Would You Hire you?
Here's the takeaway up front: in this job market, you have to prove yourself more than ever.
About this episode
Friday's jobs report was the last one before the midterm elections, and it was bad. Bad because it confirmed a cold labor market.
Employers added 29,000 jobs in September when economists expected 84,000, and the two months before that were revised down by a combined 60,000.
No signs of large layoffs, but no signs of anyone getting hired either, and job growth was dismal.
This week, Dr. Jeni Al-Bahrani joins me to talk about what that looks like on the ground. Jeni teaches the senior capstone at Miami University. In fall 2024, about 80% of her seniors had a job lined up before graduation. This fall, it's about 30%. You are probably seeing the same at your university.
Our economy is changing, and so are your students
Both Jeni and I have noticed a change in what students demand. We discuss the importance of midsemester evaluations. Students are more likely to say they want accountability and want to be challenged. But when you hold them to higher standards, they push back. Jeni calls them "Ouchie" moments.
If you have noticed your students or new hires changing, this episode is for you.
We also talk about three hours at the Apple Store, a lesson in switching costs, and a server who told us the pretzels don't come with butter, not "in this economy."
Our guest
Dr. Jeni Al-Bahrani teaches the senior capstone at Miami University, where she mentors students moving from internships into full-time roles and coaches them for pitch competitions. Connect with Jeni on LinkedIn
What we cover
- 00:14The takeaway up front: in a cold market, you have to prove yourself
- 03:15Three hours at the Apple Store: opportunity cost, impulse buying, leasing, switching costs and pretzels "not in this economy"
- 08:00Midsemester evaluations: the questions we each ask, and why handwritten beats a survey
- 12:00"Ouchies": students want to be challenged, then push back when they are
- 17:00Everyone wants to be heard, no one's listening, and the "chill guy" problem
- 19:30Jobs Report Friday: 29,000 jobs against 84,000 expected, and why August was a blip
- 25:00Would you hire you? How Jeni is preparing her seniors
Three takeaways
- A cold labor market isn't firing people. It just stops taking bets on them. So the burden of proof is on you, whether you're a graduating senior or mid-career.
- The number matters less than the expectation. 29,000 jobs against an expected 84,000 is a miss. So is a student who expected an A and got a C.
- Students say they want to be pushed, and then they push back. Ask them in the middle of the semester, on paper, and you'll learn what they're really asking for.
Want the backstory on why August's jobs number looked too good to be true? Watch my breakdown of the August jobs report.