employment. Now, it is not uncommon to walk into a restaurant and see a waiter who is clearly overqualified for the work he is doing. Restaurant owners are now receiving resumes from individuals with college degrees and from individuals who used to work in high-powered, white-collar jobs who are looking for any employment that they can find that will help them to pay the bills.

Employers now have the option of being picky, which is good for them. They can be selective and make sure the people they hire are the right ones for the job. And if employees are not working out, they can simply let them go. Job employment, like everything else, is really a matter of supply and demand. Right now, the supply of well-trained employees is very high, and the demand for hiring new employees is very low. It is an employer’s market.

Anyone who is looking to get a job or retain their job realizes that for the time being they are going to have to work twice as hard, expect lower pay, show up to work on time, and have a positive attitude. If not, employers have many options to choose from.