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In the video tutorial, it is explained that after creating a resume and cover letter, candidates often still need to fill out an employment application. This is important because it provides employers with a verified record of personal and employment history signed by the applicant. Many employers require this standardized application to collect consistent data about all candidates for a specific job, ensuring uniformity in the information gathered. Unlike resumes and cover letters, which can vary widely among candidates, the employment application maintains a regular format with the same questions for every applicant, aiding in the evaluation process.