Factors That Will Affect Your Career This Year

The Global Economy
Challenger doesn't believe the nation is headed for a recession. "The housing market is slowing down the U.S. economy, but the positive affects of the global growth engine will offset what is happening domestically."
He also believes that the weak U.S. dollar isn't necessarily bad for business. In fact, the opposite may be true. "It means that U.S. businesses can compete around the world, especially vis-a-vis Europe, because our goods will be cheaper due to the weaker dollar. When businesses in other countries repatriate the dollar across the seas, they'll get even more for their money."
He admits, "The falling dollar is a mixed bag for the economy, but it's good for global business hiring and job growth."

Factors That Will Affect Your Career This Year

Generation Y
Born between 1977 and 1995, Generation Y is 79.8 million strong. In 2008, millions of these echo boomers, as they're also called, will be looking for work. Challenger predicts that competition for jobs for new graduates will be stiffer than in recent years.
He notes, "Generation Y workers are flooding into the job market, but they might not be flooded with job offers."
He says the class of 2008 shouldn't expect the same robust job market their counterparts enjoyed in previous years. "Since the summer of 2003, the market was very strong for graduates, but job creation has slowed in the second half of 2007. The economy is slowing down, and business owners may be more cautious about adding new staff."

Factors That Will Affect Your Career

The High Price of Fuel
The cost of getting to and from work keeps getting higher as fuel costs skyrocket. Single car commuters aren't the only ones affected, as major metropolitan areas will see public transportation costs increase.
Challenger says, "The cost of getting to a job that's far from home has jumped considerably. People might be spending double what they did just three or four years ago."
The trend is alarming. "A lack of mobility on such a vital part of the workforce is a real drag on the economy, but no one seems to be able to resolve the issue."

Apply without providing the salary information you requested:

Why it Matters: Many candidates are positive that once you see their credentials, and meet them, salary won’t be an issue. Their credentials will knock your socks off. They’re wrong. You have a budget, a job description, and the expectation that you’re not going to waste your time on a candidate who is too expensive. Minimally, this candidate causes you to make a screening phone call. Why spend time on candidates who don’t offer valid applications that follow your directions?

Mistakes Job Seekers Make

Send resumes or cover letters with typos:

Why it Matters: Typos brand the job searcher as a careless person who didn’t take the time to proof read her resume and cover letter. You can often judge the quality of the candidate’s future work by the quality of the documents that introduce the job searcher. You certainly obtain a sample of the written work you can expect. Many managers use typos as a screen to eliminate candidates from contention – and, wisely so.