The power dynamic in the job market is shifting back to employers, at least for white collar workers hit by automation and overproduction. While overall job growth remains, companies are finding it easier to replace and retain office workers. This allows them to be more selective and demanding with staffing decisions.
Firms are mandating office returns, laying off employees, and taking a harder line in hiring. Job quitting has declined 25% from its peak as workers' confidence wavers. The number working multiple gigs is rising too, suggesting some struggle to land full-time roles.
While not a full "employers' market" yet, momentum has clearly swung from employees back to companies. Tech sector layoffs are one sign of this change. As economic uncertainty grows, workers seem more willing to accept employer demands around remote work and office attendance. For now, help wanted signs still dot the landscape. But leverage has tilted back toward bosses. The "battle for talent" appears to be winding down.
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