Federal numbers indicate a declining but still historically robust job market. According to a data from the Bureau of Labor Statistics, the number of job opportunities has decreased to its lowest level since May 2021. However, the number of openings and employee resignations is higher than it was before the pandemic.
It appears that not all job postings are linked to open positions. According to the Labor Department, there were 10.8 million job opportunities in January, indicating that the labor market is still strong. Companies are experiencing budgetary pressures at the same time, and some are reducing recruiting. Despite businesses continuing to post jobs, recruiters claim that many positions remain unfilled.
The amount of monthly job postings published by the government has traditionally been met with suspicion by economists. Numerous free job-listing tools have made it much simpler to post a position, and the rise in remote work during the pandemic has driven up the numbers even further, prompting some businesses to duplicate listings online.
Hiring supervisors are aware of this. In a poll conducted last summer of more than 1,000 recruiting managers, 27% said they had job advertising up for more than four months. According to Clarify Capital, the small-business loan provider that sponsored the poll, over half of those who admitted to advertising job openings that they weren't actively seeking to fill did so to give the idea that the firm was expanding. A third of the managers who admitted to posting job openings they weren't actively looking to fill claimed they did it to appease overburdened staff members.
Other justifications given by recruiting managers for maintaining positions included keeping a pool of candidates on hand in case an employee departs or just in case a "irresistible" applicant applies.
https://www.wsj.com/articles/that-plum-job-listing-may-just-be-a-ghost-3aafc794
https://www.cbsnews.com/news/job-openings-fake-listings-ads-federal-reserve-jolts/
This is a very interesting side to the job market, I had never thought of employers using job openings as a psychological advantage.
ReplyDeleteThis is shocking that this is happening, especially because of the economic status as of late. I wonder what policies or organizations, if any, are in place to ensure realistic and genuine job postings by companies.
ReplyDeleteObserving the job market and learning more about how companies manipulate it is interesting. I never thought that so many fake job postings would be advertised just to gain some advantage. I would be interested in looking at how government and other companies can tackle this issue.
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