Unemployment

Unemployment is a problem that doesn’t appear to be going away.

The U.S. unemployment rate has been trending upward since 2022 and the latest numbers put it close to 4.3%. While that may not sound bad on the surface – one has to wonder how Kevin Warsh, the next Fed Chair will respond.

Applicants today are sending hundreds of resumes and jobs are flooded with applicants. With dozens of Workday and a slew of other accounts, managing passwords and different versions of resumes and cover letters becomes incredibly tedious. Making matters worse is the long review periods and little feedback to help prospects see if they are getting any traction.

All of this, of course, is compounded by the difficulties of ATS systems and AI.

For that reason, comparing unemployment rates to past decades seems to be unreliable. The game has changed.

Unemployment rates may look similar on the surface, sure. The purpose of resumes in the modern age is and always has been ostensibly to show promise, establish credibility, and provide a track record of achievement. However, what’s not shown is the meticulous editing, contextualizing, and manicuring at speed and scale that the current market requires.

It’s no wonder that those with jobs are tending to stay put, though they would prefer to move to different endeavors.

Add to this complexity is the ever changing role and future proofing that is needed to make sure applicants are trained on relevant and enduring skills lest they be pushed out of the market again.

Fortunately, it would seem that those with big ideas, are finding themselves in the enviable position of having a large talent pool to spin ventures from. Let’s make the most of it!