Poetryandwine called though I am not sure I can add that much. Only some observation's of DS' path. Partially in bullet form because they are random.
- he should look at TheGradCafe forum. Not as well moderated as here but active. The Student Room might also be worth a glance.
- he should make contact with academics/tutors he has known in the past both for advice and because he will need references.
- he should be aware that funded PhDs are like hens teeth. Competition is huge, and competition for tenure track research positions is even tougher.
- economists are lucky in that it is an in demand subject and that there are alternative employers in the private and public sectors, which makes it slightly easier to forge a career, but it is still tough.
- mobility (international) can be important.
- relevant experience outside academia is often considered useful by academic institutions.
- I am not sure how RA jobs are advertised but word of mouth seems to play a part. DS was interviewed by someone at UChicago who seemed to be on first name terms with his referee. He did not get that but the person suggested someone else who was looking, and he got an offer from them.
DS was very lucky. He took a Masters (in Econometrics and Mathematical Economics) and fully expected to have to take a "gap year" working as a research assistant whilst he focussed on PhD applications. To give himself some practice he applied for a few "achievable" institutions for funded PhDs during his Masters year and wound up with a RA job offer with someone good at a top US University and and two PhD offers, one in the UK, the other in the US. He was strongly advised to gain US experience, and in the end decided not to risk losing his PhD offer.
A friend of his took a consultancy job post Masters, then decided he wanted to return to academia and take a PhD. He took an RA job at his old University, presumably in a relevant field, and started applications. Unfortunately though he got close he did not get anything and returned to consultancy, where the much higher salary was presumably a consolation.
A lot of PhDs are coming onto the market each year, far more than the number of academic jobs. DS applied for around 250 worldwide, had Zoom interviews for perhaps a couple of dozen, and was shortlisted (flown out) for about five. Most jobs had several hundred applicants. There is a divide between teaching track job and those which allow time for research, so one of his friends has wound up at a very highly rated University but in a teaching-only role. And then once you get the research role you need to get tenure, which in the UK might mean getting published research out within a set timeframe, often three years, which in economics is tight. So a lot of hard work for a long period of time, not great stipend/pay, possibly on different continents, and no promises at the end. The good thing is that there is a wider market for economic research skills. So much easier than, say, humanities.
As I said, I am no expert so happy to be corrected by those who know more.