As of November 2024, the most recent report of the Bureau of Labor Statistics available, the job market is remaining fairly stagnant. That is not necessarily a bad thing: more than eight million jobs remain open and on the market. That is a good sign for job seekers overall, but it also has some interesting tells about the state of the market in general. Let’s dive into what that could mean for 2025.
How to Read the 2025 Job Market
In 2024, the job market saw a worsening pace than in the previous couple of years. Overall, the 2025 job market looked like it was fairly stable and within the past decade’s reasonably predicable market. As of October 2024, approximately 4.6 percent of all jobs in the United States were still unfilled.
But what does that mean for the average job seeker? Well, first of all, that does not mean there is a 5 percent unemployment rate, nor does it mean that no one wants to work. Rather, it means that there is potentially a labor shortage in the nation across industries. That 4.6 percent unfilled job rate is actually a good sign in many ways. The previous 12 month average saw a 5 percent unfilled job rate. The decrease of .4 percent, while small, means that hiring did occur in 2024 – that is fantastic news for the job market and those in it. What is more troubling, potentially, is that there has been a stagnation of growth.
Will the 2025 Job Market Continue to Stagnate?
Well, that’s a difficult question to answer. For the first few months, as we all settle into the new year, proceed with the presidential transition, and continue to recover from the typical holiday shutdowns, it seems likely that there will be a continuation of stagnation. That said, once people and companies get back on their feet, the sky is the limit, potentially. Many notable job influencers are predicting various outcomes of the 2025 job market, but the short answer is that we cannot know what the future holds.
According to the World Economic Forum, there are potentially massive growth opportunities for a variety of industries, while several will likely shrink as well. That has been a typical projection for decades and has remained true much of the time.
What Should You Do?
The best thing for you to do is not panic. If you are able to and stable enough to manage it, the best advice is probably to remain as you are for now. Jumping around between jobs is unlikely to occur in the first place, but if it does, it will probably be frowned upon. If just starting out, get your foot in the door in anyway possible. Perhaps an internship or part-time job would be good, but whatever it is, don’t let the predictions of pontificators get you down.
