The job market is horrible. For every opening, hiring managers report hundreds of resumes. They also report most look the same...nothing to distinguish one candidate over another.
While many people turn to Facebook, My Space or Linked-In to provide a web presence, a key element that can help set you apart from thousands of other job seekers is you own personal web site. You also control 100% of the content so no one can post comments or photos that might turn off a prospective employer.
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