Say it Ain’t So: U.S. Hiring is at Record Low
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Key Takeaways
- Public sentiment about the 2024 job market is negative as voters share the personal economic struggles creating their negativity.
- Optimism only exists among those who trust in government reporting indicators—typically Democratic voters and higher economic classes.
- Those who are negative about the job market are likely to use first-person language and personal stories, while those who are optimistic use third-person verbiage.
Our Methodology
Demographics
All Voters
Sample Size
5,000
Geographical Breakdown
National
Time Period
7 Days
MIG Reports leverages EyesOver technology, employing Advanced AI for precise analysis. This ensures unparalleled precision, setting a new standard. Find out more about the unique data pull for this article.
Recent layoffs and discussions about low hiring in the U.S. job market dominates voter conversations, according to MIG Reports data. Americans indicate their personal experiences with the economy shape their reactions to job reports. There continues to be significant division between those who perceive the job market as improving and those who believe it is deteriorating.
Data suggests public sentiment based on the language voters use to communicate their experiences. MIG Reports analysis coincides with a recent study from the Challenger Report showing 193% more job cuts from July to August 2024.
BREAKING: Hiring in 2024 is at a historic low, per CNBC + Challenger.
— unusual_whales (@unusual_whales) September 20, 2024
Overall Sentiment Breakdown
The job market in 2024 elicits polarized reactions:
- 55-62% of Americans express negative views, largely shaped by their personal financial struggles and the impact of inflation.
- 31-45% hold an optimistic outlook, focusing on macroeconomic indicators such as job creation, wage growth, and a strong stock market.
Despite some optimism, doubt and discouragement dominates voter discussions, particularly among those who distrust economic data or feel the government is not addressing the real economic issues Americans face.
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Worker Perception of the Job Market
Most Americans in 2024 view the job market negatively. Many cite inflation, economic instability, and poor job quality as key concerns. Workers feel disconnected from the administration’s reports of macroeconomic success, pointing instead to personal struggles with rising living costs and job instability.
For struggling Americans, the realities of layoffs and stalled hiring directly affects their day-to-day lives. Personal accounts of job loss are also permeated by mentions of paycheck-to-paycheck living and eroded purchasing power.
Some do hold a positive view of the job market, however. They highlight media reporting and government figures of low unemployment, job creation, and economic growth as reasons for optimism. This group focuses on broader economic indicators like wage growth and a strong stock market, rather than their personal experiences.
Typically, in higher economic classes or politically left leaning, this group attributes economic successes to government policies. They particularly mention Biden-Harris measures, viewing the economy as successfully recovering from COVID.
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Reasons for Reactions
People who believe the job market is bad typically base their views on personal experiences. They talk about their struggles with inflation, job instability, and rising living costs. These voters frequently blame government policies for failing to address the economic challenges middle class Americans face. For them, the negative impacts of inflation and unstable jobs outweigh any broader economic successes.
Those who perceive the job market positively rely on the Biden-Harris administration to support their views. They point to low unemployment, job creation in industries like manufacturing, and wage increases. This group tends to trust official economic reports and see selective macroeconomic trends as evidence of a stable and improving economy. They attribute economic progress to policies that they believe are fostering growth and recovery.
How Americans Talk About Jobs
The language people use in these discussions reflects their perspectives on the job market. Those who view the job market negatively often use first-person pronouns like "I" and "me" to emphasize their personal struggles. They talk about their individual experiences with statements like "I'm struggling to make ends meet" or "I lost my job because of inflation." This use of first-person language underscores the personal impact the economy has on their lives.
Voters who see the job market as strong tend to use third-person pronouns, such as "they" and "them." They describe the economy from a more detached perspective, with phrases like, “They’re creating jobs" or "The economy is growing." This language suggests a broader view, focusing less on personal hardship and more on the general direction of the economy.
Additionally, those with a positive outlook often adopt a factual and confident tone, while those with negative views express frustration, skepticism, and distrust. Skeptics frequently challenge the accuracy of official economic data, using sarcastic or confrontational language to question the narrative of economic recovery.
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