Benchmark Search Employment Insights – June 2024

As we ease into summer, how’s your career outlook? 

Whether you’re actively looking for a new role or just browsing at the moment, here’s few things I’d like to share with you. On my mind right now — the plague of ghost jobs being advertised, how you can actually use Gen AI to help you find a job and no, you are not crazy — it actually is getting harder to find one.

May Jobs Report Highlights

May Jobs Report: U.S. Economy Surges with Significant Job Growth!  The latest jobs report reveals a resilient U.S. economy, defying expectations with substantial growth!

  • Robust Job Growth: The U.S. economy added a robust 272K jobs in May, far exceeding economists’ predictions of 185,000 jobs.
  • College Grads See Improvement: Unemployment among college graduates dropped to 2.1%, a positive sign for new job seekers.
  • Slight Increase in Unemployment: The unemployment rate rose slightly to 4.0%, up from 3.9% in April.
  • Sector Spotlight: Hiring surges were led by Healthcare (+68,000), Leisure & Hospitality (+42,000), and Professional Services (+32,000).

The labor market remains vibrant, presenting ample opportunities for both job seekers and employers. For job seekers, showcase your unique skills and qualifications to stand out in this competitive market. For businesses, this is the time to attract top talent by offering competitive compensation and highlighting your company’s unique value proposition.

Hot Jobs

Senior Accounting Manager, Financial Reporting (Consumer Services), Hybrid, $160k

Tax Manager, Professional Services, Hybrid $150k

Assistant Controller, Auto Dealer Group, In office, $140k

Accounting Manager, Family Office, hybrid $120k

Cost Accounting Manager, Construction, Hybrid $110k

Senior SOX Auditor, Fortune 500, Hybrid, $100k

Tax Senior, Professional Services, Hybrid $100k

Inventory Accountant, Cloud Services, Hybrid, $95k

Tax Senior, Wealth Management, Remote $90k

Senior Accountant, Private School, in-office, $90k

Senior Accountant, Manufacturing, in-office, $90k

Associate Financial Planner, Wealth Management, Hybrid $100k

How to Avoid Ghost Jobs

It’s the age-old complaint of job seekers: an opening that sounds amazing, but turns out to not actually exist. Here are some of the ways to spot a “ghost job” posting:

  • The posting has been active for a while (more than 30 days)
  • There’s nothing on the company’s website or social media page about the open job
  • The compensation and perks seem really inflated for the role

In the province of Ontario, Canada, legislators are trying to push through a law that will force companies to disclose, in job ads, whether the job is for now or sometime in the nebulous future — in other words, whether the job is real. But if you don’t live in Ontario, this doesn’t help you much.

What will help? Working with a recruiter like those of us at Benchmark Search. We know what jobs actually exist, and can connect you with the right people.

How to Use Gen AI in Your Job Search

Gen AI gets so much press, but for people just trying to keep up in their day to day, finding the time to learn a new technology is farfetched. And for a lot of people, there is a lack of understanding of WHY they should bother in the first place.

In the talent market, there are some obvious uses for AI: 

  • Creating a first draft of a cover letter
  • Customizing an existing resume to use certain keywords

Note that AI can’t necessarily do these things FOR you, but it can work with you to speed up a process or get you over a moment of writer’s block.

You’re Not Crazy. It’s Getting Harder to Find a New Job

Job data says there are plenty of jobs out there, but I talked to job seekers every day who come to me feeling utterly frustrated with trying to land a new role. Why the discrepancy?

There are certainly plenty of jobs listed as open, but for those aggressively pursuing new employment, it can be frustrating how few of those jobs actually seem to exist when explored. Ghost jobs are just one problem. There’s also long drawn out interview processes and inexplicable gaps in communication. It can be incredibly frustrating to be a talented, experienced professional.

Working with a recruiter is one way to streamline the experience of looking for a new job. I can quickly hyper-target to match you up with open roles and hiring managers.

Recommended Reading

Employee Spotlight

We’re thrilled to shine the spotlight on Matt Spainhour, a former financial services professional, transitioned to recruiting in 2018.

His experience in relationship-building led to top rankings in client billings at a global firm. Now at Benchmark Search, he leverages his skills to match top accounting and finance talent with clients.

A Texas native, family man, and sports enthusiast, Matt balances professional success with community involvement and family values.