Get the latest tech news

Workers are stuck in place because everyone is too afraid of a recession to quit

America’s job market is in a bind. That’s probably no surprise to current job-seekers, who are having an increasingly tough time landing a new gig as hiring slows and job boards run dry.

The stagnation has resulted in a rise in “stuck” workers — frustrated employees who say they want to quit a job, but are staying put as the fear of a potential recession looms in the backs of their minds. In markets, investors panicked last week, sparking a huge sell-off after July payrolls were lower than expected, with the unemployment rate ticking up to 4.3%. That’s the opposite of what the firm saw during the post-pandemic hiring boom — and it’s a solid sign the “engine is slowing down,” according to Radhika Papandreou, the president of the Korn Ferry’s North American arm.

Get the Android app