The job/economy disconnect

The Elevator Pitch:

An opening thought on the state of job searching right now

Job search distress. It's not just you and your LinkedIn—the reality is it's becoming harder to get a new job. New job openings are at a three-year low in the US, while fewer and fewer people are quitting their current jobs. 

But don’t despair. Pendulums swing, and market tides turn. As our environments evolve, so do we. We’re here to help you navigate the change and keep you moving toward your dream career. You got this.

It ain't easy being green

More than half of college grads are "underemployed." According to the New York Times, 52% of college graduates are underemployed a year after graduation. This means they're working jobs that don't require the degree they earned.

This is a recent trend, concentrated in non-technical fields like marketing and human resources. The market looks significantly better for recent graduates in fields such as nursing, computer science, and accounting.

So it makes sense that 59% of the class of 2024 say they're concerned about covering basic living expenses after they graduate.

The result? More graduates are dodging the high-risk, high-reward landscape of startups in favor of stable jobs like government or Fortune 500 companies.

The rise in job uncertainty for college-educated Gen-Zers manifests in higher unemployment (from 9% to 13%), lower starting salaries, and subsequently lower career earnings.

If you're having trouble finding a job post-graduation, I’m here for you. (I've been there, and I know how much it sucks.)  Just do one thing for me—send me an email letting me know what's going on. I'll do everything in my power to help you land a job.

Tech layoffs are on the rise

Layoffs are hitting tech far and wide. Companies ranging from Peloton to Google to Amazon to Tesla are laying off significant portions of their workforce. As high interest rates have delivered a new focus on profitability, the mantra of "grow at all costs" has abruptly ended, leading to companies reducing their workforces to cut costs.

The glimmering allure of tech has dwindled in the past few years. Once the path to seemingly sure riches, tech workers now grapple with a sense of disillusionment and a lack of security. The abruptness of the layoffs leaves all employees on edge.

In 2024 alone, the US tech sector has shed more than 74,000 jobs. Compared to the 303,000 new jobs added to the US economy in March 2024, the tech hiring sector has been particularly affected by the high-interest-rate environment.

What should you do? Keep on keeping on. Macro trends are just that, macro. If you have a vision and plan for your future, don't change that because of some new trend. Trends change, and the sharpest irons are forged in the hottest fires, you got this!

Interview practice makes perfect

We're in the business of getting people hired—literally. Our secret sauce is the artificial intelligence that's trained to give you suggestions on how to make your resume better, and an AI-powered cover letter tool that writes and personalizes it for you in seconds.

So we're regularly thinking about more ways for AI to make your life easier, especially when it comes to the job search. 

The full video is better and funnier than I can summarize here, but we can't put it in an email. So if you're skimming for the good stuff, here's our ChatGPT-powered approach to interview prep:

1. Outsource the questions. Sure, you can get lists of questions from the internet and ask them to yourself...but for that "on the spot" feeling, why not let a robot throw you something you might not expect. (Bonus points if you give ChatGPT specifics that'll help it ask relevant questions to your field!)
    

2. Smile, you're on camera. Most of us don't like to watch ourselves back on video. Power through! Seeing what the interviewer would see is valuable, and will help you understand how you come across.
    

3. Sharpen your strengths (& work through your weaknesses). Knowing what you're good at, and leading with those positive ways you can succeed in the role, is a great way to grab attention. On the other hand, if you're asked about weaknesses, you can demonstrate self-awareness and talk about how you're working to grow.
    

4. Consider why the interviewer asks you each question. Sure, in this case it's just a bunch of 0s and 1s telling ChatGPT what to do next. But in a real interview, there's usually a good reason why you're getting asked a specific question. Consider what attributes, traits, or qualities they're looking to see, and find a way for your response to check that box.
    

5. Give yourself a grade. Feedback is a gift, even when it's from yourself. You know how answering the question felt, and if you followed step 2, you have the recording to review. I use an easy 5-point scale. If you're not passing with flying colors, you can always try again.

Supporting you in the job search,

Stephen Greet
CEO @ BeamJobs

At BeamJobs, we’re building tools that make applying for jobs the right way easier than ever. Have you tried the Pro plan yet? It has everything you need to land interviews, from actionable AI-powered resume suggestions to unlimited AI-generated cover letters. Try it for just $2.99 for two weeks.