RECESSION: Understanding The Job Market During Hard Times

The cold hard truth is that the working force is comprised entirely of people who get hit harder than anyone else during a recession. As you no doubt have experienced firsthand, the employment rate is perhaps the first major casualty of economic downturn.

Unemployment

There's simply less money going around during a recession. This means that companies cannot afford to staff as many workers as they otherwise could. As a result, people are laid off, and there are fewer new openings.

Not only does this mean that there are fewer positions, it means that there are more and more qualified individuals out there, without work, looking to fill those positions. In other words, it's a very, very competitive job market.

Going the Extra Mile

What you should understand, first and foremost, is that your qualifications, your degree, your past experience, they don't guarantee you the job anymore. All of that only guarantees you an opportunity to get your foot in the door. That's it.

In other words, you can't coast on your credentials alone. You may be an MIT graduate, an expert with ten years experience in the field or a Prize winner. Unless you're also the only son of the company's CEO, there's no award, title, position, degree or golden ticket that's going to guarantee you any job you want.

What you need to be able to do is offer something more than the next candidate can. With so many people attempting to fill so few positions, employers aren't just looking for a qualified candidate. Qualified candidates are a dime a dozen. Employers are looking for someone who can be a boon to their company, and not simply just another employee.

This is true at every level from managing an office to working as a janitor. Anyone can grasp the job and get it done, but not everyone can offer strong leadership, creative problem solving, or a strong work ethic. Whatever you can offer that the next candidate cannot, that's exactly what you need to play up in your resume and during any job interview.