If you are like me, you are curious about what to expect in the job market in the next few years.

As we get settled into another year since the shocking Global Pandemic that first rocked the world in 2020, we must reflect on how far we have come, and the challenges we have ahead.

Since the Pandemic, almost 7 Million people have died of the COVID-19 Coronavirus globally, with countries like India, the United States, Brazil, Russia and Mexico being among the hardest hit.

Between 2020 and 2021, we witnessed global financial growth that propelled companies to unprecedented market capitalizations.

In order to adequately address the marked increase in demand, companies began to make added investments in their workforce, resulting in a period of heightened job creation and commensurate salary increases. According to the United States Department of Labor, in October 2021 there were an unprecedented 11 million job vacancies.

As we know, what goes up, must come down. In 2022, the Federal Government's decision to increase interest rates had an adverse effect on many companies, resulting in a decrease of their share values and subsequent employee layoffs. Specifically, 1,013 tech companies laid off 153,160 employees. Notable examples include:

Meta. 11,000 layoffs 

Amazon. 10,000 layoffs 

Uber. 6,700 layoffs 

Booking.com. 4,375 layoffs 

Cisco. 4,100 layoffs 

Twitter. 3,700 layoffs 

Better.com. 3,000 layoffs 

Groupon. 2,800 layoffs

The tech sector is undergoing a major transformation in its labor force, which is projected to continue through 2023, according to the 2022 PWC Pulse Survey. This means that the job market is becoming increasingly competitive.

As you prepare for your job search in 2023, here are some common mistakes to avoid:

1. Lack of preparation: Failing to research the company and position, having a poorly written resume, or showing up for an interview without a clear understanding of the role can hurt your chances of landing the job.

2. Not targeting your job search: Applying to every job that you qualify for, without considering your skills, interests, and career goals, can lead to frustration and missed opportunities.

3. Neglecting your online presence: Failing to maintain a professional image online, including your social media profiles and personal website, can prevent potential employers from finding you or harm your chances of being hired.

4. Being passive in your job search: Waiting for opportunities to come to you, instead of actively reaching out to potential employers, can limit your chances of finding a job that fits your skills and interests.

5. Underestimating the importance of networking: Neglecting to build relationships with people in your industry or failing to network effectively can prevent you from learning about job opportunities, getting advice, and gaining insights into the industry.

6. Being negative or unprofessional during the interview process: Failing to ask thoughtful questions, complaining about your current employer, or demonstrating a negative attitude can hurt your chances of being hired.

7. Not following up after the interview: Failing to follow up after the interview, whether by email, phone, or letter, can send the message that you are not interested in the position or that you are not professional.

As competition for opportunities continues to rise, the job market is likely to improve as geopolitical tensions ease and the Federal Government lowers interest rates.

To remain competitive, it is important to avoid common job search mistakes.

To learn what you SHOULD DO in your job search, download Your 2023 Recession Proof Job Search Strategy.

Your Career Cousin,

Jessica Davis