It’s getting harder to find a job, and some economists expect that trend to continue in the new year.
Employers have pulled back on job openings sharply since the early days of the economy reopening after the pandemicwhen they couldn’t get enough workers.
In March 2022, more than two jobs were available for every unemployed worker, the most since the Department of Labor began keeping track of job openings in 2000. By September, there were only 1.09 jobs per unemployed worker, fewer than the days just before the pandemic.
Not only that, but the job finding rate—the percentage of unemployed workers who found jobs in the previous month—fell in November to its lowest since the pandemic hit.
The pullback is partly the result of policy by the Federal Reserve. The Fed hiked interest rates in 2022, pushing up borrowing costs on all kinds of loans, aiming for a cooler job …