Russ M.’s Post

It takes the average person six months to find a job, roughly a month longer than it did during the postpandemic hiring boom in early 2023, according to the Labor Department. The U.S. economy has added more jobs over the past year, but unemployed Americans are having a harder time getting back into the workforce. The pain is largely in high-paying white-collar jobs, where businesses grew fast when the economy reopened from the pandemic but now have less need for new hires. https://buff.ly/427ZcA1

Really interesting article we wanted to share. As workers feel increasingly stuck in their current roles with limited opportunities for advancement, pent-up resentment is growing, especially as the job market stagnates and the promises of career growth from just a few years ago seem distant. The U.S. job market has shifted from the high turnover rates of 2022 to a period of stagnation, with workers feeling increasingly "stuck" in roles with limited advancement opportunities. With many positions not posted on job boards and competition for roles intensifying, now is the time to partner with a professional recruiter who is well-connected in the local market and can provide access to confidential openings and career opportunities. A team like JFC Global can help you each step of the way, with no costs to help you along in your job search! #careergrowth #jobsearch #optimism

The red-hot labor market created when businesses resumed activity after Covid shutdowns in 2021 put job seekers firmly in the driver's seat. When countless people abruptly quit their jobs for new, plentiful, and often better-paid prospects, short-handed employers scrambled to find candidates for their many openings. While that period of abundant job opportunities will be remembered fondly by millions of people who improved their employment situations, company owners will be delighted to hear that page appears to turned definitively. #business #enterprise #labor #employment #jobs #trends #sociology

Career confidence ebbs to new low American workers are feeling more and more pessimistic about their career prospects, according to LinkedIn’s latest Workforce Confidence survey. Workers’ confidence in their ability to progress in their careers over the next year has fallen by 5 points since the start of the year (from +29 to +24, on a scale from -100 to +100). That’s the lowest level since the survey began in 2020. The drop is particularly pronounced for men, the survey shows, even though they have historically reported higher confidence levels than women. Economic instability, inflation, and fears of a recession have lead to decreased confidence in job security and career advancement. Workers are worried about potential layoffs, reduced hiring, and limited opportunities for growth. Changes in the job market, have increased layoffs, especially in the tech industry,which has seen significant layoffs. With rising living costs, workers feel that their wages are not keeping pace, leading to dissatisfaction with their current positions and concern about future earnings potential. The shift towards remote work has created new challenges in work-life balance and career progression, as some employees feel less visible and more disconnected from traditional career development pathways. Rising inflation rates contribute to financial stress among workers, which has lead to concerns about the ability to meet personal and professional financial goals, which impacts overall career confidence. #careerconfidence #layoffs #challenges

Breaking News! According to this NY Times article, the "U.S. Jobs Report Shows Hiring Has Shifted Into Lower Gear". 🙄 No s***. We've been in a secret recession through the whole summer. While I know a handful of people who have quickly navigated a role change or a rehire post layoff, most folks have spent the majority of these warm, sunny days inside on their laptops, applying for jobs and networking as if their livelihoods depended on it. 🤑 But, here's the good news!! There is actually an uptick in hiring. Even in just the last two weeks, we've seen a 20% increase in offers extended to our clients.🤑 If you've been job hunting for awhile and feeling disheartened... 👉 You might need a simple but critical tweak to your messaging. 👉 You might need a sounding board to hone an attractive career narrative. 👉 You might need to adjust your approach to networking (because everyone's networking and being effective takes a new kind of finesse.) 👉 You can definitely improve with a little real-time interview role play. Don't waste time putzing around on your own. Let's kick your job hunt into high gear! Reach out to me directly for a free coaching session! Raven Road Partners #hiring #recruiting #coaching

The Stagnating Labor Market: A Double-Edged Sword 📈⚖️ As the labor market cools down, particularly for white-collar roles, we're witnessing a unique dynamic that could have far-reaching implications for both the economy and job seekers. On one hand, this slowdown in hiring could be a positive step towards curbing inflation, as employers become more cautious about expanding their workforce. However, on the flip side, it presents significant challenges for those seeking new opportunities or looking to make career transitions. The current job market is becoming a frustrating maze for many. Employers are reluctant to let go of existing talent, yet they're equally hesitant to bring in new hires. This creates a stagnant environment where job hunters face lengthy and complex hiring processes, with little room for negotiation. The ripple effects of this stagnation could be substantial. Employees who feel stuck in roles they no longer find fulfilling may experience decreased motivation and productivity, ultimately impacting organizational performance. Simultaneously, the unemployed face an uphill battle in securing new opportunities, potentially leading to extended periods of unemployment and financial strain. As we navigate this challenging landscape, it's crucial for job seekers to remain resilient and adaptable. Networking, upskilling, and exploring unconventional career paths may become necessary to stand out in a crowded job market. For employers, this could be an opportune time to re-evaluate their talent strategies, focusing on retention, internal mobility, and creating a more dynamic and engaging work environment to attract and retain top talent. While the cooling labor market may serve as a temporary fix for inflationary pressures, its long-term impact on the economy and workforce dynamics remains to be seen. Striking the right balance between economic stability and fostering a thriving job market will be a crucial challenge for policymakers and industry leaders alike. #LaborMarket #Hiring #Unemployment #CareerGrowth #EconomicTrends #WorkforceDynamics

Something’s shifting beneath the surface… The latest economic reports paint an interesting picture of the job market. Hiring managers are becoming choosier over who they hire, and the power is shifting back to employers. It looks like employers are hesitant to expand their workforces due to concerns about demand and an uncertain economic outlook. Many businesses are holding steady, avoiding layoffs but not actively growing. Meanwhile, job seekers are facing longer search times and fewer wage increases, with businesses placing less emphasis on pay pressure for most roles outside of specialty trades. BUT workers in niche, high-demand areas - like tech and supply chain - are seeing wage increases and faster placements. Put simply? The job market is cooling for general roles but thriving for specialized ones. In terms of how this works in practical terms… For hiring managers, this environment makes skills-based hiring more important than ever. Employers are looking for exact matches to fill roles with precision, especially as demand for niche skills continues to grow. My advice for them: investing in assessments, clear benchmarks, and training programs is critical to finding and retaining the right talent. But don’t overlook potential talent because of a narrow focus. Specialization does matter but transferable skills and adaptability can bring long-term value to your team. For job seekers, transferable skills remain valuable, but standing out means showcasing your niche expertise. Stay persistent, upskill through certifications or training and network strategically to connect with roles that align with your expertise. With the right approach, both employers and job seekers can navigate these changes successfully - let me know if you need help navigating!

In 2024, the U.S. economy experienced a noteworthy surge, adding 2.2 million jobs. The most recent monthly jobs report exceeded expectations by unveiling 155,000 new positions and showcasing a 4.2 percent unemployment rate. The healthcare sector took the lead in job creation with 46,000 new roles, closely trailed by retailers with 43,000 additions. Additionally, government agencies at various levels contributed significantly, adding 33,000 new positions. Amid the thriving job market and low unemployment rates in the US, the question arises: where do you find your talent? At Solvo Global, we leverage a remote workforce to facilitate the expansion of your business and achieve substantial reductions in labor expenses. Operating across 20 countries and 50 cities, our talent network extends far beyond US borders. Interested in exploring talent untapped by your competitors? Eager to slash labor costs by hundreds of thousands of dollars? Join us and witness the difference! Source: Newsweek.

is there actually a #job recession in the market? My speculation on the present #employmentlandscape suggests that it is highly paradoxical in character. While some stories claim that employers are actively seeking new hires, others claim that the labor market is in a slump. So what precisely is going on at this moment? Employers are eager to add new members to their staff, but not all applicants are accepted. The following could be the causes: 1. #Skillgap: The organization is searching for an employee with a certain level of knowledge, but there is a big discrepancy in their real skill set. Workers expect the organization to provide them with the necessary training for the specific position they are looking for. 2. #Employeeturnover: A new trend in the market among entrants is for them to join an organization for a few years, after which they depart in search of other chances. The corporation, who wants devoted workers who share its vision, has become less trusting as a result of this. An organization's "employee turnover" ratio is put in a challenging situation when employees leave on a regular basis. As a result, the employment process has become quite competitive, and the organization has formed several bonds 3. Uncertainty regarding features of future employment –many members of the younger generation, who are currently in their mid-20s and seeking employment, are unsure of the specific kind of position they would like. Just "getting a job" is the reason behind their application. If we investigate this more, we might find more causes. But one thing is certain: there are a number of problems with hiring in the organization for both the company and the applicants. #jobmarket #jobmarket2024 #jobrecession

Getting a job was tough for many Americans in 2024. If a career shift is your New Year's resolution for 2025, you might still find it challenging. Job growth has slowed, unemployment has been historically low but rising, and unemployed Americans are staying jobless for longer. "Heading into 2025, it is going to be a little harder for job seekers across the board," Cory Stahle, an economist at the Indeed Hiring Lab, said in December. "We've seen that just about every category on Indeed has come down year over year in terms of the number of job postings. So that suggests that employer demand has cooled." Nela Richardson, ADP's chief economist, described the labor market in 2024 as unusually stable and quiet. She pointed to steadily low layoffs and a drop in voluntary turnover amid cooler hiring. "The stasis is rather abnormal, and I think it's going to make it tough for workers who are looking for new opportunities to find them," Richardson said. See what economists expect when it comes to job searches, wages and promotions, and other aspects of work life in 2025: https://lnkd.in/dRt9BVJa (Credit: Liam Eisenberg for BI) #careers #jobs #jobmarket #hiring