It's a hiring slowdown. With nearly 800,000 layoffs in the first half of this year, job seekers are facing difficulties, including lengthy application processes and salary reductions.
Breakdown
- Layoffs in tech, retail, and government sectors have increased by 80% from last year.
- One in five job seekers submit over 100 applications before finding work. 24s
- More than half of surveyed applicants needed to apply to over 50 jobs before being hired. 48s
- Job seekers are often accepting lower salaries and facing longer hiring processes. 57s
- Hiring rates are at their slowest since 2014, despite low unemployment. 1m 25s