Attention Economy


Friday, January 12, 2024

A Bifurcated Labor Market

Companies Are Still Cutting White-Collar Jobs
https://www.wsj.com/economy/jobs/companies-arent-done-cutting-white-collar-jobs-390347a3
Employers from Amazon to BlackRock are shedding roles, showing a continued push to do more with less.

Class of 2024 Can’t Land Jobs as Hiring in Tech, Finance Wanes
https://www.bloomberg.com/news/articles/2023-12-13/jobs-for-college-graduates-class-of-2024-struggles-to-find-tech-finance-roles
It’s harder to secure an entry-level role at prestigious firms in the US, leaving college seniors scrambling.
 
Big Four Accounting Firms Overhired. Now They’re Starting to Lay Off Partners.
https://www.wsj.com/articles/big-four-accounting-firms-overhired-now-theyre-starting-to-lay-off-partners-d0c6ee6b 

The State Where Unemployment Is Rising the Fastest Is Having Trouble Filling Jobs
https://www.wsj.com/economy/jobs/the-state-where-unemployment-is-rising-the-fastest-is-having-trouble-filling-jobs-f645cbf7
New Jersey joblessness is climbing as employers cut white-collar jobs but can’t find enough nurses, drivers and others with certain skills 

New college grads are more likely to be unemployed in today’s job market
https://www.washingtonpost.com/business/2023/11/19/college-grads-unemployed-jobs/#
"Part of the problem is that the industries with the biggest worker shortages — including restaurants, hotels, day cares and nursing homes — aren’t necessarily where recent graduates want to work. Meanwhile, the industries where they do want to work — tech, consulting, finance, media — are announcing layoffs and rethinking hiring plans. …
The issue, some economists say, is not so much that recent college graduates are falling behind. Instead, workers without degrees are finally getting a leg up. Demand for workers has been brisk in industries like leisure and hospitality, child care and manufacturing, which typically don’t require a college degree. Construction postings on the jobs site Indeed, for example, are up 50 percent from pre-pandemic levels, while software development and marketing openings have fallen about 20 to 25 percent".