The labor market has shown signs of slowing, with the unemployment rate increasing by 0.5% since June 2023 to just over 4%. While not high by historical standards, this translates to 800,000 more Americans out of work compared to last year. Additionally, jobless claims have risen, indicating an increase in layoffs.
A recent survey conducted by ResumeBuilder.com revealed that many workers are prepared to take significant measures to avoid being laid off. The survey included responses from over 1,200 workers.
Carl Van Horn from the Rutgers Center for Workforce Development commented on the situation: “Many people live one paycheck away from being in really bad financial situations.” He further explained that families striving to improve their economic status might also be at risk. “People may have made investments that, if they lose their job, they may lose their car, they may lose their house,” he said.
