Why No One’s Getting Hired
The U.S. job market is frozen. White-collar professionals, typically shielded from downturns, are now among the hardest hit. Over the past year, the “professional and business services” sector has shed jobs, a trend last seen during recessions.
Young college graduates face the steepest challenges, with their hiring rates declining more than any other education level. Since 2022, their unemployment rate has consistently exceeded that of the overall workforce, a first in decades.
Wage growth has slowed, job satisfaction has eroded, and workers feel trapped in their current roles. A Glassdoor poll found that two-thirds of employees feel “stuck,” unable to move up or out.
History shows that when labor markets stagnate, productivity falls, innovation slows, and inequality worsens.
The silver lining? A frozen job market is still better than a full-blown recession. However, if this trend continues, the long-term consequences could be severe, making this one of the most urgent labor market crises in recent history.
