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Workers want to change jobs in challenging employment market

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Millions of workers embarked on job-hopping journeys, enticed by plentiful opportunities and substantial pay raises offered by companies eager to hire.

However, the landscape for salaried, white-collar positions has cooled since then, but the desire for change among workers remains fervent.

A recent LinkedIn survey of 1,000 U.S. professionals indicates that approximately 85% are contemplating a job switch this year, a significant increase from the 67% recorded a year earlier.

Job seekers actively exploring new opportunities are discovering that their leverage in negotiations has diminished compared to the recent past.

Data from job boards suggest that companies are now extending less generous compensation packages and reduced flexibility to new hires.

Negotiations over benefits like additional vacation time are also seeing stricter limits imposed by employers.

Job offers

However, securing an offer has become more challenging for many, especially in white-collar fields like finance, marketing, and software development.

According to data from Indeed, the number of job listings in these sectors has fallen below pre-pandemic levels.

On LinkedIn, there is now one job opening for every two applicants, a noticeable shift from the situation a year ago when jobs outnumbered applicants two to one.

The result is a growing sense of stagnation among many workers, contributing to increased job dissatisfaction.

Pay raises

While grappling with questions related to work-life balance and facing inflation erasing recent pay raises, employees are also being urged by their employers to do more with less.

Gallup’s latest survey data reveals a decline in job engagement among U.S. workers in the latter half of 2023, following a slight improvement in the first half.

Catherine Fisher, a LinkedIn vice president tracking job trends, commented, “The pendulum has swung back, and the power is in the hands of the hiring managers.”

Job offers are increasingly less lucrative across the U.S. workforce.

Workers who changed jobs in August 2022 enjoyed an average pay increase of 8.4%, significantly higher than the 4.9% raise for those who remained in their positions, as reported by the Federal Reserve Bank of Atlanta.

However, by the past month, the average pay bump for job-switchers had dropped to 5.7%, compared to 4.9% for those who stayed put.

In a job market marked by shifting dynamics and heightened competition, adaptability and perseverance have become key attributes for those seeking new opportunities in their careers.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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Blockchain sparks a transformative influence in Australia

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Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

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From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

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Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

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