Searching for Job? Here are the 3 Job market facts you must know about

The job market has changed and Job hunting has taken a new dimension over the turn of the millennium. It is no longer easy to get jobs as it was some years back.


The job market has become very dynamic to cater for all sorts of possibilities and changes.

This dynamism has seen to the fact that lesser jobs are made available because some people are now getting employed right at the source.

To be honest, while others are screaming that there are no job, others are getting employed steady, even turning down job offers and some are even changing jobs like clothes.

What changed? You may ask. The job market changed, this market is now catering to those who are smarter that the rest, the ones who do not wait for job advertisement before submitting their killer CV | Resume and well formatted cover letters.

The job market is now divided into:

Searching for Job? Here are the 3 Job markets facts you must know about

Searching for Job? Here are the 3 Job markets facts you must know about

PUBLIC OR OPEN JOB MARKET

This is the job market where job vacancies and openings are publicly declared to allow interested individuals send in their applications.

This are jobs that are openly proclaimed and you get to hear about them from the through adverts in the newspaper, trade magazine, job magazine, and other publications.

They are also made known on different job websites and listing sites.

Open job market can also be seen through employment agencies, consulting firms and executive search firms.

The percentage of jobs here is just less than 31% and if you factor in the ratio of those that will applying and those that will get recruited, you will then understand why people say that there are no jobs in Nigeria.


HIDDEN OR CLOSED JOB MARKET

This represents the job market that are not publicly declared or announced, sometimes this jobs are yet to be identified by the prospective employer.

The only way to get job in the closed job market is by digging or having a long list of network who know where the jobs are.

This is a key market because this is where majority of the jobs are found, some are even filled up by the company’s staff and some by employers network.

But majority of the recruits here, comes from people like you and I, who appear at “the right place and the right time, because we already know how the current flows.

Another way is by compiling a list of all companies’ in your field and specialization, select those you are interested in, and contact them for an interview or state your interest pending any vacancy by sending a well formatted CV and cover letter.

JOB HUNTING STATISTICS YOU MUST KNOW

(69% hidden and closed job market) of jobs are being secured through contacts and networking with friends, families and mentors. This is because they get first-hand information in the employment link.

(31% public or open job market) of jobs are secured through browsing the internet and researching the respective company websites, through advertisement in the newspapers and dailies, through recruitment agencies and firms and direct contact with the employers.

The amazing truth is that the highest percentage of those jobs are gotten via the hidden or closed job market and only a few people take advantage of it, now that is a plus to you to take action now!


While we cannot ignore job adverts and the public or open job market when seeking employment, it is obvious that our efforts should also be focused on the hidden and closed job market.


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