The job market appears increasingly challenging for recent college graduates and job seekers, according to economists and labor experts. Mandi Woodruff-Santos, a career coach and personal finance expert, characterized the current landscape as “kind of trash right now,” emphasizing the mounting difficulties even for well-experienced candidates, let alone those just entering the workforce.
Despite a national unemployment rate of 4.2% in May and historically low layoff figures, hiring has stagnated. April marked the lowest hiring rates in over a decade, excluding the onset of the COVID-19 pandemic. This trend raises alarms as the rate of workers voluntarily leaving their jobs, an indicator of confidence in job prospects, has dropped significantly below pre-pandemic levels. This represents a stark shift from the optimistic “great resignation” phase observed in 2021 and 2022. Heather Long, chief economist at Navy Federal Credit Union, noted that this summer will be particularly tough for those searching for full-time positions, describing the current state of the economy as one of “abundance of caution,” where businesses are only filling essential roles.
Although the job market showcases signs of weakness, Long reassured that an immediate recession doesn’t seem likely. In fact, businesses added more jobs than anticipated in May. However, the pace of hiring has markedly slowed, a trend that raises concerns among economists. Fears about economic uncertainty have led to decreased hiring confidence among CEOs, as reported by The Conference Board. The share of CEOs planning to hire has dipped from 32% to 28%, and those expecting to downsize increased slightly to 28% as well. Roger Ferguson Jr., chair emeritus of The Conference Board, identified geopolitical instability and trade policies as primary concerns for businesses.
Cory Stahle, an economist at Indeed Hiring Lab, warned about the sustained erosion of the job market, stating that this cannot persist indefinitely. In a stagnant hiring and slow-growth environment, employers can only hold on to their current staff for so long before layoffs become necessary, which would further elevate unemployment even as job opportunities decline.
In this fiercely competitive job market, networking has never been more critical, according to Woodruff-Santos. Her top advice is to step out of your comfort zone to build professional connections. She emphasized the importance of engaging in situations where you may not know anyone, which can lead to valuable networking opportunities. For job seekers willing to take less-than-ideal positions to make ends meet, staying current in your desired field is essential. This might involve pursuing certifications or taking relevant courses to enhance your skills.
Joining professional organizations can also facilitate connections with others in your field, increasing your visibility to potential employers. Woodruff-Santos offered a dose of encouragement, reminding job seekers that challenging job markets are cyclical. “The job market has been trash before and it will be again,” she stated, assuring readers that they will ultimately find their footing.
As the job landscape continues to evolve, staying adaptable, proactive, and connected is paramount for those entering this complex and possibly daunting new world of work.
Original Source: https://www.cnbc.com/2025/06/09/job-market-is-trash-right-now-career-coach-says-heres-why.html
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Publish Date: 2025-06-09 16:00:00
