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In the video, it is explained that despite having a well-crafted resume and cover letter, job applicants often still need to fill out an application form. This is important because it allows employers to have a verified record of the applicant’s personal and employment history. Employers use standardized employment applications to gather consistent data from all candidates, ensuring that everyone answers the same questions in a uniform format. This approach enables employers to effectively compare applicants based on the same criteria, contrasting with the varied formats and styles of resumes and cover letters.