According to Business Insider, 2025’s job market is defined by a “Great Frustration,” where low unemployment masks a severe hiring slowdown and brutal conditions for seekers. Employers are hiring at one of the lowest rates since 2013, with the average job posting now getting 242 applications—nearly triple the number from 2017. U.S. companies have announced 1.17 million job cuts this year, the most since 2020, and a key New York Fed survey shows workers’ confidence in finding a new job quickly is at its lowest point since the survey began over a decade ago. Job seekers across generations report being ghosted by employers, suspecting ageism, and burning through retirement savings to survive, with some, like accountant Matthew English, applying for hundreds of roles from accounting to a fast-food mascot with no success.
The Hiring Gridlock
Here’s the thing that the headline unemployment rate completely misses: the system is frozen. Companies aren’t hiring aggressively, but they’re also not doing massive layoffs across the board. It’s this weird, low-momentum purgatory. As LinkedIn’s economist put it, we’re feeling the “cumulative effect of three years of slowdown.” So you have this perfect storm: a ton of anxious, available talent, and a flood of AI-assisted applications making it easier than ever to apply to 100 jobs before lunch. The result? Every opening gets buried in a mountain of resumes, most of which are probably screened out by an algorithm before a human ever blinks. It’s demoralizing by design.
The Human Cost
The stories in the report are devastating. People in their 50s and 60s—supposedly peak earning years—are draining 401(k)s and donating plasma to pay bills. They’re getting to final interview rounds and then hearing nothing. One woman had an interview canceled the same day because the HR rep who liked her got fired. Another had a hiring manager’s demeanor change the second he saw him in person, a moment he attributes to ageism. This isn’t just about statistics; it’s about lives being put on hold and retirement security evaporating. The psychological toll is massive, leading to private support groups like the “MSFT Survivors” on Facebook. When even experienced project managers from major firms like Accenture are falling behind on mortgages after two-year searches, you know the playbook is broken.
Networking Isn’t Optional
So, is there any way out? The one consistent thread among those who did break through was leveraging a human network. Alexander Valen, who finally landed a freelance project manager role after nearly two years, said it directly: “In a market this competitive, networking isn’t optional—it’s the force multiplier.” It’s the former colleagues sharing leads, the weak ties that surface a hidden opportunity at a place like Toptal. This is where the frustration meets a grim reality. The automated application portal is basically a black hole. The real movement seems to happen in the shadows—through referrals, alumni networks, and survivor groups. It places an enormous burden on the job seeker to be a full-time marketer while also being financially desperate.
What Comes Next?
Economists in the article don’t see a sudden snap-back to easy hiring. Uncertainty around things like AI implementation and policy is keeping companies cautious. The initial shock of new administration policies might fade, but the structural shift towards efficiency and automation isn’t going away. This suggests the “Great Frustration” might just be the new normal for the white-collar and professional job market. The advice to reframe the search as “an opportunity to grow rather than a verdict on your worth” is nice, but let’s be real—it’s hard to maintain that mindset when you’re tapping your retirement fund to buy groceries. The data shows a system under immense strain, and worker confidence is in the tank. Until companies decide to meaningfully ramp up hiring rather than just post “ghost jobs,” the frustration will likely continue. And that’s a huge problem for everyone.
