#labor-market-trends

#labor-market-trends

Sometimes a layoff isn't a farewell forever. Rehires of people who were laid off could become more popular in a shaky job market. Visier, a people analytics firm, looked at how many people were rehired at their previous employers within 15 months of being terminated. Visier found about 5.3% of laid-off employees were rehired, based on global data from 2018 to 2024 covering 142 large organizations with over 2 million employee records.

Especially alarming to many has been AI's effect on entry-level jobs. A blockbuster Stanford study in August was especially rattling, as it claimed to find a "significant and disproportionate impact" on entry-level jobs most exposed to AI automation-like software development and customer service-have seen steep relative declines in employment. This came out close to the MIT study that said 95% of generative AI pilots were failing and the somewhat sudden realization that AI could be building toward a bubble.

Confidence in finding a new job is at an all-time low among workers, while job hugging-the trend where "workers hold onto their jobs for dear life"-is at an all-time high, according to a new survey from the Federal Reserve Bank of New York released on Monday. The New York Fed's Survey of Consumer Expectations for August found respondents believed they had only a 44.9% of finding another job after losing their current one-the lowest in the survey's history since June 2013. That's 5.8% lower than in July, the previous month.

The rise of AI and clean energy technologies is set to reshape the American workforce, with major job growth projected in tech and energy-related industries, according to a new report from the Bureau of Labor Statistics (BLS). AI-fueled demand for software development, data processing, and cybersecurity is expected to boost employment in professional and technical services by 7.5% and in the information sector by 6.5% over the next decade, according to the BLS report.

According to our report, 22% plan to hire full-time staff, 17% seek part-time help, and others are eyeing seasonal workers (14%) and contract roles (12%).