The Big Freeze: How economic uncertainty is impacting workplaces and careers
People aren’t quitting, companies aren’t hiring, and workers are feeling frozen.
This article originally appeared on LinkedIn. Christine DiDonato is an Advantage thought leader partner, president and founder of Career Revolution, and creator of the AccelerateME career development program. An expert and author, she is also a sought-after keynote speaker.
A few weeks ago, I came across this article from The Atlantic, The Job Market is Frozen by Roge Karma.
Reading it, I realized it addressed everything I hadn't been able to put into words quite yet.
The labor market looks healthy on the surface (according to headlines, unemployment rates are low). Much like an iceberg only shows a tiny percentage of its mass, there's a lot going on beneath the surface—and it's not pretty.
However, you don't need to look too far (especially on LinkedIn) to find that folks, especially in white-collar professions, have been job-searching for months.
Many job seekers, particularly new grads and mid-career Roge Karma are finding fewer opportunities, longer job hunts, and stalled career momentum.
The quieter folks are staying frozen, holding on to positions they may have outgrown for fear of entering the job market at all.
Employers are cautious. Uncertainty around the economy and politics has made hiring riskier. The result? People aren’t quitting, companies aren’t hiring, and workers are feeling frozen.
I made this infographic to put this chilling scenario in visual form:
Investing in your own career development matters now more than ever
Whether it’s upskilling, networking, career coaching, or taking on stretch projects, growth won’t come from the market alone. In fact, the market has undergone so many changes in the past few years that our methods might need to change, too.
At first, this seems really scary. And it is! If you've felt stuck lately, it's not just you, and it’s not a sign you’re doing something wrong. But it is a sign to take your career growth into your own hands.
We'd love to hear your thoughts (add your comment to Christine's LinkedIn post here) on the job market—whether you're in the midst of a job search, feeling "frozen" in your position, or you're a leader looking to motivate your employees.
AccelerateME is a career development program that can empower your employees by putting them in charge of their career path. It helps them get "unstuck" while also increasing employee engagement and retention. Contact us or talk to your Advantage partner about bringing the AccelerateME to your organization.
- The Big Freeze: How economic uncertainty is impacting workplaces and careers - April 21, 2025
- Building a career village: Take note of the people in your life who make an impact - February 4, 2025
- A lateral career move: 5 reasons to welcome the opportunity - August 2, 2024