3 Strategies for Starting Your Job Search: Have you just graduated or just been downsized?

Last week (the last week of July 2024), the US Bureau of Labor Statistics (BLS) reported that the US nationwide unemployment rate ticked up to 4.3% in June 2024. Our unemployment rate in the US was only 3.8% one year earlier, so the change sparked recession concerns. Volatility ensued in world securities markets.

The detailed report, available online, shows that unemployment in certain metro areas is as low 1.8%. Most jobseekers compete in their local job markets—not the national market—so changes in the national rate are not a major concern, in our opinion.

This is also the time of year when new graduates seem to realize they will not be returning to school in September. Instead, they will be expected to enter the “real world.” Perhaps their family told them to “get a job.” It’s a shock for some, and a volatile economy may make it scarier.

Whether you are a new grad facing the professional job market for the first time, or a mid-career professional who fears downsizing in a changing economy, here are three tips I regularly offer:

1. Select a job target,
2. Estimate your market value, and
3. Prepare a career marketing campaign.

New graduates and other jobseekers may want to take these steps now. Start the process even if you are still taking a break after graduation, enjoying a year of severance pay after downsizing, or you think layoffs are coming.

Select a job target.

The most important first step you can take, based on my experience, is to set your job target. Start your job search journey with a destination—a job target or goal—as you would start any other journey.

A college career advisor I spoke with some years ago pointed out to me that her students could be in the workforce for 50 or more years. This is a long time to be in a job or career you are not suited for or do not like.

Your resume, LinkedIn profile, and other materials will be ineffective when you lack a job target. You cannot select the correct keywords to include in your resume or LinkedIn profile without knowing what job you are applying to fill.

For example, a former Starbuck’s manager and NCAA Division II coach asked me to prepare a federal resume for her even though she had no idea what government job she wanted to target. This left us with no specific job posting to write against and use for keyword selection. She has not found a federal job.

Overall, my experience indicates that you will get a better job in less time with a specific job target. A career coach I spoke with back in the 1990s liked to say “if your job target is wrong (or nonexistent), everything is wrong.” You need a destination to start this journey.

 Estimate your market value.

It’s a good idea to estimate your value before you go to market. Your salary will be determined by the economy, and not by your student loan payments and other expenses. Another way to look at this, and most other aspects of job search, is that the process is about the needs of your prospective employer, not your needs.

Many Web sites offer salary and wage information. Examples include Glassdoor.com, LinkedIn, and the US Department of Labor. Large corporations, non-profit organizations, and government agencies may also have salary-ranges right on their job announcements. Additionally, some states and local governments require large private-sector employers to disclose salary ranges either on their announcements or during the interview process.

Know your salary range before you apply for jobs. You will be asked about your salary needs at some point in the application process. Employers will eliminate you from contention when your salary request is outside their range.

Prepare your career marketing campaign.

A recruiter and career coach told me several months ago that the job search is now a career marketing campaign. This is because your LinkedIn profile and other social media are more like advertising and digital marketing. Recruiters and hiring managers will look at your LinkedIn profile and other social media, so the information they find should be consistent with the information on your traditional resume and cover letter.

The career marketing materials you should prepare include;

• Your traditional resume,
• A basic cover letter you will edit for each job application, and
• Your LinkedIn profile.

Certain industries expect job candidates to have additional marketing materials. For example, a fashion designer will need a portfolio. Journalists are expected to offer writing samples and recordings of their work.

Take advantage of your summer break or other career break to prepare the career marketing campaign materials you will need in the fall.

Concluding comments Recent events demonstrate that the economy and job market are unpredictable. Many of us have walked out of work one day and then found the virtual or actual company doors closed the next morning. So, be prepared!