How the Volatile Stock Market Is Hurting Job Hunters

Is the fact that the stock markets have been on a roller coaster ride affecting your job search? Most job seekers say it is, according to a new survey from Glassdoor, a jobs and career web site. Some 56% of those with jobs say volatility in the stock markets and general economic uncertainty are hurting their prospects of finding a new job. Among those without a job, 91% think the roller-coaster stock markets and economic uncertainty are making it harder to find a job.

Of those who are unemployed and looking for a new gig:

• Eighty percent say it will take longer to find a job
• Fifty-four percent expect base pay to be lower
• Forty-five percent say they are more likely to accept a job for which they are overqualified

Employee confidence remains an important leading indicator of overall consumer confidence, which has been weak with flat unemployment rates and net job creation at a halt. ... Employees and job seekers both are expressing deep concern this quarter that continued market uncertainty will impact hiring and their careers.

• Trouble finding a job.... Some 36% of those who are unemployed are not certain they will be able to find a job in the next six months. That's the highest level in 15 months.
• ...even for those that have jobs. One-third of employees say that if they lost their job, it's unlikely they would be able to find another that matched their experience and compensation levels within six months.
• Expectations for raises are flat. Thirty-six percent of employees expect a pay raise in the next year. That's unchanged from last quarter.
• Men are more optimistic than women. Forty percent of men expect a raise, compared to 32% of women. Some 38% of men expect their company's outlook to improve in the next six months, compared to only 28% of women.
• Job security is the one bright spot. The percentage of employees who said they were worried about being laid off dropped to 16%, which is down six points from last quarter and the lowest number since the second quarter of 2010.

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