Young American workers remain unconvinced by the job market progress so far, despite the market’s gradual recovery over the past few months.
According to a recent survey, job-specific confidence took a notable dip this past week, dropping 2.4 points from last week. The survey measures job security confidence, job loss experience, and employment outlook.
The current job index remains about 4 points below its pre-pandemic reading in March 2020. According to the survey, which is conducted by Ipsos, young workers experienced the most significant dip in job confidence.
“Any unexpected job loss or change caused by the pandemic is more difficult to recover from when a worker has less professional experience to fall back on,” said Kevin Harrington, CEO of job-search platform Joblist.
On the other hand, older workers (55+) are more optimistic about their employment outlook through 2021. However, it is those aged 35-54 who are experiencing the most confidence in terms of employment. So much that mid-career workers are the ones feeding into the great resignation the most.
Recent graduates appear to be struggling the most. A July report found that the majority of recent graduates believe it is harder to find a job this year than previous years. Unemployment data points to a disconnect between jobs available and the job workers are searching for.