2023 has been the strangest most challenging job market.

22 Comments

1. AnonymousSeptember 27,2023 at 4:33PM UTC

   Definitely perplexed by the low unemployment rate. I think it definitely does not tell the whole story. The higher up the ladder you go, the more experience, the higher the title, etc....the more difficult it is to land a new job.

   Ageism? I've seen it. I call it out when I see it (I'm an HRM, and I'm required to be a part of the interview process).

   I'm actually somewhat concerned for myself. Right now, I've been reassured that my job is safe, but my company is not stable and there will be cuts. I'm trying to be proactive and have phone screens lined up, I'm getting myself out there (under the radar, of course), but I'm 50 and I know how it is.

2. AnonymousSeptember 27,2023 at 5:41PM UTC

   So many have dropped out of the workforce and so unemployment would not reflect those numbers

   It's so bad and the media is reporting such great news so it's hard to say

3. AnonymousSeptember 28,2023 at 1:28PM UTC

   It's unbelievable that the unemployment rate is not telling this darker story about those who have dropped out of the workforce because they have been forced out.

4. AnonymousSeptember 27,2023 at 5:47PM UTC

   As someone mentioned, there are many who have opted to "do their own thing" or those who have dropped out of the market, and those that have exhausted their UEI payments. They are not counted in the unemployed numbers any longer. And, when companies complete the info that shows how many jobs they have open, some include jobs they know they're not going to fill and others don't, they play the game and all is reflected in the numbers.

5. AnonymousSeptember 28,2023 at 6:39AM UTC

   Great point!

   The official U.S. unemployment rate, designated U3 by the U.S. Bureau of Labor Statistics, is 3.8%. This number excludes the long-term unemployed and those who are not actively looking for work.

   The U-6 unemployment rate includes “discouraged workers” — those who are not actively looking for work and the longer-term unemployed. The U-6 unemployment rate is 7%.

   There is an enormous difference between the U-3 official unemployment rate (3.8%) and the U-6 unemployment rate (7%.)

   I think that the U-6 rate is far more indicative of the state of the U.S. labor market.

   For more information, go to https://www.bls.gov and look for Table A-15.

6. AnonymousOctober 4,2023 at 6:08PM UTC

   Agree completely. I know so many in the U-6 category in their 40's and 50's. Why is absolutely no one, no media outlet, no political talking head - addressing this? It's incredible to hear well known news anchors sound puzzled when they don't understand why Americans are not happy with the economy. This is the story not being told.

7. AnonymousOctober 4,2023 at 9:58PM UTC

   Thanks for your validation of my post. Appreciated!

   I think that there are a number of reasons that the U-6 problem is not being reported or addressed:

   1)Most Americans are not aware of U-6.

   2)People who fall in the U-6 group are typically devastated, diminished and ashamed of their status, and are therefore not speaking up.

   3)U-6 members have no/little economic clout, so it is hard to organize on their behalf. (Very few people are making money by providing goods, services or representation to the long-term unemployed.)

   4)Politicians are rewarded for low unemployment rates, not higher ones. It is more advantageous for both Democratic and Republican office holders to refer to U-3, not U-6.

   I would like to see the U-6 story told, but acknowledge the many roadblocks.

8. Grisel Scarantino, Career and Work-Life Fulfillment CoachSeptember 27,2023 at 8:52PM UTC

   I work mostly with professional women who are over 40 and they are successful in quickly landing the types of roles they're after.
   The average length of time from the application process to an offer is 3-4 months. Ageism might exist, but it becomes more of a barrier when the applicant believes it to be true. It's a self-limiting belief that prevents them from confidently showcasing the incredible value they bring to the table in terms of their skills and experiences. Don't let that happen to you. Know your worth, know why you are the best candidate for the roles to which you're applying, and speak to that with confidence.

9. AnonymousSeptember 28,2023 at 6:20AM UTC

   I am so pleased for you and your clients! Good for you!

   FWIW, though, ageism gets worse as workers hit their 50s and 60s. And it’s not all in our heads.

   That said, you are entirely correct that self—limiting beliefs are detrimental and drag us down.

10. Jacquelyn UngarinoSeptember 27,2023 at 9:31PM UTC

    I have been unemployed since May. I am 31 years old and have been actively applying to jobs every day and I have had many interviews. The job market is SUPER competitive and saturated right now. I have not peronsally experienced any type of sexism or ageism to my knowledge, but it does seem that a lot of people are unemployed right now .. and in general, it is a very difficult time to be unemployed and in the job market.

11. AnonymousSeptember 28,2023 at 1:43AM UTC

    I am 48 and my search took three months to land a job, which is on-par with my past job searches. I credit two things for this: 1) a specialized skill and 2) job seeking experience. Unlike many in my generation, I have not been resistant to changing jobs throughout my career, and it has served me well.

12. AnonymousOctober 4,2023 at 9:40PM UTC

    Congratulations!

13. AnonymousSeptember 28,2023 at 6:17AM UTC

    Many older women (especially those aged 50+) have dropped out of the workforce in frustration.

    The U.S. has very low unemployment, but labor force participation is also lower than in past decades and economists have professed to be puzzled by the relatively high rates of retirement among workers in their 50s and 60s.

    My view is that lower labor force participation and higher retirement levels reflect involuntary “retirements” by those who can’t find jobs due to ageism.

    This is a tremendous problem that is being overlooked.

14. AnonymousSeptember 28,2023 at 1:26PM UTC

    Agree with this 150% - it's devastating for those who both want and need to work in their 50s and 60s. This issue needs to be elevated to an urgent national conversation.

15. AnonymousSeptember 28,2023 at 12:44PM UTC

    As I reflect on this post further, I think back to 2008-2009. After leaving a job I was miserable in end of 2007, finally getting my 4-year degree in 2008, then laid off from another job mid-2009, I had a much more frustrating time then. My problem at that time, my struggle, was I didn't have the experience to get the job but needed the job to get the experience because I didn't realize the value of a good internship (as a non-traditional student it was that much harder). When I found myself unemployed beginning of 2022, it did take nearly 4 months to land my current job but I had greater success overall in my search. And now, out of concern about the future of my company (I am work for a supplier in the auto industry), I have kinda passively been searching (I have to because I am 50 and I know that yes ageism does in fact exist), have had several recruiters reach out (for roles that I wasn't entirely interested in) and now have 3 phone screens lined up over the next week.

16. AnonymousSeptember 28,2023 at 1:06PM UTC

    It is confusing . I have had trouble getting temp jobs just to tide me over and I have been looking for over a year!!

17. AnonymousSeptember 29,2023 at 12:58AM UTC

    I don't know whether it is ageism or maybe when we are over certain age typically we are at a higher paying position and request higher pay grade and higher compensation. So there are less available positions. Also, there is reluctancy to hire for lower level positions if they consider you overqualified. I sometimes dum down my resume if I am interested in lower level position. I just want to have a stable job for the next 5-7 years, but for some reason employers don't trust I would be motivated. Also, younger managers don't feel comfortable managing older workers.

18. AnonymousSeptember 30,2023 at 7:13PM UTC

    It’s truly awful out there - I guess the question for all is what can be done about it or is it about accepting this nightmare of a job market is permanent. Job searches are taking months if not years on end for experienced candidates - if unemployed it’s especially brutal, and biased. No one is telling the real story of what the job market is like - just false ‘low’ historic unemployment numbers. With inflation, rising gas prices, and an election year no one is excited about - there seems little hope for the job market to turn around.

19. Drea RahmingOctober 1,2023 at 3:37PM UTC

    Honestly the words you wrote encompass what both me and my husband are going through have gone through this past year alone

20. Courtney StewartOctober 4,2023 at 1:25PM UTC

    For those who mentioned dropping out of the workforce I'm curious if that means these folks just don't need to work/have money to support themselves.

21. AnonymousOctober 4,2023 at 9:39PM UTC

    Courtney, my guess is that many/most of those who drop out of the workforce have one or more of the following:

    1)At least one other family member working.

    2)Social Security and/or other retirement benefits. (The earliest age to collect Social Security is 62.)

    3)Savings.

    You can assume that the standard of living experienced by most involuntary retirees and their families drops. This is usually not a good situation.

22. Clarissa McMickens-ThomasOctober 5,2023 at 7:28PM UTC

    Yes, I totally understand where you are coming from but I just know and have faith that things are going to work out. It’s a different type of environment when you are not the youngest person on the team anymore. I actually changed my career in my 40s and still thriving but I have experienced some ageism or biases but I keep pushing forward. No one can stop me but myself!! It’s me against me and I’ve always got my back. Be encouraged and look for organizations that value diversity in different generations of workers.