'Jobless Recovery' and Your Job Search

Last Updated Sep 28, 2010 12:44 PM EDT

Over the past week, we've heard a lot about a "jobless recovery" in the nation's economy: While productivity in output technically say the U.S. has exited the Great Recession, the millions still jobless tell as different story. "Is This What a Recovery Feels Like?" asks the Roosevelt Institute's Mike Konczal in a column for the New York Times.
The fact is, numerical abstractions can't hide the the real career woes job seekers still face in this country. And while at TheLadders, we've seen bright spots in hiring for growth in certain regions and industries, the job market remains a very, very competitive place to be.

That means you need to stay open to industry moves and even to accepting a little less compensation to cinch that next job. In our new book "You're Better Than Your Job Search," Marc Cenedella and I discuss this option.

Here are some words of wisdom from the book from Colleen O'Neill, a principal at Mercer: "When we're talking to recruiting managers, they're very open, and they know that even that highly qualified candidate might have been making much more than they're offering today.

"And then certainly, I think people have a different mindset: It's not necessarily going to hurt their long-term prospects that they have something else to add in their portfolio, that there was some period of time that they worked in a different industry, had a different job -- we're kind of in a different place than we were the last recession," she says. "People know that the're going to have many jobs over the course of their working life. From an employers' standpoint, I think people are very open to it."

  • Matthew TheLadders

    Matthew Rothenberg is editor-in-chief for TheLadders, the world's leading online service catering exclusively to the $100K+ job market. In addition to traditional job search services, TheLadders.com also provides a host of specialized career development resources. Previously he worked at Ziff Davis Media, ZDNet, CNET, and Hachette Filipacchi.