ZipRecruiter labor economist Nicole Bachaud expects the August jobs report to show positive growth of 50,000 to 80,000 jobs, higher than July's figure, with unemployment likely holding around 4.1 to 4.2 percent. Bachaud notes that both labor supply and demand are falling, as an aging population, declining immigration, and discouraged workers reduce the workforce, while inflation and high interest rates dampen employer hiring. A ZipRecruiter survey finds 42 percent of job seekers say plentiful jobs they want aren't available, 55 percent say employers have the upper hand, and two-thirds feel financial pressure to accept the first offer, up from the first quarter. Bachaud says wage growth trailing inflation is eroding purchasing power, making job seekers more cautious about switching jobs and more willing to accept a paycheck even if the job isn't a perfect fit.
Ziprecruiter IncSurvey shows job seekers face financial pressure and accept first offers, indicating weaker demand for ZipRecruiter's services.
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