Shrinking Job Market and Underemployment

The job market is experiencing a significant shrinkage, primarily influenced by factors such as declining birth rates and the retirement of baby boomers. Many workers are reevaluating their employment preferences, particularly following the pandemic, leading to a situation where 53% of college graduates are now underemployed. This evolving landscape indicates that the mismatch between the skills of recent graduates and the demands of employers is not a short-term issue but a persistent challenge that organizations will need to navigate for the next two decades. Consequently, companies must strategize to maintain productivity and competitiveness in light of this shifting employment environment.