Callum Borchers
speaker
1,301 appearances
20 recordings
1 series
first heard Jun 2022
last heard Jan 2025
Callum Borchers’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Why Some People Still Can't Find Work in a Strong Job Market · 8 May 2024
podcast
Well, you'd have to say the pendulum has swung back toward the bosses, maybe not all the way to their full control, but certainly more toward a middle ground that we would have seen before the pandemic.
And I hear it all the time from job seekers or even people who aren't actively looking.
But they tell me I used to get inbound requests from recruiters.
It felt like I could snap my fingers a couple of years ago and get another offer.
And they just don't feel that way anymore.
It's a little bit hard to measure, but you do see this in something called the employer to employer transition probability.
It's a very nerdy term, but the Philadelphia Fed keeps track of that.
It's basically how many workers jump from one job to another.
It's kind of a proxy for your opportunity to find something better.
And only one out of 50 American workers did this last month.
And that's down from, say, like one in 37 would have been typical during the economic recovery from the pandemic.
So it's a meaningful decline.
The thing I hear from workers, it's how the process has changed.
They tell me they're getting ghosted by hiring managers who suddenly feel like they have the pick of the litter.
Or they complain that companies are drawing out the interview process.
They go through three, four, five rounds of interviews.
They get assigned projects and presentations to do.
It takes forever.
Some also gripe about seeing the same job listings reappear over and over on a company's job board.
And they wonder, are you actually filling this position or are you just sort of putting it out there and fishing for candidates or stockpiling resumes for later?
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