This has been the case since 2008. There was a brief period from 2021-2022 where people could job hop to higher earnings but many of those job hoppers are the first on the chopping block when it comes time to layoffs. This is basically the new normal for the untermenschen. There has been a dedicated effort from employers to punish employees for that brief couple of years where employees had a little bit of leverage on employers and they’ll never let us forget it.
There are a lot of people who have essentially peaked relatively early on in their careers. I see LinkedIn feeds a bunch of people out of work for over a year still rambling about how #blessed they were that they had their last job and how they haven’t given up hope yet, even though you can tell how desperate they are to find something, anything. Lots of responses from people feigning sympathy and copying in various recruiters but no job opportunities. Basically the employment equivalent to “thoughts and prayers.” Sometimes they’re people who were overpaid at their last job and refuse to work for anything less than $250k a year as a diversity consultant but there are people with actual skills who aren’t asking for huge salaries that are still struggling. These are not good times for a lot of people and 2024 is not going to be a good year for them.