Final answer:
Most jobs are in the hidden job market, a term used to describe unadvertised employment opportunities filled through networking, internal promotions, and referrals. This market varies by industry and during economic changes, as evidenced during the Great Recession with a shift to lower-wage jobs. Job seekers must utilize networking and creative strategies to access these hidden opportunities.
Step-by-step explanation:
It is estimated that only about 15% percent of jobs can be found through ads. Most jobs are in the hidden job market. The hidden job market refers to employment opportunities that are not advertised publicly. These positions are usually filled through internal promotions, referrals, and networking rather than through advertising. Industries vary in their reliance on the hidden job market. For example, IT companies might post entry-level jobs publicly while more senior roles often remain hidden.
The percentage of hidden jobs can also reflect economic shifts. The National Employment Law Project acknowledges that during the Great Recession, a large proportion of medium-wage occupations were lost, which were then replaced with lower-wage positions during the recovery period, predominantly in sectors like service, retail, and food industries. Data illustrating these industry trends can be found in various reports and figures from labor statistics.
To successfully navigate the hidden job market, job seekers need to engage in networking, which may include using social media, conducting informational interviews, and attending professional events. The right strategies can make accessing these unadvertised jobs less competitive and more fruitful compared to the conventional job search methods depicted in some employment diagrams.