Americans struggle to switch jobs as U.S. job market cools

Bloomberg

U.S. workers are having a harder time switching jobs than they expected. 

That's the takeaway from a new Harris Poll study that examined job seekers' recent experiences with the labor market, which is still strong but starting to show cracks. More than 70% of those looking for a new role said it was more difficult than they had anticipated. 

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As the Federal Reserve raises interest rates to combat inflation, the U.S. economy is showing mixed signals. Businesses reported strong hiring and wage increases last month, but unemployment is ticking higher and firms including Twitter, Intel and Lyft are cutting staff.

For those on the ground, the current economic conditions are surprisingly challenging — a big change from this time last year when workers had all the leverage

More than a third of employed Americans are looking to change roles, according to the Harris Poll. Yet about 72% of job seekers say that companies are acting like they don't want to hire anyone, since they're ignoring applications and not scheduling interviews. 

Read more: 5 things employers do that annoy job seekers

About two-thirds of those looking for a new job say they regret not starting the search sooner. A similar percentage think it would have been easier to change roles a year or two ago. 

The process has been long and daunting for many. More than six in 10 say they've searched for a new job for over six months, and nearly half report applying to more than 50 positions. 

The survey was conducted online from Nov. 4 to Nov. 6 among a nationally representative sample of 2,007 adults.

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