Attention Economy


Thursday, August 29, 2024

State of US and UK Labor Markets

Bosses Are Finding Ways to Pay Workers Less
After a tumble in pay for white-collar job openings, wages for new hires in many blue-collar sectors are now falling.

For Two-Job Workers, There Aren’t Enough Hours in a Day to Stay Afloat

https://www.wsj.com/economy/jobs/workers-multiple-jobs-lifestyle-economy-344c8f10
 
Risks to US Job Market Start to Emerge in Regional Fed Surveys
 
Fed Rate Cuts Are No Magic Fix for Anemic Hiring

‘Like throwing myself at a wall’: UK graduates struggle in ‘insane’ job market
https://www.theguardian.com/money/article/2024/aug/29/uk-graduates-struggle-job-market
Having graduated from the University of Oxford with a first-class BA in English and French last year, Emma*, a 23-year-old from London, said she has been on the hunt for a graduate job in publishing and adjacent industries since. She is now sending out five applications a week, alongside a full-time job, and has so far secured just four interviews and an offer of a minimum wage internship – which was retracted.
“My parents’ idea of ‘if you work hard, you’ll get what you want’ doesn’t really work anymore. The older generations’ expectation that if you’ve got a ‘good degree and good skills you’ll be fine’ is just no longer tenable. I feel like I’m throwing myself at a brick wall.”
Emma was one of dozens of recent university leavers from across the UK who shared their struggles to secure their first graduate job, in response to an online call-out by the Guardian.
Graduates described “soul-destroying” job hunts in many apparently saturated fields spanning months or even years, companies that had “ghosted” applicants who had completed online assessments or taken months to respond, and being unable to land jobs they felt they were overqualified for.