"Even though the numbers are the same - they hit different depending on where you are in your career. If you're someone who already has a job, then you'll be "hugging" tighter to your current role, faced with fewer options. New grads have no current role. "Getting into the labor market is incredibly difficult," says Allison Shrivastava, an economist at Indeed Hiring Lab."
"The entire job market is actually pretty bad. While unemployment is still relatively low by historic standards, there are few job openings and hiring is weak. Across almost every sector that Indeed tracks, job postings are down from last year. The only exceptions? Listings for physicians and surgeons are up 3.2%, and listings in banking and finance (up 4.7%) This frozen situation matters more to those without employment. It's why you're seeing higher unemployment rates for recent college graduates versus overall."
Overall job listings on Indeed fell 7% year-over-year in August, matching a 7% decline for entry-level postings. The decline affects workers differently depending on employment status: employed workers face fewer alternatives and tend to cling to current roles, while new graduates lack jobs and face intense difficulty entering the labor market. Job openings and hiring are weak across most sectors, though physician, surgeon, banking, and finance listings rose modestly. Scientific research and development listings plunged nearly 25%, likely tied to reduced federal spending and layoffs. Some industries favor senior roles (tech) while others concentrate openings at the bottom (retail), increasing graduate unemployment.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]