Job Seekers Face Challenges amid ‘Low Firing, Low Hiring’ Labor Market, Economists Warn

Despite a resilient job market, Americans seeking new employment are finding fewer opportunities, economists say, as hiring slows to its lowest rate in over a decade.

April’s unemployment rate held steady at 4.2%, and layoffs remained historically low. Yet job creation has stagnated, with businesses hiring at their slowest pace since 2014. Nearly 24% of unemployed individuals have now been jobless for over six months — a notable rise from 19.6% one year ago.

“This is just how it is right now: Companies are not hiring,” said career coach Mandi Woodruff-Santos. “If they are, it’s very infrequent.”

Woman sitting in front of a laptop | Source: Pexels

Economist Cory Stahle of the Indeed Hiring Lab described the situation as a “low firing, low hiring trend,” noting a widening gap between employed and unemployed workers. Economic headwinds — including trade tensions and declining consumer confidence — may further hinder job creation. Still, experts say job seekers can improve their chances with a strategic approach:

Creative Networking: Job seekers should prioritize personal connections over traditional applications. “Put yourself in front of them,” Woodruff-Santos advised, encouraging attendance at niche industry events, not just job fairs.

Internal Mobility: Dissatisfied employees may find overlooked opportunities within their current organizations. “Opportunities have gone further underground,” said Frances Weir of Korn Ferry.

Person searching for work | Source: Pexels

Tailored Applications: Generic resumes won’t suffice. “Echo keywords from the job description and highlight results,” said Indeed career expert Jennifer Herrity.

Flexibility: Temporary or adjacent roles may offer valuable experience and connections. Experts agree: Adapting to the market’s current dynamics is crucial for job seekers aiming to stand out.