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RE: LeoThread 2024-12-25 01:23

in LeoFinance • 7 days ago

The Job Market Paradox

The current job market in America is characterized by 9.6 million job openings, yet many people are struggling to find employment despite the high demand for workers. This paradox can be attributed to various factors, including the way job openings are calculated and the strategies companies use to attract top talent.

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7 days ago in LeoFinance by
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     7 days ago  

    Misleading Job Opening Numbers

    • 📊 The number of job openings is calculated using a survey of 20,000 business establishments, which may not accurately reflect the actual number of available jobs.
    • 📰 Companies often leave job listings up even after a position has been filled, contributing to inflated job opening numbers.
    • 📈 Amazon, for example, had a staff turnover rate of 150% last year, resulting in 2.4 million new hires, but only one-third of new hires stayed with the company for more than 90 days.
    • 📊 The company's web services utility computing team posted 25,000 job openings in 2022, but only 7,800 were actually approved to be filled.
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       7 days ago  

      Ghost Jobs and Their Impact

      • 👻 Companies post ghost jobs, which are job openings with no intention of being filled, to build a database of potential candidates, gather business intelligence, and appear more attractive to investors.
      • 📊 According to a survey, more than 60% of job postings have been active for over two months, despite 96% of employees claiming they are actively trying to fill the position.
      • 🙅‍♂️ Job seekers can spend hundreds of hours applying for ghost jobs, only to be rejected or ignored.
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         7 days ago  

        Changing Job Market Dynamics

        • 💻 The rise of remote work has led companies to post the same job in multiple cities, making it seem like there are more job opportunities than there actually are.
        • 📊 People are now more likely to switch jobs every two years or more, earning 50% more than those who stay loyal to one company.
        • 📚 Employees are forced to seek out skills and qualifications on their own to remain employable, as companies are less likely to invest in training.

        The Rise of Entrepreneurship

        • 🚀 Over 5 million businesses were created in America last year, with many people choosing to work for themselves rather than pursue traditional employment.
        • 📈 Platforms like Etsy, Amazon, eBay, Uber, Fiverr, and YouTube have made it easier for people to start their own businesses and work independently.
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