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Young job seekers are finding it tougher to find employment, despite a bustling labor market: 'It was brutal' (www.cnbc.com)

submitted 4 months ago by return2ozma@lemmy.world to c/workreform@lemmy.world

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[-] Zachariah@lemmy.world 14 points 4 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.

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.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

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