July 12, 2022
It’s been an employees’ market recently. Since January, the market has added 1.7 million jobs. However, according to a new report from job search platform Joblist, which surveyed over 11,000 job seekers, many aren’t feeling that rosy about the job world:
80% expect the U.S. will enter a recession within the next year, and two-thirds say they are worried about this.
While 41% of employees have received raises this year, only 28% say these raises have been higher than inflation. Over 75% of job seekers believe they could make more money if they switched jobs.
Yet, switching jobs also has a cost: 26% of employees who switched jobs said they regretted it, and 17% said they would go back to their old job.
While the pandemic caused two million people to go into early retirement, 27% of those workers are now going back to work. However, 60% of them say this is for personal reasons, such as wanting to occupy their time, versus 21% who cite inflation as their primary motive for returning to work.
“It’s been a job seeker’s market for some time, but now the outlook is more uncertain,” Kevin Harrington, Joblist’s CEO, wrote in an email. “Despite the economic warning signs, it’s still not a bad time to search for jobs. My biggest piece of advice for active job seekers is to evaluate new opportunities extra critically and look before you leap. It might be more difficult to switch roles later, so make sure you are confident in your decision and have a backup plan before quitting.”
(19)
