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Not finding a LinkedIn page for someone can range from a neutral signal to a negative signal depending on the hiring manager. I personally don't read anything into it, but I know many hiring managers who feel that lack of a LinkedIn page is a negative sign. I don't like it, but it's how the world works some times.
A seasoned LinkedIn page is also becoming very valuable for applying to remote jobs. Remote employers are getting nervous with all of the overemployed people and fake applicants. Having a mature LinkedIn page with a decent number of connections to real people is a major positive sign for remote hiring.
It's not something you will be able to see or detect as a candidate.
If someone isn’t on it, the chances are significantly higher they are fake or trying be be “overemployed.”
Does not having LinkedIn mean you’re not qualified or not real? Certainly not. Does it mean I will pass your resume over when sorting through a stack of qualified applicants? Absolutely.
This isn't universal in every market. Business is very insular here and work follows referrals and introductions. You have those and you have work. Without them, Linkedin won't help.
I'm 35yr in IT; I plug into my clients in a way that I learn their processes - inc hiring. Few white collar employers here use Linkedin. I've never worked with one who did.