The TripleTen Job Market Overview - Spring 2024

Hello, TripleTen community! Welcome back to another installment of our Job Market Overview series. March is almost over, and April is fast approaching. We’re here to discuss job trends from February and how to avoid scams that may come up throughout your job search journey. April Fools doesn’t have to derail your career search. In addition, we’ll show you how to attract good attention to get you one step closer to your dream job.

The job market in February 2024

Though the outlook for the economy is cooling, the job market continues to exceed expectations.

This number exceeded projections, keeping with positive job growth momentum over the last few months. Not everything is positive, though, as the unemployment rate also rose in February.

Labor force participation, another key metric for job market health, is showing positive signs. The labor force participation for the prime working demographic, those aged 25-54, rose to 83.5%. This matches last year's top mark, and it’s the highest that it’s been since the early 2000s.

While prime workers saw a high participation rate, the rate for those 55 and up remains low. This group’s rate hasn’t recovered since the pandemic and remains lower than pre-2020 rates. There are many possible causes for this. However, some of the most likely causes include early retirement. With soaring housing and stock markets, those over 55 may be cashing out early to enjoy retirement. 

How to stay safe from career scams

Remote jobs have been in high demand since the pandemic. Who wouldn’t want to avoid rush hour traffic and have more flexibility in their work? Unfortunately, scammers have noticed this trend and are trying to profit from job seekers' desires.

This year has seen a continued increase in fake jobs and company scams. The people are real, but their companies and job postings aren’t. This puts eager career seekers at risk, as dream jobs may cost more than their time. How do you protect yourself from job scammers? 

There are simple steps you can follow to spot a scam. The best framework for approaching potential scams is to stop, look, and listen.

This framework is great for approaching each step of the interview process. Here’s how to use it.

Start by applying this framework to email outreach. You can tell a lot from an email. Is the company real? Does the email address match the company and link to a real domain? Are there grammatical errors, or is the email poorly written? Emails are often an entry point for scammers and can contain many inconsistencies.

Next, apply the framework to interviews. Tech interviews can vary by company, but they generally follow standard patterns. A red flag for a potential scam is an interview that deviates wildly from the standard process. Another sign for concern is if recruiters ask for personal information before the interview. Never provide your driver's license, Social Security Number, or passport to have an interview. Finally, any exchange of money is a no-go.

If it seems off, it probably is off.

How to attract positive career attention

The best way to attract the career attention you want is to interact with the people you are interested in or aspire to work with. You can start this by following, interacting with, and connecting with companies, organizations, and individuals who share your values and goals.

• ‍Leave a comment on their posts or even an appropriate reaction. Do this to show that you’re interested and care about what they are working on or talking about.‍
• Be consistent with these interactions. You don’t have to be glued to your LinkedIn feed. However, you can create a daily or weekly schedule to explore and interact with like-minded companies and individuals.‍
• The best thing you can do is provide value. Share your insights, expertise, and relevant experiences to help others. By doing this, you can create and build your personal brand and establish credibility as a professional.

Next steps for landing your dream job

If you want more in-depth information on current job market trends, check out the full TripleTen job market video below.

For additional tips on how to stay safe during your job search and more ways to spot scammers, check out the article mentioned in the job market video.

Even when you have a job, your career improvement journey never stops. Stay informed on the current job market as well as on ways to improve as a professional and a networker by subscribing to TripleTen’s job market newsletter.