If you\u2019re looking for a job in Australia right now, it\u2019s safe to say the competition is fierce. In what\u2019s been dubbed \u201cthe great squeeze,\u201d applicants are flooding into an already tight job market, leading to more challenges for both job seekers and recruiters. Here’s what\u2019s happening and why things are getting harder than ever.<\/p>\n\n\n\n
Since late 2022, job applications per role in Australia have nearly doubled, according to data from LinkedIn shared exclusively with Yahoo Finance. So, what does that mean for someone looking for work? Well, it means that the number of candidates applying for each role is at an all-time high. But despite the flood of applications, the hiring rate has actually dropped by 21% compared to pre-pandemic levels.<\/p>\n\n\n\n
This mismatch is creating a real bottleneck for both job seekers and recruiters. While there are more applications pouring in, it\u2019s harder to land a role because competition is fierce. It\u2019s also causing recruiters to rethink their strategies. Wylan Ho, founder of Kindred, a recruitment agency specializing in digital marketing roles, explains to Yahoo Finance<\/a> that while there\u2019s a high quantity of applicants, the quality hasn\u2019t kept up.<\/p>\n\n\n\n He\u2019s noticing that many applicants are sending in CVs with little to no relevant experience for the positions they\u2019re applying for. It\u2019s a little like casting a wide net but hoping to catch a prize fish \u2014 but most of the time, you end up with nothing but seaweed.<\/p>\n\n\n\n