About 80 percent of new jobs or job openings in the United States are not advertised. Instead, they come through referrals, localized job pools or other places. This is because most employers don't want to go through the sometimes thousands of unqualified applicants who apply for open job listings. Despite this, Americans spend about two-thirds of their job search time looking at ads, placing ads or sending out applications — and only about 9 percent of their job search time contacting friends and relatives to ask about job openings.
More facts about jobs and employment:
- About 9.2 percent of working-age people in the U.S. were unemployed as of mid-2011, which is about 14 million people.
- The earning power of the long-term unemployed might be reduced by as much as 20 percent for the next two decades after they re-enter the workforce.
- Experts say that the best ways to tap into the hidden job market is by networking and using personal connections, or even looking for jobs on social networking websites.