Economics
US White-Collar Job Growth Stalls, Even in Pandemic Boomtowns
Hiring in professional services, finance and technology is running at one-third the rate of the overall labor market.
Austin, Texas skyline during golden hour.
Source: Getty ImagesThis article is for subscribers only.
A laid-off YouTube employee is down to his last paycheck. A former startup worker has to borrow money from his family to pay his mortgage. A veteran financial consultant can barely land an interview.
They’re all victims of a stall out in white-collar hiring across much of the US. Industries such as finance, technology and media, and professional services like law and accounting, have turned into a pocket of weakness in a still-robust labor market, with the national unemployment rate hovering near historic lows.