Despite recent headlines suggesting a return to the office, ZipRecruiter Economist Julia Pollack offers a clear cut verdict: remote work is here to stay. Pollak joined TheStreet to discuss the implications of this trend.
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Full Video Transcript Below:
CONWAY GITTENS: Can you tell me what are the job market job seeking hiring myths out there that you would like to debunk?
JULIA POLLAK: That's a good one. So I think there is a feeling out there that things are very gloomy. I see headlines saying things like entry level hiring is down 75% this year. That is just simply not true. If you look at employment rates for teens and young Americans, for example, they've been ticking upwards every month this year. And they're actually on track to be the highest since the Great Recession in May. And so it's simply not the case that people are sitting around not finding work. The job finding rate, the rate at which unemployed people are finding new jobs is about what it was before the pandemic. It is high and strong, so don't despair. The jobs may not be where you want them to be. They may not be where you first look, but have an open mind. There are lots of opportunities out there.
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CONWAY GITTENS: I do have one more question. Talk to me about hybrid and remote work. We've seen a couple of headlines where like, it's negative, where like, remote work is over, hybrid work is done. What are you seeing in terms of the postings on.
JULIA POLLAK: So that is another huge myth. So much attention is given to return to office. But if you look at surveys of workers and if you look at Castle Rock employee badge swipe data, remote work is flat as a pancake. It is fully, fully stabilized. Yes, you have some companies that are pulling back, but you have many other companies that are finally terminating that office lease once and for all and shifting to being fully remote. You have lots of new companies, start UPS, companies with under 100 employees, about 70% of those tech companies, those small startups are fully remote. So it's simply not true. Remote work is here to stay very resilient, stable as a pancake. We'll probably tick up in the coming years as companies just get better at doing it.
