Coupled with a cooling labor market, inflation, and declining savings, AI is helping people apply for more jobs.
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Job seekers are applying for more jobs than they were a few years ago. Some say we should be thankful for generative AI tools.
SSix months ago, Anshita Verma was submitting several job applications a day. Currently, this 26-year-old data scientist sends out 10 to 15 pieces of data every day, and she says this is all thanks to artificial intelligence tools.
“What used to take 30 minutes to fill out an application may now take 10 minutes,” says Verma. Plug-in AI browser that auto-fills fields in job listings She says her tools have significantly reduced the time she spends applying, allowing her to apply to more jobs faster.
Some companies use generative AI programs like ChatGPT to create on-demand resumes and cover letters that match job skills and qualifications. Some companies are using job search automation tools like LazyApply and SimplifyJobs to apply for jobs in bulk. AI tools like Pajama Jobs and Talentprise, which help candidates identify jobs that match their skill sets, may also be driving up application rates.
Experts say this tool, coupled with a cooling labor market and inflation, Employers are being flooded with more applications. According to recent data from LinkedIn, workers in the US and UK are applying for about 15% more positions than they were a year ago.
Karyn Kimbrough, LinkedIn's chief economist, said that AI has allowed them to apply for more jobs and that “job seekers are more proactive” than in years past. “There’s a lot of energy around AI right now, and having a tool that helps you craft the perfect message with personalized suggestions will give you a little more confidence when applying.”
It can also encourage job seekers to apply more broadly. “Not only are they applying for more jobs, they're actually applying for jobs they wouldn't normally apply for,” says founder and CEO of recruitment agency Giledan 360. CEO Michelle Volberg says: steroid. This prevents technology candidates from applying for jobs in finance or healthcare when there is some overlap, or making their resumes look related when in fact they are not. I can. ”
Experts say AI is helping to increase the number of applications, inundating hiring managers and forcing companies to sort through large volumes of resumes. “There is a huge need in recruiting to use AI to sort, filter, search and source resumes,” said Josh Bersin, an HR industry analyst. He recently posted a job opening for an editor and said he received 300 responses. His first hour “looks like 90% was written by his ChatGPT.” Bursin says:[Recruiters’] The ease of application has only increased the workload. ”
AI may also pose a challenge for job seekers, as AI-assisted applications raise the bar for attention and increase the likelihood of being overlooked in the deluge. “People aren't finding work as quickly as they would like, so they may feel the need to cover more bases and apply for more roles,” says LinkedIn's Kimbrough.
Kimbrough and others argue that AI is not the only reason job hunting and competition are becoming more intense. Add in slower hiring by companies, layoffs in many sectors, and an uncertain economy, and the job market becomes even more competitive.
John Stross, co-founder and president of recruiting software company Greenhouse, said the number of applications per job opening has more than doubled since June 2022. “The chances of getting a job are slim,” he says. While AI is helping to increase the number of job seekers, he says economic conditions are also having an impact.
James Neave, head of data science at recruitment platform Adzuna, agrees: “AI is likely to help job seekers reduce the time it takes to apply for a job, potentially allowing them to spend more time and energy applying. , AI is not the root cause behind more job applications. It comes down to labor market dynamics.”
Job growth in November was slightly stronger than economists expected, as the U.S. added 199,000 jobs, according to the latest Bureau of Labor Statistics employment report. This is up from 150,000 jobs added in October, the lowest number of additional jobs since January 2021. There were also more than 600,000 layoffs in the United States this year, an increase of 198% from last year. Staffing firm Challenger, Gray & Christmas said the first nine months of this year were the worst streak of layoffs since 2020 and the second-worst streak since 2009.
Many companies use applicant tracking systems to screen candidate applications for relevant skills and filter out applications that don't match specific keywords. But some say her ATS won't keep pace with the AI tools that job seekers are using to increase their chances of being recognized, potentially creating more work for recruiters and hiring managers.
When employees use AI tools to include job listing keywords on their resumes, “a lot more resumes can get through than they should,” says career coach Jessica Menkunas. Masu. “It might work a little against your intentions.” [of using an ATS] It greatly increases the efficiency of recruiters. ”
Some posts on LinkedIn boast over 1,000 applications. “Some companies can't even handle all the applications. It's just not possible,” he says Volberg.
Some workers, like Ronnie Gerena, are still looking for work after being laid off earlier this year. “It's insane,” said Jelena, 25, who has been looking for business management opportunities in New York since the summer. “He already has 500 applicants for every job posted a day,” he says, adding that AI tools now allow him to craft cover letters more quickly tailored to specific jobs. .
While he doesn't think AI is the only reason the job market is so competitive, he says the increase in applications has led people to seek non-tech jobs and rely more on networking and referrals. “AI is certainly not helping reduce volume,” Jelena said.
