Business Experts Expect A Big Boom In The Job Market In September
Business experts have announced that September could produce a boom in the job market. In a recent study by Guy Berger, principal economist and head of macroeconomic trends at LinkedIn, the market is preparing for a “September surge,” defined by an exponential hiring increase following Labor Day.
The beginning of the year produced an alarming number of layoffs from studied companies, but a reprieve could likely be coming. Berger reported that the overall job market could stabilize following the unpredictable trends earlier this year.
Berger said, “Last year’s uptick stood out amid a disappointing trend, while this year it will be scrutinized for green shoots of hiring recovery.”
He cited some of LinkedIn’s data on why September’s hiring rates could be unnaturally high. Reportedly, “companies also add new team members in late summer and fall due to increased demand for seasonal employees.”
Payroll and HR software data have consistently shown a spike in hiring in “professional services sectors” in September and even October, just before the rates plummeted at the year’s end.
The rise and fall of the job market is described by Janet Mertens, vice president of research at HR consultancy The Josh Bersin Company, as cyclic.
“There are times during the year based on calendar years, fiscal years for companies, seasonal needs—especially in consumer products and retail—that you just see more hiring,” she said.
Before the surge, Mertens gave a list of essential tips on getting ready to be hired by Fast Company. She recommends updating your résumé and LinkedIn profiles to include any recent additions you may have to “always be job-ready.” In the meantime, as you’re waiting for applications and decisions, she told the outlet that you should use the time to keep building on your lacking or preexisting skills. Finally, she recommends contacting any networks you may already have and setting up job alerts attuned to opportunities on websites you’re looking for.
Another expert said, “Once you get those alerts, don’t underestimate the importance of being the first to apply.”