is stagnating, particularly for white-collar workers. Employers are reluctant to let workers go and they also aren't in a hurry to hire.The cooling labor market may be good for quelling inflation but it's frustrating for job hunters — those who are employed feel stuck in roles they no longer want, while the unemployed struggle to get hired."The stagnant job market is driving people crazy," says Phoebe Gavin, a career coach in media, entertainment and tech.
Employers are asking applicants to perform complicated tests, and they're not willing to budge much in negotiations, she says. A graphic designer told Axios he's been looking for a new role for eight months. There are so many hoops to jump through in the interview process, he says. And the salaries and freelance rates on offer are far lower than a few years ago., job hunters share similar frustrations. Job openings are at their lowest level in three years, according to the latest Job Openings and Labor Turnover Survey data released Tuesday morning.
"Even if it's very frustrating that a person with a job, can't go out and find a new job and get a huge pay raise very quickly," he says. "That's actually probably the least painful way for the labor market to have cooled down over the last few years."Not too long ago, most professionals were living in a job hoppers paradise — now not so much.Share on linkedin
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