CNN 5 Things One Thing: Why Job Hunting Feels Impossible Right Now
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Oct 26, 2025 Diane Swonk, Chief Economist at KPMG, discusses the current labor market challenges, highlighting a freeze in hiring and increased layoffs. She analyzes the struggles of job seekers, including a new graduate facing a mountain of applications and an educator resorting to supermarket work. Swonk explains how various demographic groups are disproportionately affected, particularly Black women. The conversation touches on recession indicators and the impact of AI on entry-level jobs, raising concerns about the economy's future and practical advice for those job hunting.
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Recent Grad's Grueling Job Hunt
- Ellie Bryan applied to roughly 1,500 jobs since February and landed only about 10–12 interviews total.
- She describes the process as “brutal” and says she keeps oscillating between hope and hopelessness.
Experienced Leader Forced To Take Menial Work
- Amy Suman, a former superintendent, spent months unemployed and took a job cutting meat to pay the mortgage.
- She found the experience humbling after managing large budgets and staff for years.
Labor Market Is “Stuck” Not Busting
- Diane Swonk calls the labor market "stuck" with low hires, low fires, and low quits, worsening long-term unemployment.
- She cites a mix of factors including AI, tariffs, shutdowns, and changing worker supply as complicating recovery.
