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Business Insider
14-06-2025
- Business
- Business Insider
The Big Stay is finally paying off: Quitting to job-switch is worse for wage growth than sticking it out
It's time to let go of Great Resignation FOMO. Typical year-over-year wage growth for job stayers has surpassed that for those quitting and switching roles. While it's a small gain at this point, you can see in the chart below that it's an extremely rare event and hasn't happened for a sustained period since 2009. Plus, it's a big turnaround from July 2022, when the gap was 8.5% vs. 5.9% in favor of job switchers. It speaks to how hesitant companies have become to hire; when they do decide to bring someone on board, they don't need to shell out a big raise to seal the deal. As a result, the white-collar workers who held tight to their jobs have become the sector's upper class: They're benefiting from low layoffs and robust wage growth. For those who both switched during the Great Resignation and have hung on to their new role ever since, that might be an economic double whammy — they cashed in at that higher salary and have been sitting pretty since. On the other end of the spectrum are white-collar workers who are out of work and looking, at a time when US businesses are hiring at nearly the lowest rate since 2014, excluding an early pandemic plunge. So you may be wondering: Is it a good time to switch jobs or not? Cory Stahle, an economist at the Indeed Hiring Lab, sums it up. "If the right job comes up, one that moves you forward in your career and gives you a healthy raise, certainly consider taking it," he said. "If not, there is at least some assurance that staying put still provides decent pay increases right now." Have a story to share about your job or job search? Reach out to these reporters at mhoff@ and jkaplan@ Job stayers are the new white-collar upper class In contrast to the years of the Great Resignation, when job stayers were leaving money on the table by not hopping to a new company, the Big Stay has finally started paying off for those who are staying put. In May, white-collar-dominated industries had robust wage growth over the year. Average hourly earnings increased 6% from a year ago in the information sector, which includes broadcasting, telecommunications, and data processing. Professional and business services, such as the management of companies and enterprises, legal services, and computer system design services, had wage growth of about 5%. According to an analysis from the Federal Reserve Bank of Atlanta, median wage growth for job stayers across all industries has outpaced growth for job switchers since February. The Big Stay seems here to stay for the time being — white-collar folks aren't leaving their jobs. Even if they're no longer enjoying their work, some see it as better than facing a long stretch of unemployment or an uncertain job market. And, financially, it's paying off. "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." Job seekers are trading down in title and pay On the other side are the white-collar job seekers. The things that make the market relatively pleasant for job stayers are working against the job seekers: Employers are running leaner in the face of economic uncertainty and would rather rely on the talent they have. Job stayers may be worried about their chances of getting a different job and aren't vacating roles. "As white-collar industries reverse some of that pandemic hiring and also pull back on hiring amid economic uncertainty, it's getting tougher to find a job," Daniel Zhao, lead economist at Glassdoor, told Business Insider. Glassdoor data last year showed that a growing percentage of workers switching employers were accepting lower-paid roles, especially in tech. Zhao said that's because, "Many job switchers today were involuntarily laid off, resulting in more workers having to settle for a lower-paying or lower seniority job." Berger said that in addition to weak hiring leading to fewer opportunities, there are also more people with a college education, which means more competition for jobs. "It's also possible that in some segments AI is slowing demand for white-collar workers, though I doubt this is as big as some people think," Berger said. There's some good news in professional and business services, where the hiring rate continues to be strong and has been trending upward, although it's still below its late 2021 high, and the sector has had several monthly net employment losses over the past year. The information sector's hires rate is still low compared to the overall hires rate, but has climbed somewhat. Hiring in financial activities is lower than in the other two traditionally white-collar fields. Job seekers are already lowering their expectations: The average lowest wage all workers would accept for a new job plummeted from $82,000 in November 2024 to $74,000 in March 2025. Among those with college degrees, it fell from $102,000 to $95,000 in the same period. And the share of graduates in jobs that don't require a degree ticked up for recent graduates in the first quarter of 2025, indicating that degree holders are overqualified for more roles. "White-collar industries like finance, tech, and consulting are still appealing, especially for new grads, because of their promise of rapid career growth and high pay," Zhao said. "But that promise of career growth and high pay is becoming less attainable and more exclusive due to the soft hiring environment."
USA Today
10-06-2025
- Business
- USA Today
Most job switchers are making a change in career: Top 5 fields they're leaving.
Most job switchers are making a change in career: Top 5 fields they're leaving. Show Caption Hide Caption Bolster these work skills amid the AI boom With new college graduates entering the workforce, these are key skills employers will look for amid the AI boom. Nowadays, when Americans switch jobs, they're not just making changes around the edges. Sixty-four percent of workers who switched jobs from 2022 to 2024 also changed careers, according to an Indeed study of 35 million profiles on the leading job site. Among the fields workers left at the highest rates: hospitality, and arts and entertainment. Those fostering the most loyalty: nursing and software development, Experts largely attribute the trend to shifts that took root during the COVID-19 pandemic, which triggered 22 million layoffs as well as new perspectives about work. On a practical level, the health crisis spawned unprecedented labor shortages that allowed workers to hop among jobs for better pay, benefits and less tangible rewards. 'People could really change jobs if they wanted to,' said Allison Shrivastava, an economist with the Indeed Hiring Lab, the job site's research arm. As a result, she said, 'There was a lot more opportunity for people to change careers.' How did COVID-19 affect the workforce? COVID-19 also sparked deeper transformations. During the crisis, many workers burned out as they toiled long hours to fill in for idled colleagues or grew more aware of life's fragility. That spurred a desire among many Americans for better work-life balance, remote or hybrid work set-ups and greater job fulfilment. 'People really started wanting to align their careers with their personal visions and values,' said Toni Frana, a career expert with FlexJobs, a job search site specializing in remote and hybrid jobs and roles with flexible hours. While the job-hopping frenzy known as the Great Resignation has faded along with the pandemic, the fresh attitudes about career fulfilment and work-life balance seem to have endured. According to a FlexJobs survey for USA TODAY in February, 24% of Americans said they tried to change occupations the previous year, 6% did so and another 39% said they're looking to make a switch this year. That's nearly 70% of workers changing careers, according to the online survey of 2,293 respondents, conducted by SurveyMonkey. What are the reasons for career change? The top reason: to work remotely, cited by 67% of respondents, followed by better work-life balance (52%), more meaningful or fulfilling career (48%) and higher pay (48%), the FlexJobs poll revealed. Neither Indeed nor FlexJobs has previous data on the share of career switchers years ago. But Labor Department figures suggest the practice was less common. In January 2024, workers had been with their current employer a median of 3.9 years, down from 4.1 years in January 2022 and the shortest median tenure since January 2002. Generally, the fewest workers switch from and to occupations that require formal credentials, licenses, training and specialized skills, according to Indeed. And there's more turnover in fields with lower entry barriers and, typically, lower salaries. Here are the top five occupations Americans left from 2022 to 2024, according to the Indeed survey: Hospitality and tourism Share of workers leaving in the two-year period: 91%. Key reason: There's not much upward mobility in the field, Indeed's Shrivastava said. Do you work for a great organization? Nominate it as one of America's Top Workplaces. And many workers are in lower-wage positions that have long hours and unpredictable schedules, according to Payactiv, a financial services company. Arts and Entertainment Share of workers leaving in the two-year period: 86% Key reason: Jobs such as actors and authors are appealing but the chances of success are low. 'A lot of people may try their hand at it' but then leave for more stable occupations, Shrivastava said. Child care Share of workers leaving in the two-year period: 86% Key reason: The field can be rewarding. But, 'It's a lot of work for not a lot of pay,' Shrivastava said. During the pandemic, the sector laid off or furloughed 373,000 employees, or 36% of its workforce. Logistics support Share of workers leaving in the two-year period: 86% Key reason: Supply chain troubles during the pandemic led many logistics workers to quit for better pay and less stress, according to Intelligent Audit, a logistics company. Personal care and home health Share of workers leaving in the two-year period: 86% Key reason: While the job can be rewarding, many people leave because of low pay, long hours and inconsistent schedules, according to CareVoyant, which makes software for the industry. Here are the bottom five fields workers left from 2022 to 2024: Nursing Share of workers leaving in the two-year period: 28% Key reason: There's lots of demand for nurses, wages have risen and few nurses leave once they've invested the time and money to earn nursing degrees, Shrivastava said. Software development Share of workers leaving in the two-year period: 37% Key reason: Software developers have relatively high salaries and job satisfaction levels, Shrivastava said. It's also a low-stress job with good work-life balance, according to U.S. News rankings. Dental Share of workers leaving in the two-year period: 38% Key reason: The pay is good, the investment in schooling is significant and skills aren't transferable to other occupations, Shrivastava said. Therapy Share of workers leaving in the two-year period: 51% Key reason: Occupational therapists and speech pathologists earn a comfortable living and have high job satisfaction levels, Shrivastava said. Accounting Share of workers leaving in the two-year period: 52% Key reason: Accountants have specialized skills, stable work environments and good work-life balance, Shrivastava said.
Business Wire
09-06-2025
- Business
- Business Wire
Indeed Appoints James Whitemore as Chief Marketing Officer
AUSTIN, Texas--(BUSINESS WIRE)-- Indeed, the world's #1 job site and a leading job matching and hiring platform, announced the appointment of James Whitemore as Chief Marketing Officer, effective today. Whitemore will join Indeed's senior leadership team and report to Chief Revenue Officer Maggie Hulce. In his role as CMO, Whitemore will lead Indeed's global marketing organization, overseeing brand, industry, category, lifecycle, country and field marketing, in addition to global communications and the Indeed Hiring Lab. His focus will be on reaching and engaging with job seekers and employers around the world, and showcasing how Indeed is making the hiring process simpler, faster, and more human. 'James brings a strong track record of helping business customers thrive through innovative, customer-first marketing,' said Hulce. 'As we continue to deliver on our mission to help people get jobs and simplify hiring for employers, James will play a vital role in shaping how the world sees and experiences Indeed—and how we create value for the businesses we serve.' Whitemore brings over 25 years of strategic marketing and sales leadership experience to Indeed. He most recently served as Chief Marketing & Growth Officer at Celigo, a leading cloud integration platform, where he oversaw the marketing and sales strategy to accelerate growth and expand the company's presence in a rapidly growing market. Prior to that, Whitemore was CMO and EVP at data storage provider NetApp, where he launched an award-winning integrated digital marketing strategy that resulted in rapid growth of its Public Cloud business. In addition to serving in executive leadership positions at IBM Europe and Intrado, Whitemore spent nearly a decade leading the marketing functions at Sun Microsystems Storage Products Group. 'I've long admired Indeed's commitment to connect people to opportunity and help employers find the right talent,' said Whitemore. 'As Indeed continues to lead with AI-powered innovation to transform hiring, I'm excited to help more job seekers and employers unlock the full value of Indeed — especially by harnessing our unmatched data, insights, and sister brands like Glassdoor and Indeed Flex to create smarter, more meaningful connections.' Learn more about Indeed's senior leadership team. About Indeed More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world (Comscore, Total Visits, March 2024). With 610 million Job Seeker Profiles, people in more than 60 countries across 28 languages come to Indeed to search for jobs, post resumes, and research companies. Over 3.3 million employers use Indeed to find and hire new employees. Indeed is a subsidiary of Recruit Holdings, a global leader in HR technology and business solutions that is simplifying hiring and transforming the world of work.
Business Insider
07-06-2025
- 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
05-06-2025
- 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
