Career Growth Is Slowing
If unemployment is low, why does it feel harder to move up?
The Big Story
The job market looks healthy on paper, with unemployment near 4%. But hiring remains below pre-pandemic levels.
Researchers who tracked 1.3 million professionals found that more than half experienced a career stall lasting at least five years, while one in four went a decade or longer without a meaningful raise or promotion.
The Two Spins
From the Left
Low unemployment does not tell the full story if workers are not seeing raises, promotions, or career growth.
Create more pathways to higher-paying jobs through training, education, and workforce investment.
From the Right
Low unemployment shows the labor market remains relatively strong, but businesses are being cautious about expanding.
Create stronger business growth and lower barriers to expansion to encourage hiring and promotion.
What This Means for Us
For many of us, the challenge is no longer finding a job. It’s finding the next step.
Promotions are taking longer, raises are smaller, and switching companies is not creating the same opportunities it did just a few years ago. So we are waiting longer to buy a home, build savings, pay down debt, or reach other financial goals.
How They Make Money
LinkedIn has more than 1 billion members, making it one of the world’s largest databases of professional careers, skills, and job histories.
Microsoft spent $26.2 billion to buy LinkedIn in 2016 because companies will pay billions to find, recruit, and track top talent.
Takeaway
Hiring activity reveals how confident employers feel about the future long before unemployment numbers change.
The Number That Stuck With Me
25%
About one in four mid-career professionals will go five years without a meaningful raise or promotion.
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