Amid growing fears of a looming recession, American workers are hitting the brakes on job hopping.
The job market, which once buzzed with opportunity, is now showing signs of a slowdown, leaving many feeling stuck in their current roles.
For job seekers, the landscape is getting tougher. Hiring has slowed, job boards are drying up, and the once vibrant job market now feels stagnant.
This shift has led to a rise in what some are calling “stuck” workers—employees who want to quit but feel trapped by the fear of an impending economic downturn.
Amanda, a 24-year-old histology technician, is staying in her current job not out of loyalty, but out of necessity. “I feel trapped here,” she told Business Insider.
“I’m financially screwed if I leave, and that’s why I don’t, or can’t leave.” The thought of a pay cut, likely slashing her income by a third, keeps her rooted.
This feeling of being stuck isn’t new, but it’s growing. According to the Bureau of Labor Statistics, Americans are quitting their jobs at the slowest rate since the pandemic, with the quits rate dipping to 2.1% in July.
At the same time, job satisfaction is declining, with a recent Conference Board survey noting decreases across 26 different measures of job contentment.
Online, the sentiment is clear. Google searches for “quitting job” have dropped 11% over the past year, while searches for “stuck at work” have ticked up 9%, according to Glimpse.
On the subreddit r/hatemyjob, membership has more than doubled in two years, reaching 30,000 by August. One user wrote, “I’m no longer fond of the work I do. I feel stuck because of the money.”
Economic uncertainty looms large, with recession fears casting a long shadow over workers’ decisions.
Historically, recessions have seen sharp declines in the quit rate, as shown by Federal Reserve data. While the economy hasn’t officially tipped into recession, many Americans think otherwise.
A survey by Affirm found that most believe the economy is already in a downturn, despite GDP growth in the second quarter.
Glimpse data reveals that searches for “recession” have surged 230% in the past month.
Raymond Lee, CEO of Careerminds, a career outplacement firm, captured the mood: “I wouldn’t say we’re in a recession, but there’s a lot of uncertainty. People are trying to stay where they are and not make any big moves.”
Korn Ferry, a consultancy specializing in career transitions, reports a spike in calls from job seekers—a stark contrast to the post-pandemic hiring boom.
Radhika Papandreou, president of Korn Ferry’s North American arm, sees this as a clear sign that the “engine is slowing down.”
Clients are taking longer to land new roles, with job security now a top priority. “People are hesitant to leave their jobs unless they know they’re moving to something secure and long-term,” she explained.
The outlook for hiring remains bleak, even if the Federal Reserve eases monetary policy.
Only 15% of small businesses plan to add new jobs, according to a National Federation of Independent Business survey, down from over 30% just a few years ago.
As the fear of being “last in, first out” grips the workforce, U.S. workers are choosing safety over risk, staying put in jobs that may no longer satisfy, but at least feel secure.
You May Also Like:
