As recent data shows, the labor market is cooling. That's why it may not be a surprise to hear finding employment has become increasingly challenging. Career and Leadership Coach Phoebe Gavin joins Wealth! to discuss the current state of job hunting.

Gavin notes that in the present environment, job searches are more prolonged, with limited room for compensation negotiation. The overall process has become significantly more time-consuming, "resulting in pessimism for job seekers." She emphasizes that this trend is particularly noticeable in white-collar professions.

To navigate these challenges, Gavin recommends leveraging your professional network through industry associations, expanding your connections, enhancing your skill set, and actively working to build your reputation. She advises, "That sort of thing can be a really great opportunity for you to build new relationships really easy and have a lot of baseline foundation to connect upon."

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Angel Smith