The frozen job market is dire for entry-level workers
Summary
Job postings on Indeed, a job site, have decreased by 7% compared to last year. This decline in job listings affects everyone but is especially challenging for new graduates trying to enter the job market. While job openings are few across most sectors, positions in medical and finance fields have seen slight increases.Key Facts
- Overall job postings on Indeed.com fell by 7% in August 2023 compared to August 2022.
- New graduates are having a hard time finding jobs due to fewer openings.
- Job postings for physicians and surgeons increased by 3.2%.
- Banking and finance job listings rose by 4.7%.
- The unemployment rate is higher among recent college graduates than the general population.
- Job postings in scientific research and development dropped nearly 25% from the previous year.
- The tech industry is hiring more for senior positions than entry-level roles.
- Job listings are still slightly higher than pre-pandemic levels.
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