What's happened
As of November 2024, job seekers in the US and Hong Kong face significant challenges. In the US, younger graduates are increasingly pessimistic about job prospects, while older workers struggle with ageism. In Hong Kong, a rise in 'slashers' reflects changing career paths among youth. The evolving job landscape highlights generational divides in work expectations.
Why it matters
What the papers say
According to Business Insider UK, recent surveys reveal that 57% of the class of 2025 feels pessimistic about entering the workforce, a significant increase from the previous year. Hiba Rizvi, a senior at Loyola University Chicago, expressed concerns about the job market, stating, "we have to not expect the best from the future."
In contrast, the South China Morning Post highlights a growing trend among Hong Kong youth to embrace multiple job roles, termed 'slashers.' This shift reflects a desire for flexibility and diverse income sources, as noted by Angela Yung Tak-man, who stated, "we won’t be surprised if more young people consider taking on careers as ‘slashers’ in the foreseeable future." This indicates a proactive approach to navigating a challenging job market, differing from the more reactive strategies seen in the US.
How we got here
The job market has been tightening due to economic uncertainties, layoffs, and a surplus of experienced workers. Recent surveys indicate a growing sense of anxiety among younger job seekers, particularly in the US, while Hong Kong's youth are adapting by pursuing diverse career paths.
More on these topics