Why Is It So Hard To Find A Job

Why Do Job Requirements Seem Absurd
In 2024, the job market is characterized by significant shifts and challenges. With rising job requirements, the U.S. labor market is increasingly demanding, leaving many unemployed or struggling in their job search. This analysis explores the dynamic landscape of job market 2024, focusing on unemployment, heightened job requirements, and the impacts on individuals looking for a job.

Throughout 2022 and 2023, the disparity in job market opportunities grew, with a marked increase in competitiveness. By 2023, 42% of employees reported feeling excluded from job opportunities due to a lack of formal qualifications or experience. As companies evolve, there's a notable shift towards valuing skills over academic degrees, with 79% of hiring managers prioritizing practical skills, experience, and past achievements above formal education.

The first months of 2024 have seen a cooling of the labor market, influenced by high inflation and Federal Reserve policies to raise interest rates. This economic adjustment led to a decrease in hiring rates to 3.5% in March 2024, a significant drop from previous highs during the post-pandemic period. Concurrently, the total volume of job offers decreased by over 15% at the end of 2023 compared to the previous year, changing the ratio of available jobs per active applicant from one-to-one in 2022 to one job for every two applicants in 2023.

This shift indicates a more competitive labor market for job seekers, while employers now have a larger pool of candidates to choose from. Despite this, 46% of companies plan to increase their hiring in the first half of 2024, driven by a perceived skills gap among their current employees.

The hiring process itself is undergoing transformation. The traditional role of recruiters is diminishing, with significant layoffs noted within major companies like Google, Apple, and Amazon. This reduction in human resources personnel is partly due to an increased reliance on technology, with robots beginning to take over some recruiting functions. This shift can lead to mismatches between the skills offered by workers and those identified by automated systems.

Furthermore, the focus on quality over quantity in hiring is evident, with 54% of recruiters citing the quality of hires as their primary goal for 2024-2029. Companies are increasingly looking for specialized skills, which has led to a reduction in the availability of entry-level jobs. By the end of April 2024, entry-level positions constituted only 2.5% of the total jobs posted on platforms like ZipRecruiter, with a mere 1.9% of offers not requiring previous experience.

This environment is particularly challenging for recent graduates, with more than a third of employers preferring not to hire individuals from Generation Z, opting instead for older, more experienced employees. Many graduates feel unprepared and unqualified for the available positions, further exacerbating unemployment among the younger demographic.

In conclusion, the job market of 2024 presents numerous challenges for job seekers, particularly for those unemployed and newly entering the workforce. The increasing demands for specific skills and experience, combined with a reduction in entry-level opportunities and changes in recruitment practices, are reshaping the landscape of employment in the United States.

CHAPTERS:
0:00 Why Do Job Requirements Seem Absurd
0:55 Why is it so hard to find a job?
1:23 Competitive U.S. job market
2:07 Labor Market Slowdown
2:52 Job Offers
3:55 Hiring Process
5:11 Technological Revolution
6:06 Entry Level Jobs Availability
6:42 Unemployed Graduates
7:26 The Importance of Worker Training
8:10 The Future of the Job Market

Produced by: Samantha Harvey
Edited by: Jacob Smith
Animation: Charlotte Brown
Additional Footage: Getty Images

Conect With Economy Media Everywhere

#economymedia #jobmarket #unemployment

[karlstrauss]

Corporations want the work experience of a 50 year old, the drive and performance of a 30 year old, and the salary expectations of a 20 year old.

[random_nick_for_comments]

They pretend that they pay us, we pretend that we work

[millertime]

Hiring for skills and experience means they don’t want to train or onboard. I’ve started a couple of jobs over the past few years and the pace is insane for new people.

[RidiculousReviews-iiky]

The skills in demand are beyond ridiculous. I'm a senior with 10+ years of experience and multiple certifications but I wouldn't be able to get a Jr position with current required skills. Jobs be like "we need a virgin nun with 2 years of experience in sex"

[IL_Bgentyl]

This misses the part where jobs keep a massive amount of job postings with no intent to hire vs fish

[MissyMuthaTruckiN]

WE'RE IN AN ACTIVE RECESSION/DEPRESSION. Stop lying and covering the truth.

[CyberSecurityFashionDesigner]

It used to be that entry-level, you would get training and get better moving up in your position. Now jobs do not want to train and want you to do it all for a tiny salary with a masters. This is horrible :( my field is over

[Khi.]

There’s a shortage because no one is training. Instead of college should be creating pipeline partnerships into workforce if they want skilled workers

[intothebeyond]

All of this will come back to bite companies in the ass. We need to stop thinking about applying to a job and start thinking about making our own company . There's so many people out there with skills and know how if we could just come together and figure it out .

[sinebar]

I got out of engineering and enrolled in medical school. I’m in my last year now. Best decision I ever made.

[felixthecat]

This has been going on for 15 years. I've never been able to get out of customer service or make more than 40, 000 a year. I have a master's degree.

[RonnieMyers]

Companies: "Now hiring"
Reality: Posting fake job ads tricks ppl into thinking the.l company is growing

[DayrusBPB]

Unless there is a guaranteed job at the end of college, DO NOT GO.

[homehere]

I’m a NP and I was interviewed for a NP position at the army medical center in San Antonio. I have a year of experience. I asked one of the doctors on the interview how long is training and she said we are looking for someone to hit the ground running. Training is a thing of the past, and that’s sad. Not training new employee is lazy and irresponsible on the employer’s part. No wonder when I go to Walmart, Target, Zales etc. no one can tell anything about a product, sales etc cuz they just want a warm body.

[nunya]

Companies seem to not want to train you for a job and want to pay you the absolute minimum while requiring lots of experience

[kamilkachnic]

Job market is getting worse on daily basis. 😢

[secretpeace-wpxg]

6:44 many would feel unqualified because of how much employers are asking.
You shouldn't call a job entry level if it requires 3-5 years of experience and only pay pennies for employees. Don't get mad when they decide to leave for better opportunities.

There's little to no on the job training and then you're suppose to just figure it out even if its sensitive information.

2020 exposed the train wreck this system has become. At some point when do we realize that we can't just pull ourselves up by the bootstraps anymore?

Gen Z has its problems but these same criticisms we're seeing now are the same one's they did for the Millennials when they were our age.

[sweet]

No because they ship the jobs overseas for cheaper salary and slavery labor.

[notyou]

What’s lacking is the ability to properly train new employees and instead expect them to know everything before they get hired.

[nunyabeezwax]

15+ years later it was like this.
I have always heard wrong/worthless major (for poli sci okay, but business? REALLY?)

I have always heard: join the skilled trades - I'm too disabled for all of them many times over.
I have always heard: it's just the economy (lie)

The only thing I've heard that makes sense is NEPOTISM! WHO YOU KNOW AND ARE YOU GOOD LOOKING AND CHARMING!?

THE JOB MARKET IS JUST EFFIN HIGH SCHOOL FOR OLD PEOPLE!