A rise in retirements and reduced immigration could ease job hunting for some Americans this year
US businesses are hiring less than they have in a decade, except for a little dip during the pandemic. So, while there might be fewer people competing for jobs, it’s still tough out there.
Cory Stahle, an economist, mentioned that this could make it a bit easier for people looking for skilled labor jobs. But don’t get too excited; it’s still going to be harder than it was during the hiring boom a couple of years ago.
With about 1.1 million baby boomers retiring last year and another 2 million expected this year, the job market is shifting. Many older workers are finally deciding to hang up their boots, especially those in their mid-60s.
Stahle also pointed out that if the new administration follows through on stricter immigration policies, we might see a real impact on the job market sooner than expected.
But here’s the catch: while fewer workers might help some find jobs, it could also hurt the economy. A smaller workforce could lead to inflation and slow growth, which isn’t great for anyone in the long run.
So, while some might get lucky in their job search, it’s a bit of a gamble for the overall economy. Let’s see how this all plays out!
