this post was submitted on 06 Jun 2024
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Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

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[–] Zachariah@lemmy.world 14 points 5 months ago

KEY POINTS

  • Worries are growing that the labor market is beginning to show cracks, particularly for younger aspirants.
  • The monthly rate of workers with little previous work experience getting jobs has plunged, falling to 13% from its previous peak of 20%, according to Goldman Sachs.
  • “Quite honestly, it was pretty brutal,” one job seeker said. “It felt like a lot of work for little response, little reward.”
  • The hiring rate for all workers is at 3.6% of those counted in the labor force, just off the low of the post-Covid era, according to the Bureau of Labor Statistics. Prior to the pandemic, the hiring rate was last below the current level in August 2014.