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Nobel Winning Economics Study Says UI Benefits Encourage People to Remain Jobless for Longer Time

A focus of the Nobel Prize in Economic Sciences, 2010, winning paper is on unemployment, quite expectedly. The Nobel laureates, whose groundbreaking study Markets with Search Costs, won the prize developed and applied their theory to examine the labor market and identify the elusive factors determining unemployment. The model, now accepted in the world of economics as the DMP (Diamond-Mortensen-Pissarides) model goes deep into search behavior of unemployed and jobless vis-a-vis the recruiting behavior of companies and wage formation in the market. One of the most remarkable findings of the study was the nature of the relationship between UI benefits and unemployment.

Do Your Job Search on Heavy Ground

For the past several years I have been interacting with people who are looking for jobs on a daily basis. I have also been working with recruiters, who find people jobs. After many years of working with various people, it often occurs to me that those who get the best jobs do their job search in an unconventional way: The best thing is to avoid doing what everyone else is doing when it comes to looking for a job. By far, the most effective strategy for getting a job is to look where other people are simply not looking.

Being Against Something – and Your Job Search

When I was in college I decided to start an anti-drug and alcohol-abuse organization. I affiliated with a giant group called BACCHUS (Better Alcohol Consciousness Concerning the Health of University Students) and one year I got funding in the amount of nearly $200,000 from the University of Chicago to bring Bill Bennett (the former ''Drug Czar'') to speak to the students. In fact, I made such a presentation to the student counsel one year that they gave me over 35% of the student activities budget to bring in famous speakers and others, to help fight drugs and alcohol on campus.

Look at Your Job (or the Job You Are Seeking) from Your Employer’s Point of View

One of the highest performing dental offices in Australia is that of Patty Lund, who takes his job very seriously. Some years ago, Dr. Lund studied the dental market and identified what people considered to be the three worst things about going to the dentist. He identified pain, smell, and waiting time.

Reading the Mind of the Interviewer

There are as many inept interviewers as there are inept candidates, and many interviewers fail both their employers, as well as deserving candidates, due to their incompetence. However, a job interview is not part of a democratic process, and while an employer would usually be left in the blind about the failings of the HR personnel, a rejected but deserving candidate has no means of demanding accountability. Consequently, the only option open to a candidate to survive and succeed in an interview is to successfully read the mind of the interviewer and respond adequately.

The Best Way to Prepare for a Job Search and Interviews

Several years ago when looking for a position in Los Angeles I interviewed with numerous law firms. In virtually every one of these interviews I ran across an attorney who knew not one, not two, not three-but numerous, numerous attorneys in my current firm. If this is the case in a market the size of Los Angeles (and the market in Los Angeles is huge), I cannot even imagine what it must be like in smaller markets. For example, I am from Detroit. I grew up in a suburb of Detroit. When it came time for me to decide where to work in law school, when I started interviewing with firms in Detroit I knew many of the attorneys before I even arrived at the interviews-they were the parents of people I grew up with.

Searching For a Job in Your Locality

A logical method is required to successfully execute any task, and searching for jobs without a well-defined and logical strategy may be the prime reason for the loss of careers and aspirations. Even in a highly recessive market, industry reports quote disgruntled employers who say that only about 50% of job applications meet their needs, and are frustrated over the failure to connect with the right workers. On the other hand, as expected, there are workers frustrated by their failure to find the right jobs.
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