While only\u00a050% of job seekers expect a recession in the next 12 months, and\u00a024% believe it will happen within six months, nearly\u00a0one in 10 (9%)\u00a0say we\u2019re already in one. These fears are driving significant changes in job search strategies:<\/p>\n
- \n
- 74% are concerned about finding a job during a potential or ongoing recession, with\u00a032% saying they\u2019re very concerned.<\/li>\n
- Concern is highest among those with household incomes under\u00a0$50,000\u00a0(82% versus 72%\u00a0for those earning more).<\/li>\n
- 73% worry that any job they accept now may be at risk if the economy worsens.<\/li>\n
- 71% feel the current job market forces them to settle for less than they\u2019re qualified for.<\/li>\n
- 51% are more concerned about job security than they were a year ago.<\/li>\n<\/ul>\n
Faced with economic uncertainty, job seekers are adapting in real time. Sixty-five percent of respondents say fear of a recession influences their willingness to negotiate salary or benefits. Many are changing their job search strategy, according to the survey:<\/p>\n
- \n
- 38% are more open to different work environments.<\/li>\n
- 31% are applying to roles outside their target industry.<\/li>\n
- 27% are applying to roles they\u2019re overqualified for.<\/li>\n
- 23% are willing to relocate.<\/li>\n
- 21% are more open to lower salaries.<\/li>\n<\/ul>\n
Additionally,\u00a065% believe contract and freelance work offer more control over their future than traditional full-time jobs.<\/p>\n
But despite widespread anxiety, the survey found that most employed job seekers still express confidence in their current employers:<\/p>\n
- \n
- 73% are confident in their company\u2019s ability to provide short-term job security, with\u00a028% very confident.<\/li>\n
- 69% are confident in long-term job security, with\u00a026% very confident.<\/li>\n
- However,\u00a074% say changes in government policies have a bigger impact on job security than decisions made by company leadership.<\/li>\n<\/ul>\n
\u201cIn times of economic uncertainty, job seekers should focus on adaptability and self-investment,\u201d Bob Funk Jr., CEO, president, and chairman of Express Employment International, said in a statement. \u201cExpand your search, sharpen your skills, and stay open to new opportunities\u2014even those outside your comfort zone. The most successful candidates aren\u2019t just looking for jobs; they\u2019re building resilience for whatever comes next.\u201d<\/p>\n
Illustration credit:<\/strong> Andry Djumantara\/iStock<\/p>\n
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