Lately, the headlines have been filled with news of layoffs, especially for federal employees and tech workers. Depending on your field, however, your job may not be at much risk of hitting the chopping block. And if you’re looking for a new role, your prospects may be closely tied to your corner of the market. For some job hunters, finding work can take months.
When it comes to unemployment, the figures started the year looking good, with the overall unemployment rate at a low 4% in January. But unemployment data is only part of the story. Although layoffs haven’t been widespread across industries, there are fewer job openings, says Harry Holzer, senior fellow in economic studies at the Brookings Institution and an economist at Georgetown University.
