In an unpredictable labor market, employed U.S. job seekers are increasingly concerned about not receiving the salary increase they deserve, with fears of job loss before finding a new position rising. A recent Express Employment Professionals-Harris Poll survey sheds light on these growing concerns and shifts in workforce priorities.
- Rising Job Market Concerns:
- Increased Fear of Job Loss: The fear of losing one’s job before securing a new position has grown from 24% in Spring 2023 to 31% in the latest survey, reflecting a more competitive job market.
- Top Job-Seeking Motivations: Employed job seekers primarily seek new opportunities for better compensation (46%), improved work/life balance (41%), and better growth opportunities (41%).
- Educational and Employment Trends:
- Degree Impact on Job Search: Those with a four-year degree are more likely to seek better compensation (53%) and stay alert to job market changes compared to those with less education.
- Job Preferences: Most job seekers prefer full-time positions (83%), while fewer are interested in part-time (36%) or contract/freelance roles (27%).
- Unemployment and Reasons for Leaving:
- Extended Unemployment: About 32% of unemployed job seekers have been out of work for over two years.
- Reasons for Leaving: Common reasons for leaving include quitting due to health conditions (32%), or seeking better pay (30%).
- Job vs. Career Perspective:
- Employment Tenure: Employed job seekers have averaged seven years at their current company, with 21% staying for over a decade.
- Job vs. Career: Over half (55%) view their employment as a job rather than a career. Gen Zers are particularly likely to describe their work as merely a job (74%).
- Personal Reflections: Job seekers describe their work experiences:
- As a Job: “The only benefit I get from the job is a paycheck.” – 37 year-old male job seeker
- As a Career: “The work I do matters. I help people every day.” – 34 year-old female job seeker
The survey highlights a notable shift in how employed job seekers view their work and career prospects. With growing concerns about job security and compensation, individuals are increasingly focusing on finding roles that offer personal fulfillment and growth. Bill Stoller, CEO of Express Employment International, emphasizes the importance of reskilling and pursuing meaningful careers amidst these evolving priorities.