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Full Video Transcript Below:
HUNG LEE: People are being overloaded. Recruiters are being overloaded. We’re hearing about jobs sort of being published in 24 hours and getting 100, even 1,000 plus applicants in that time frame. And if you still have a kind of a human being on the end of that application flow, there’s just no way it’s possible to review those candidates and get back to those candidates. So what we’re seeing in the inside of the industry is that companies are rushing really to put in automation software in order to handle this applicant flow or even deciding that advertising jobs may not be the primary way in which they sort of try and find candidates because the overwhelming the number of applicants basically is overwhelming a system that wasn’t designed for this type of volume.
CONWAY GITTENS: So given that imbalance or where these recruiters are being rushed in terms of the number of job applicants, what does that actually tell you about the state of the job market?
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HUNG LEE: Well, I mean, it doesn’t tell us great things, I’m afraid to say. It basically means there’s a lot of people are out of work and therefore looking for work and unemployed job applicant, by the way, is typically a very active job applicant. If you’re out of work, basically you’re spending most of your time applying for jobs. That is in addition to people who are in work and applying for jobs. So it also tells us there’s this job insecurity as well. So, so yeah, there’s a lot of economic stress out there. I think that’s adding to the sense of, of people, you know, feeling as if they’re not being justly treated. And I think the phenomena of the concept of the ghost job kind of has emerged to try and explain, you know, why it’s explain some of these pressures that people are feeling.
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