-
Why is long-term unemployment rising in the US now?
Long-term unemployment is increasing due to economic uncertainty, companies hesitating to hire, and layoffs driven by technological shifts like AI. Despite low overall unemployment, many workers remain jobless for extended periods, often because employers are cautious about hiring in a shaky economy.
-
What does rising long-term unemployment mean for workers?
Extended periods without work can impact workers' mental health, financial stability, and future job prospects. It can also lead to skills becoming outdated, making it harder to re-enter the workforce quickly.
-
Are companies hiring or holding back?
Many companies are holding back on hiring due to economic uncertainty and fears of a slowdown. While some sectors still hire, overall, employers are cautious, leading to fewer new jobs and longer searches for unemployed workers.
-
How does economic uncertainty affect job prospects?
Economic uncertainty makes companies hesitant to expand their workforce, which means fewer job openings and more competition for available roles. This environment can prolong unemployment periods and make job searching more stressful.
-
What strategies can long-term unemployed workers use to find jobs?
Workers facing long-term unemployment can consider broadening their skills, exploring temporary or gig work, and networking more actively. Updating resumes and seeking retraining opportunities can also improve chances of re-employment.
-
Is the US economy heading for a recession?
While some indicators suggest economic slowdown, experts are divided on whether a recession is imminent. However, ongoing uncertainty and cautious corporate behavior point to potential challenges ahead for the job market.