This article appeared in SoFi's On the Money newsletter. Not getting it? Sign up here.
If this sounds familiar, you’re grappling with what some have coined the “The Great Freeze” — a job market where unemployment and layoffs are relatively low overall, but many companies aren’t hiring much, either. Given the hurdles of finding a new role, workers just stay put — feeling burned out and trapped in jobs they don’t like. “Workers are tired and don’t want to rock the boat,” Amy He, head of industry analysis at the data analytics firm Morning Consult, wrote in a recent report on the state of the country’s workforce. The evidence? Two in five workers want to leave their jobs — the most in three years, according to a new Morning Consult poll. Fewer are asking for raises, bonuses or promotions. And over a third, particularly younger adults, are feeling so burnt out that they’re always or often too tired after work to enjoy their personal lives. This is in stark contrast to when American workers had the leverage a few years ago. First there was The Great Resignation of 2021 and 2022, when people were quitting their jobs en masse because of the pandemic disruption. That was followed by The Great Reshuffle, when many had the luxury of looking for more fulfilling roles with greater flexibility. But then came the economic headwinds. Tariffs are creating huge amounts of uncertainty, the stock market is in a tizzy, and economists are raising the odds of a recession. Last year’s Great Stay has turned into today’s Great Freeze. So what? You may be stuck in your job, but you’re still in charge of your life. Plan ahead so you’re in a better position once the job market thaws: Take advantage of employer-sponsored training, max out your 401(k) match, or put your cash into a high-yield savings account to earn a little extra interest. The more skills you have and the more savings you’ve amassed, the more confident you’ll feel when you’re negotiating for better pay or applying for a new position.Related Reading
• The Job Market Is Frozen (The Atlantic)
• Tech Workers Are Just Like the Rest of Us: Miserable at Work (The Wall Street Journal via MSN)
• 31 Ways to Save Money on Car Maintenance (Calm)
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
OTM20250430SW