Job Market Pessimism Grows Despite Low Unemployment
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Despite low unemployment, American workers optimism about the job market has plummeted, with only 28% now believing its a good time to find a quality job. This stark shift, from 70% in mid-2022, is particularly pronounced among college graduates, with just 19% now seeing opportunities. The low-hire, low-fire job market, where companies retain staff and layoffs are rare, has led to a gloomy outlook, especially for younger workers. Government data reflects this, showing a hiring rate of 3.2% in November 2022, the lowest since 2013, and 7.4 million unemployed people competing for 6.9 million openings. This economic reality, despite solid growth numbers, has many feeling the economy is weak, and rising oil prices could exacerbate the hiring squeeze.
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