As a new class of graduates enters the workforce, the labor market is showing a more measured pace. In April, overall hiring in the U.S. slowed for a fourth consecutive month. Hiring is down 8.5% year-over-year, and 27% below pre‑pandemic levels. But there’s a notable shift, particularly amongst Gen Z workers. While younger workers remain the least confident group when it comes to getting or keeping a job, their outlook is improving. Confidence in finding a job is up 9 points and career progression up 8 points over the past year—making Gen Z the only generation gaining confidence right now when it comes to job prospects. Taken together, these trends point to a labor market that's more cautious, but also one where early‑career talent is adapting quickly and building confidence in how to navigate it. Staying adaptable, building in‑demand skills, and keeping an open mind on roles and industries matters more than ever. For more insights on labor market health, please follow and see this post from my colleague Kory Kantenga, Ph.D. https://lnkd.in/g2jkic_a
This is good news for Gen Z! Do we have any hypotheses on what's driving their confidence boost?
"Staying adaptable, building in‑demand skills, and keeping an open mind on roles and industries matters more than ever." 💙 Love this, Karin Kimbrough.
Gen Z is the only generation gaining job confidence right now. They didn't wait to be handed a career. They built one. New skills. New industries. New rules made by them. Are you adapting as fast as they are?
The 27% below pre-pandemic baseline is the data point that stops me, because it suggests the market has structurally re-priced rather than just cooled. We see this on the HR Tech buyer side, the orgs that grew headcount aggressively in 2021-22 are now budgeting at roughly 60% of that peak as their new normal, not as a temporary pullback. The Gen Z confidence rise is the surprising part of the data, because they're also the cohort most exposed to AI substitution at the entry level. The most plausible reading is that Gen Z is adapting by going non-traditional faster (creator, agency, self-employed) rather than waiting for legacy entry-level seats to reopen. Curious whether the LinkedIn data separates confidence in 'finding a job' from confidence in 'finding a traditional W-2 first role', because the gap there would tell us a lot.
This post seems to contradict the article it references. Most of the news seems positive. Am I misreading? From the referenced article: "The JOLTS Hiring Rate rebounded in March to its fastest pace since May 2024 after a sharp decline in February, with notable slowdowns in Accommodation and Food Services, Professional and Business Services, and Transportation, Warehousing, and Utilities."