That gradual cooling seems to be playing out in the labor market. Big technology companies, for example, have cut tens of thousands of jobs. However, those layoffs"I think the headlines would make workers very panicky and nervous about their job security. And I would tell workers not to panic quite as much," said Julia Pollak, chief economist at ZipRecruiter. "Historically this is still a job seeker's market.
"Workers are experiencing unprecedented job security — and not just job security, but choice," Pollak added. That said, jobseekers are likely still feeling a slowdown even if the labor market is strong, Zhao said. For example, a worker today might not have as many job offers, may get a smaller pay bump when switching jobs, or might find the job search takes a bit longer relative to the dynamic in 2021.