Job seeker confidence lowest since Q1 2022
Job seeker confidence lowest since Q1 2022
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Job seeker confidence measured in ZipRecruiter’s Job Seeker Confidence Index fell to its lowest level this quarter since the index launched in the first quarter of 2022.
The index fell to a level of 90.2 this quarter from a reading of 93.1 in the second quarter. ZipRecruiter’s report found that 41% of job seekers said it is now much harder to find a job.
Many job seekers were downbeat on the job search as well; 43% said their job search is going poorly, while only 13% said it was going well — the widest gap since the first quarter of 2022.
“A slowing labor market is weighing on job seekers and their finances,” Julia Pollak, ZipRecruiter chief economist, stated in the report.
Other findings include:
- 53% of job seekers said there are fewer opportunities compared to six months ago.
- 34% have expanded their job search outside their usual field.
- Half of job seekers have not seen pay increases since the Great Resignation and 19% said their pay has actually decreased.
- 42% of job seekers have lowered their salary expectations.
- 64% of job seekers feel they must accept the first job offer due to financial pressures, up from 50% in the second quarter of 2022.
In terms of type of roles, the report found 40% of job seekers preferred permanent, long-term positions, 8% sought contract or freelance roles and 7% sought temporary or seasonal positions. A large share, 45%, were open to any kind of role.
ZipRecruiter’s data is based on an online survey of more than 1,500 job seekers taken between the 10th and 16th of the second month of each quarter and weighted to the US Census Bureau’s American Community Survey. Qualtrics conducts the survey for ZipRecruiter.