New Yorker's Job Hunt Story Reflects 'White-Collar Recession'

A New York woman took to the streets to hand out her resume to random companies and strangers. She holds two degrees and knows three languages, but this is the reality of the job market today, applicants said.

Finding a job is often difficult, especially for new workers, who often report sending out applications to hundreds or even thousands of companies before hearing back.

But in a new TikTok video, one job seeker revealed the dire reality of the situation in today's job market. It's what some experts are calling part of the "white collar recession."

"This is the most humbled I've ever felt in my life," said TikToker @LohannySant (Lohanny Santos) said, explaining that she would also be going in person to companies and asking if they were hiring.

"It's honestly a little embarrassing because I'm literally applying for minimum wage jobs, and some of them are being like, 'We're not hiring,'" Santos said.

The content creator said this is far from what she expected when she entered the job market.

As a college graduate with degrees in communications and acting and a proficiency in English, Spanish and Portuguese, Santos would likely be a compelling job candidate in the job market of yesteryear. Now she struggles to even get a call back.

"I just want to be a TikToker if I'm being so for real with you," she said in her video with tears in her eyes. "But I can't be delusional anymore. I literally need to make money, so I'm just going to keep trying."

Job market experts said this TikToker's experience is emblematic of the younger generation's fight to make it in a hyper competitive hiring world.

Alex Beene, financial literacy instructor for the state of Tennessee, said Santos' plight also reflects an ongoing "white-collar recession."

"Companies that had an abundance of jobs for the well-educated and deeply skilled before and during the pandemic are starting to scale back and cutting many of those jobs in the process," Beene told Newsweek.

"The result for some seeking employment will be the feeling that despite a labor market that still has many openings, it may feel like positions that fit their background and income expectations are out of reach or non-existent."

Even those who already have some experience report difficulties finding a new role or even getting an interview.

"The woman's approach to job hunting, despite her impressive qualifications, reflects the intense competition in today's job market," finance expert Markus Kraus, the owner of Trading Verstehen, told Newsweek. "It's not just about what you know anymore. It's about how you stand out."

It's becoming increasingly common for job seekers to feel forced to take unorthodox measures like this to find a job, reflecting that academic achievements often don't translate into what the job market is actually demanding.

"It's a tough market out there, and her actions underscore a determination to break through the traditional job-search barriers," Kraus said.

In today's market, which often relies on artificial intelligence to weed out candidates, job seekers will need to look at what's desired in the industry and tailor their resume format and applications to specifically meet those demands, Beene said. Still, there's no guarantee they will make it through to the finish line.

"Including the right words and goals are pivotal, especially with AI playing a larger part in which resumes are actually reviewed and which are not," Beene said.

Many employers receive hundreds of applications for each opening, meaning relevant work experience and connections will be essential. Candidates can no longer depend on just a strong educational background and skill set, said Andrew Lokenauth, the founder of TheFinanceNewsletter.com.

"Relevant work experience and connections are important for landing interviews, but she may be lacking in these areas," Lokenauth said about Santos.

During the COVID-19 pandemic, many industries faced an economic downturn and had to cut jobs. Even as the roles return, some industries, like hospitality, travel and office administration, are recovering far more slowly.

The impact of such a competitive job market is not to be underestimated. A recent Bankrate survey found that only 44 percent of Americans would be able to pay an emergency expense of $1,000 or more from their savings.

"While jobs are returning, many are low-paying roles and people are having difficulty finding careers that match their education," Lokenauth said. "The rise of technology and automation has eliminated many mid-skill jobs that someone with her education and experience could previously obtain."

Many companies are increasingly outsourcing or relocating jobs overseas because labor is generally cheaper outside of the United States.

"The nature of work is changing rapidly due to technology while our education and training systems struggle to keep up," Lokenauth said.

Additionally, companies have become known to leave job listings up as "evergreen postings" just in case a top candidate applies.

"That position isn't really open," job board RedBalloon CEO Andrew Crapuchettes told Newsweek. "These 'ghost-postings' can cause frustration amongst jobseekers who, like this woman, are very capable and talented, but they may not have found the right fit yet."

Joe Camberato, the CEO of NationalBusinessCapital.com, echoed this sentiment and said today's job market is still going through a period of re-stabilization.

"It's not the wild hiring spree we once saw," Camberato told Newsweek.

As a result, the strategies young job candidates will need to take are invariably different, he said.

"When young candidates ask me what they should be focusing on, I tell them to hone in on the value they bring to the table for the specific organization they're eyeing," Camberato said. "Forget the degree and languages for a moment. Understand the needs of the position you want to be hired for."

While Camberato said many people fixate on degrees and other things companies don't actually obsess over, they should be looking at their specific skills and experiences.

"Now, it's all about the individual and the quirky skill set that person brings to the table, something that's going to shake things up and benefit the organization," Camberato said. "It's a new ball game, and companies are craving the out-of-the-box thinkers who can bring something unique to the mix."