September 5, 2024

September is HERE! Yay! This is exciting for several reasons …

1) There are traditionally two great times of the year to look for a job - Sept/Oct and Jan/Feb. In September, the Summer Slump is coming to an end, people are back in the office, and companies are setting their Q4 goals … Hiring typically picks up in September. (It's called the "September Surge.")

In fact, we’re entering a good stretch for the hiring season. September and October are strong. November still gets some action too. Things slow down in December, but then January and February are typically quite strong. Yay for momentum! 

2) I have been saying for five months that the Fed will lower interest rates in September. Now, I don’t want to curse it, but there are indicators that this will indeed happen during their next meeting on Sept 17-18. 

Lower interest rates would be great news for many reasons, namely because the cost of borrowing money goes down. This is good for the job search because when the cost of borrowing goes down, companies are more willing to invest in talent and R&D. Which means more job openings! 

3) I live in New England and fall is my FAVORITE season - some leaves are already starting to turn and it’s just magical. In the evenings, there is a crispness to the air. Apple picking will be here before I know it!

4) BACK TO SCHOOL! Parents - we made it through summer! Huzzah!

THE STATE OF THE JOB MARKET 

We’re going to get August’s jobs report tomorrow, and I don’t expect it to be good. This summer was ROUGH for job openings. We saw downgraded numbers for the July report and I expect August’s report to look the same. 

I have been career coaching since 2016 and I’ve never seen a market this wild. What’s going on? 

In 2021 and 2022, we had “The Great Resignation.” We had a robust job market because the country was recovering from COVID. The power was with the employees as employers competed to recruit top talent. 

In 2023 and 2024, the power is now back with employers. Companies are “going lean” because they realized they overhired post-pandemic. Many are eliminating positions, choosing to offshore jobs or replace them with AI. We’re in a “white collar recession.” So we’ve got very talented people competing for fewer positions. Because it’s a competitive job market, we’ve also got ridiculous job descriptions - “entry level” jobs requiring five years of experience, salary offers that are way below market value, and tons of rescinded offers. 

If you’ve been having a rough time on the job search, you are not alone. This job market is very competitive and hiring typically slows down during the summer months. But September brings a fresh new energy, new possibilities, and I hope it blesses you with a wonderful new job. 

To your success,

- Emily  

PS: Are you following me on LinkedIn? I post loads of job search advice. Here are some recent popular posts: 

  1. How to find people who are hiring right now
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