The USA job market is facing tough challenges. Companies are hiring slowly, making it harder to get a job, primarily for recent graduate-level positions.
Some of the challenges facing the USA job market are:
- The Federal Reserve's inflation control measures, mainly raising interest rates, have reduced the company hiring processes as companies hesitate to borrow money.
- Hiring has slowed down, resulting in a no-hire, no-fire situation.
- Competition for jobs has increased, especially in professional and tech jobs, with more demand for applications per position.
- A lack of digital, technical, and trade skills results in higher costs and lower productivity.
- The growth and advancement of AI and automation are impacting the job market in the US. While some new jobs are being created, some are being affected by AI and automation.