According to Axios, there aren’t enough flexible jobs to meet the needs of candidates, even though there’s no sign that the demand for remote work will go down because of the epidemic.
Although just 15% of the job openings that are offered on LinkedIn are for remote roles, 50% of the people who apply for jobs there indicate they would prefer to work from home full-time.
Even though the U.S. job market is still very competitive, it is showing signs of softening.
According to the data
the remote market in particular is cooling quickly, making some businesses more confident in bringing workers back into the office.
People are looking for jobs that they can do from home, but the number of jobs that can be done from home is going down because employers want their workers to come back to the office.
50 percent of job applications that are made on LinkedIn are for remote jobs, whereas only 15 percent of posts advertise flexible work.
💡: “The scaling back of remote-work policies is among the first and most evident symptoms of a shifting job market.”
According to Rand, who is in charge of economics and worldwide labor markets at LinkedIn, “flexibility continues to be one of the top concerns for employees.”
He says, though, that as the labor market keeps showing signs of slowing down, the balance of power is starting to shift away from workers and back toward businesses.
Even if businesses are eliminating telework roles, demand for remote jobs is still at or near all-time highs.
Layoffs in Tech
Similar patterns are being reported by other job portals. Even in tech-heavy fields like software development, remote job advertising at Indeed has decreased recently.
Between September and October, Monster.com observed a 21 percent increase in job searchers looking for remote roles, despite a 6 percent reduction in remote job postings.
Relaxing rules on working from home is one of the first and most obvious signs that the job market is changing.
Feds to blame?
In an effort to lower inflation by making the economy weaker, the Federal Reserve has been quickly raising interest rates.
Despite the fact that the unemployment rate, at 3.7 percent, is still quite low by historical standards, Fed officials have stated that they expect it to rise to 4.4 percent in the coming year, which would result in the loss of more than 1 million jobs.