I first learned about it -- the economics job market which happens during the annual meeting of AEA, the American Economic Association -- from this post by Noah Smith, and I found the whole thing fascinating [I am always interested in disciplinary subcultures -- like the importance of conference papers in Computer Science, or the alphabetical listing of authors in certain disciplines].
But you must listen to this fantastic Planet Money (on NPR) story what this job market does, and how it goes about it -- from the point of view of one of the job applicants (a truly brave soul -- right through the podcast, I was seriously rooting for him!) and of several employers. Absolutely fabulous!
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Hat tip to Econ Nobel Prize winner Alvin Roth, who is also interviewed in the Planet Money story.