Generational Unemployment

Hello again my friend,

Do you remember what it was like to be on the job search? Whether you went to school or not, there’s a moment when we have to “get serious,” which usually means hunting for that first, real, full-time job.

How did you feel?

Excited? Happy? Scared? Anxious? I hated every minute of it. Sending my resume just landed me hundreds of rejections. If I did get an interview, I had to sell myself, which I sucked at back then.

But, I at least had hope. It feels like that’s not the case for the new generation.

A declining economy and some recent studies suggest things are getting much harder.

That first serious job seems out of reach, especially for Gen Z. And that’s not even the worst part.

I’ve previously covered the age-old mantra of “go to school, work hard, and a job will be waiting for you,” is more or less dead for Gen Z, and how the closest thing they have to a “sure thing,” is actually creating content.

While that’s still true, not everyone’s cut out for it. Most of the feedback I received from that post was very critical.

So, if you or someone you know is looking for that first big job (or second, or third), this article is for you.

Let’s get into it.

I’ve written before on what it’s like to completely restart a career after 30 years of age. The heavy weight of uncertainty combined with society’s expectations and social media’s pressure never helped. Still, it’s possible.

But it’s not easy. In my initial search, I realized there’s a lot going on that makes getting a job much more difficult.

Believe it or not, companies often post jobs that do not exist. Or, they post jobs that have already been filled. So when people look out into the world, it can feel like there are a lot of real opportunities out there.

So people apply, but don’t hear back. They’ll follow up to find out “the position has already been filled,” or some other corporate lingo.

Why do companies do this?

It’s gotten to the point where the province of Ontario is passing laws and regulations to completely remove these ghost jobs altogether. You read that right. There are so many fake jobs out there that governments are cracking down on companies who post them.

A study from Greenhouse reported that up to 22% of posted jobs could easily be Ghost Jobs. There’s no way to fully confirm since companies won’t admit. But the study was a good attempt at figuring out the number.

For every few people who ask me about how to get a job, a business owner asks me about using AI to get out of hiring people.

Even earlier this week in doing research for this post, I looked at job postings for corporate roles, and there just were not as many entry-level roles as one might expect. They’ve all dried up.

Naturally, if there are fewer entry level roles, people looking for that first serious corporate job will have a harder time finding employment (same with people restarting their career).

With the decline in entry level corporate work, it begs the question, where are we seeing more opportunities?

You can find a full list here. There are really 3 areas that are generally quite safe:

The opportunities are growing, but it’s also difficult for someone sold a lie to turn around and completely restart in a new direction.

If you spent 4 years studying marketing and are on the job hunt, it’s hard to accept how there are fewer opportunities in that industry and move on to something else.

So what’s the move?

Well, I covered being a content creator. But realistically it’s not for everyone.

If you know me, you know I talk about starting a business as a great option. But again, difficult, and in many cases recent grads or young people looking for a first job won’t have any financial backing or savings to work with.

Meanwhile, there’s this massive wave of new, growing industries (the ones I mentioned above). then there are the fastest growing opportunities, but many of them are no longer corporate jobs, and if they are, they’re in tech.

Maybe it’s time for that marketing grad to consider doing marketing for companies part-time or as a contractor, pursue a certificate in a growing industry like cybersecurity, and make that big move?

If it were me about to graduate, I’d focus on if I were looking for a new job, or restarting my career (again).

I’m biased because this is literally what I did to get a job at the company I work for now. So, I know it works. But this takes a lot of effort, strong writing skills, and some knowledge. But it’s never impossible.

In fact, several members of our team have all done this. Jay Yang, an intern who worked with us a couple years ago recently published a book titled “You Can Just Do Things” and the book includes the entire story working at beehiiv.

I’ve come to firmly believing that recruiting is one of the best industries in the world. Especially when there are big changes in economies and job markets (like we have now).

For example, companies are looking for AI talent, but have no idea how to hire these people (or where to find them). This is the beauty of new, growing markets. The talent is the hardest part, and recruiters fill that gap.

At the beginning of this post I mentioned the “True Rate of Unemployment” and how it’s closer to 24%. That’s because one job is no longer enough to earn enough to properly make ends meet. It can be anything from driving Uber, to helping business with their content (still very viable), to becoming an influencer, or something else.

Regardless, without some kind of second source of income (even if it’s part-time), it’s just so tough. Working 80+ hour weeks for the company to get that promotion used to be a viable strategy because the job paid you enough to eat. Now, it’s not as likely, so a second source of income is required.

And having gig work as a real option also helps a lot when on the job hunt, but also when you get the job. You’re not as desperate and some extra support

Even if you start a small business that makes very little money, the advantages are extremely worth it.

Markets, industries, and jobs themselves always change. It’s been happening for thousands of years, and it’ll continue happening into the future. It’s just faster now because of the new tech and sudden shifts in the world’s economies.

Now, if you’re taking the time to read this, you’re clearly not looking to make just enough. And that’s great, I’m the same way. So I hope this was at least a little helpful. If not the tips at the end, then at least the context at the top (did you know Ghost Jobs are a real thing?).

If you want more details in future posts, just let me know. Nobody wants to be boring, but if you’re into, I can always write it out.

Thanks again for reading!

And a big thank you to this week’s sponsor, Roku.