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Business Insider
a day ago
- Business
- Business Insider
Here are the winners and losers in today's job market
The winners and losers of the workforce are coming into sharper focus. If you're looking for roles in healthcare or service work, you may have a very different experience than the white-collar workforce or new grads. Overall, the latest jobs data shows that the labor market isn't looking too shabby; the number of payrolls added in the Bureau of Labor Statistics' May report exceeded economists' expectations, and the unemployment rate held steady. But that doesn't mean all workers are navigating the labor market with ease. Instead, some are faring better than others. Cory Stahle, an economist at the Indeed Hiring Lab, said the new jobs report reflects that divide. "The headline number says the train keeps chugging along," Stahle said, "but at the same time, not everybody is experiencing that same thing." Here's who's winning in the job market right now A few industries stood out in the most recent jobs report. Employment in the private education and health services sector and the leisure and hospitality sector swelled. They alone accounted for over 100,000 new payrolls in May, and over the last three months have added around 374,000 jobs. In short, if you're trying to find a job in food service or home healthcare, the job market is in your favor. Other sectors that added roles in May include construction and retail trade, although not at the same clip. Daniel Zhao, lead economist at Glassdoor, said those service sectors have powered job growth, but "all of them have slowed in the first half of 2025 compared to the back half of 2024." There were also some winners in the white-collar world. Job-stayers — whether they still want to be there or not — are at least reaping some financial rewards. Average hourly earnings for workers in the information sector, which includes many aspects of tech, shot up from a year ago, as well as pay for those in professional and business services. For the white-collar workers who are waiting out the Big Stay, that's a win. Indeed, job stayers have a bit of a financial edge right now: Their raises are now slightly outpacing those of job switchers, per the Atlanta Federal Reserve, a big change from the days of the Great Resignation. Who's losing in the job market right now White-collar workers who are actively seeking a new role probably aren't feeling too hot; neither are new grads. Employment growth in the information sector has been nonexistent since February, while employment fell by 19,000 in professional and business services during that time. The job switching pay premium has evaporated, and companies are taking longer to fill available roles. One subsection of white-collar workers has reason to be especially nervous: Middle managers are getting flattened out of corporate structures in the name of efficiency. Then, of course, there's the bottom rung of the labor market: New graduates trying to land a full-time role. The share of recent college graduates with jobs that don't require a degree ticked up in March, according to the New York Federal Reserve's analysis. Similarly, that data shows recent college graduates ages 22 to 27 had higher unemployment rates compared to the larger 16- to 65-year-old workforce, a reversal from longer-term historical trends. "There's fewer people coming in, fewer people heading out," Guy Berger, the director of economic research at The Burning Glass Institute, said. "That mix tends to favor established workers who tend to be older and tends to hurt younger people trying to get their foot in the door." Stahle said college and high school graduates are entering a frozen labor market where the quits rate is low, people are staying put, and employers aren't really looking for new folks. "We're seeing unemployment rates rise most notably for those younger workers, college graduate-age workers — which is very different than what we've seen in the past, where those workers tend to do pretty well," Stahle said. Are you a job seeker, middle manager, or new grad with a story to share? Contact these reporters at jkaplan@ and .
CTV News
3 days ago
- Business
- CTV News
Summer job postings in Canada down sharply from last year: report
Canadian youth heading into summer are facing a chill in seasonal job searches as recently released data suggests a steep decline in postings traditionally aimed at students and entry-level workers. According to Indeed Hiring Lab, which examined job postings on its host website, their numbers revealed that as of early May, Canadian summer job postings were down 22 per cent compared to last year. Brendan Bernard, senior economist with Indeed Hiring Lab, told CTV's Your Morning on May 30 what's driving this downturn. 'We're seeing a real pullback in hiring appetite since the pandemic,' he said, adding that what was once a job seeker's market in 2022 has transformed into a challenging landscape for employment, particularly for younger workers. The slowdown is backed by Statistics Canada's April 2025 Labour Force Survey, which shows that youth aged 15 to 24 experienced a net employment loss of 28,000 jobs in April alone, with most of those losses concentrated among young women and in part-time roles. According to StatCan, the youth unemployment rate sat at 11.3 per cent in April, up from 10.4 per cent the previous month. Their data also revealed that 14.1 per cent of youth within this age group were without work in April, which is more than double the Canada-wide unemployment rate of 6.9 per cent. Sectors hit hard According to Indeed's data, postings in early May were down 32 per cent compared to 2024 for summer camp roles, including counsellors, managers and leads, which accounts for 10 to 15 per cent of summer postings. Other jobs like painters, lifeguards and customer service representatives also saw a dip in the same time period as 2024. 'The Canadian youth job market has been weakening pretty steadily over the past two years, and so we need a turnaround in the economy to get things goings,' Bernard said. But Bernard says there may not be a turnaround anytime soon, with more students off and looking for work. Data showed that while the number of people aged between 15 and 24 employed in July 2024 was roughly the same as the year before, the employment rate dropped. That's because the population in that age group grew by 7.2 per cent, but job growth didn't keep pace. The job market is experiencing what Bernard describes as a 'traffic jam' of employment opportunities, as experienced workers are holding onto seasonal roles and not jumping at the next opportunity, while new entrants struggle to find their first foothold. A recent report from CTV Toronto captures the human toll as several Ontario youth describe applying to dozens of jobs with no callbacks, while others said they lowered their expectations or took unpaid positions just to gain experience. One youth described it as a 'make-or-break summer.' Hope for the future Despite the challenging landscape, Bernard offers some advice. 'A down summer job market doesn't mean no summer job market,' he emphasized, suggesting that job seekers should ask themselves what they want out of a job. 'What's the goal for this job search and what kind of job both fits the person's interests and skills? What are you good at?' he said, adding that he encourages job seekers to explore job search platforms and learn on their personal networks – like friends, classmates and family – not just to find openings but to gather advice and insights. If landing a job proves difficult, he suggests using the time to build valuable experience in other ways, such as volunteering and learning new skills. With files from CTV Toronto's Alex Arsenych
CTV News
4 days ago
- Business
- CTV News
Summer job postings in Canada down sharply from last year: report
Canadian youth heading into summer are facing a chill in seasonal job searches as recently released data suggests a steep decline in postings traditionally aimed at students and entry-level workers. According to Indeed Hiring Lab, which examined job postings on its host website, their numbers revealed that as of early May, Canadian summer job postings were down 22 per cent compared to last year. Brendan Bernard, senior economist with Indeed Hiring Lab, told CTV's Your Morning on May 30 what's driving this downturn. 'We're seeing a real pullback in hiring appetite since the pandemic,' he said, adding that what was once a job seeker's market in 2022 has transformed into a challenging landscape for employment, particularly for younger workers. The slowdown is backed by Statistics Canada's April 2025 Labour Force Survey, which shows that youth aged 15 to 24 experienced a net employment loss of 28,000 jobs in April alone, with most of those losses concentrated among young women and in part-time roles. According to StatCan, the youth unemployment rate sat at 11.3 per cent in April, up from 10.4 per cent the previous month. Their data also revealed that 14.1 per cent of youth within this age group were without work in April, which is more than double the Canada-wide unemployment rate of 6.9 per cent. Sectors hit hard According to Indeed's data, postings in early May were down 32 per cent compared to 2024 for summer camp roles, including counsellors, managers and leads, which accounts for 10 to 15 per cent of summer postings. Other jobs like painters, lifeguards and customer service representatives also saw a dip in the same time period as 2024. 'The Canadian youth job market has been weakening pretty steadily over the past two years, and so we need a turnaround in the economy to get things goings,' Bernard said. But Bernard says there may not be a turnaround anytime soon, with more students off and looking for work. Data showed that while the number of people aged between 15 and 24 employed in July 2024 was roughly the same as the year before, the employment rate dropped. That's because the population in that age group grew by 7.2 per cent, but job growth didn't keep pace. The job market is experiencing what Bernard describes as a 'traffic jam' of employment opportunities, as experienced workers are holding onto seasonal roles and not jumping at the next opportunity, while new entrants struggle to find their first foothold. A recent report from CTV Toronto captures the human toll as several Ontario youth describe applying to dozens of jobs with no callbacks, while others said they lowered their expectations or took unpaid positions just to gain experience. One youth described it as a 'make-or-break summer.' Hope for the future Despite the challenging landscape, Bernard offers some advice. 'A down summer job market doesn't mean no summer job market,' he emphasized, suggesting that job seekers should ask themselves what they want out of a job. 'What's the goal for this job search and what kind of job both fits the person's interests and skills? What are you good at?' he said, adding that he encourages job seekers to explore job search platforms and learn on their personal networks – like friends, classmates and family – not just to find openings but to gather advice and insights. If landing a job proves difficult, he suggests using the time to build valuable experience in other ways, such as volunteering and learning new skills. With files from CTV Toronto's Alex Arsenych
Bloomberg
22-05-2025
- Business
- Bloomberg
Trump's Research Funding Cuts Create Job Drought for Scientists
US job openings in research and development are plunging as the Trump administration ramps up funding cuts to government agencies, private contractors and universities, leaving some of the nation's brightest minds scrambling to find work. Scientific research and development job postings are down 18% since President Donald Trump took office in January, compared to a 4% drop in overall vacancies in both the public and private sector, according to a report Thursday from the Indeed Hiring Lab. The decline was broad-based across the science sector, which also impacted data collection jobs and life sciences consulting.
Bloomberg
13-05-2025
- Business
- Bloomberg
Foreigners' Interest in US Job Postings Slumps in Indeed Data
The burst of foreign interest in US jobs following the Covid-19 pandemic has all but vanished, a shift that threatens to exacerbate labor shortages in industries such as health care. The share of clicks on US job listings coming from people outside the country was almost 30% lower in March than at its August 2023 peak, according to a report Tuesday from the Indeed Hiring Lab.
