How Long does it take to find a Job?
One of the most nagging questions in job seekers'
minds is how long it will take to find a new job. A survey of 600 job seekers
conducted at the end of last month by global outplacement firm Challenger, Gray
& Christmas gives an indication of the length of time it's taking job
seekers to find jobs in today's market.
Of
the 600 job seekers Challenger polled, 77 percent were unemployed. The rest had
jobs. Of the more than three-quarters who were unemployed, nearly half
had been out of work for more than a year:
49 percent had been out of work for
more than a year
8 percent had been out of work 10
to 12 months
5 percent had been out of work for
seven to nine months
16 percent had been out of work for
four to six months
20 percent had been out of work for
one to three months
Of
the nearly 50 percent of job seekers who've been unemployed for more than a
year, 60 percent of those long-term job seekers have been out of work for two
years and counting.
In
a press release announcing the survey results, Challenger CEO John Challenger
noted that some of the job seekers who've been out of work two-plus years are
stay-home-moms and retirees hoping to return to the workforce.
When
Challenger asked both employed and unemployed job seekers how long they thought
it would take to land a new job,
28 percent are confident they
can find something new within 3 months
37 percent expect the job
search to take four to six months
14 percent think it will take
seven to nine months
12 percent anticipate the job
search will take 10 to 12 months
10 percent believe they'll be
looking for a new job for more than a year.
"Overall,
the majority of callers – 65 percent – felt they would find a job in six months
or less. That is a pretty realistic assessment," Challenger said in
the press release. "In a healthy economy, a successful job search
might take two to three months. In a tight job market, such as the one we
are in now, it is not unusual to see even high-quality candidates take four to
six months."
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