Do you notice how the truth of things tends to slowly reveal itself, often years after the fact? Federal Reserve chair Jerome Powell recently admitted that the Bureau of Labor Statistics is overstating payrolls. This revelation comes as no surprise, as the gap between reported statistics and actual job numbers has never been wider.
Journalist Autumn Spredemann’s groundbreaking report further exposes the deception in the job market. According to a survey by Clarify Capital, half of online job postings are fake, with no intention of hiring anyone. Many job seekers have experienced this firsthand, applying for positions only to receive no response or a rejection weeks later. The job postings remain unfilled, giving off a sense of falseness.
Spredemann’s survey sheds light on a practice known as creating “ghost postings” to keep a pool of potential candidates for future openings, or to pressure existing employees. These fake job postings also serve to make a company appear larger and more active than it actually is, potentially attracting investors.
The issue of fake job postings is not limited to the supply side of the labor market. Many applicants submit applications without any genuine interest in the job, simply to fulfill unemployment benefit requirements. This widespread dishonesty on both sides of the labor market creates a distorted view of employment data.
The divergence between household and establishment surveys conducted by the BLS further illustrates the discrepancy in reported job numbers. While the establishment survey shows job growth, the household survey reveals a decrease in employment. The reality on the ground is far from the rosy picture painted by government agencies and media reports.
Despite the loss of trust in official data sources, one might still expect private job postings to be reliable. However, the prevalence of fake job listings calls even this assumption into question. The lack of transparency in the job market highlights the need for more accurate and trustworthy information to guide economic decisions. Unfortunately, the answer is that we cannot trust the digital world to help us find jobs. This is especially bad news for job seekers, as the number of people looking for work continues to increase. The best way to gain trust as a job seeker is to speak directly to managers and owners in person. It may seem old-fashioned, but showing up with a resume and speaking to the right person face-to-face is still the most effective method. Another option is to pick up the phone and communicate clearly in English. This can set you apart from other job seekers. In the end, it may be better to take matters into your own hands rather than rely on the digital world or the government to fix the job market. The opinions expressed in this article are solely those of the author and may not reflect the views of The Epoch Times.
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