(NewsNation) — Thinking about changing jobs but not actually seeing any openings?
You’re not alone, according to economic data. The U.S. job market isn’t favoring job seekers like it used to, at least compared to a couple of years ago.
At the end of 2023, job postings were down more than 15% from a year earlier, according to data from Indeed, The Wall Street Journal reported.
Meanwhile, “The Great Resignation” was a popular term in 2022 when a large number of employees were quitting their jobs for new opportunities in different industries, or even to start their own businesses.
In October, U.S. job openings fell to the lowest level since March 2021, in a sign that hiring is cooling in the face of higher interest rates. Layoffs were also up modestly in October. And the number of Americans who quit their jobs, which generally reflects confidence in finding better work, was down slightly.
“Fewer people are quitting their jobs, which is a sign that people who do have jobs, they’re having a relatively hard time finding new work or they’re just not taking that leap to go to take one or find one,” Nick Bunker, an economic research at Indeed, said during an interview with Business Insider.
Bunker also referenced Indeed’s posting index, which revealed a dip in openings for “sectors that may include white-collar positions.”
“The sectors that have seen the biggest declines in job postings are ones more likely to be traditional office jobs,” Bunker added.
The Associated Press contributed to this report.
