Despite the positive reports about job growth, many workers have found that it’s a tough time to be looking for a new job. If you’re having trouble finding work, you’re not alone. The Labor Department just shared its latest data on jobless claims, and while there was a drop in the number of new claims, recurring applications for unemployment benefits have continued to rise.
Last week, the number of new jobless claims decreased by 6,000 to 233,000, as compared to the week prior. But as of June 15, the share of people collecting unemployment benefits on a recurring basis had ticked up yet again to 1.84 million Americans, in line with a steady increase over the previous eight weeks. The total number of recurring claims is also the highest it has been since November 2021. (The number of new and recurring jobless claims are, however, lower than those prior to the pandemic.)
For months, economists have anticipated a shift in hiring and employment gains, even as jobs reports continue to be strong. This new data indicates that it’s taking people longer to find a job, which aligns with reports from workers who say they’re receiving fewer job offers and struggling to navigate lengthy hiring timelines. Recent data from ZipRecruiter and Indeed also supports those claims, finding that it took longer for workers to get hired in early 2024 than in late 2023 or during the Great Resignation. Even as plenty of companies continue to hire, there seems to be a mismatch between what employers are looking for and what workers want out of a job.
In the meantime, workers are left to weather the shifting dynamics of the labor market. Many of them are likely relying on tried-and-true tips like tapping into your network and revamping your LinkedIn profile. But faced with stiff competition from other job seekers and laid-off workers, some people are looking for new ways to stand out, even resorting to paying “reverse recruiters” to help navigate the job market—a strategy that may grow more appealing if unemployment keeps inching up.
