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There's a really important part of the labor market out there it's called the hidden or the informal



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job market.



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And what this is describing is when companies hire through personal referrals and networking rather



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than putting ads up on places like Craigslist or indie dotcom.



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This is a really really really big part of the labor market really big.



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I say that it's really big.



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The New York Department of Labor has estimated that about 80 percent of jobs are never publicly advertised.



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They only exist on the hidden job market.



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So let's take Alex.



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Alex wants to be a digital marketer and he decides to approach some company in the formal way.



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So what he's going to do is he's going to go to their job board.



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He's going to see some physician and then he's going to submit a resume and a cover letter that's a



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formal application.



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The other way that Alex can approach his company is through the informal route.



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So let's just say that his neighbor's cousin works in the mailroom of this company and then Alex goes



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and talked to that person and then he meets more people.



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So hopefully one day there's a opening at this company and then they think hmm what about Alex.



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He really wanted to work here and then out got that call.



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So basically what we're saying is that the informal part of the labor market is really important.



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And if you ignore it it's kind of like walking around only seeing 20 percent of the world.



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It could be kind of dangerous like watch out for that Paul.



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All right so if you're active on social media remember that you can always connect with the users on



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Facebook YouTube Twitter and look at these links.