DeepSummary
The episode discusses the phenomenon of 'ghost jobs' - job listings that companies post but may never actually fill. It explores why companies do this, including incentives from job listing platforms to post more listings than needed, a lack of experienced workers for certain roles, and shifting recruiting norms where job ads are not necessarily tied to actual openings. The hosts hear from a job seeker's experience encountering these ghost listings.
Lisa Simon, an economist, shares data showing nearly half of job postings don't result in a hire, up from just 20% in 2018. The Bureau of Labor Statistics is surveyed about how they account for ghost jobs in their job openings data, an indicator the Federal Reserve watches closely when setting interest rates. But the BLS admits they don't have specific data on ghost jobs.
The episode also touches on the related issues of job listing scams, applicants being 'ghosted' by employers after interviews, and the rise of this ghosting behavior based on reviewing company hiring practices online. At the end, one job seeker shares his relief at finally landing a real job opening after many months of uncertainty.
Key Episodes Takeaways
- Companies post 'ghost jobs' or listings they may never fill for reasons like lack of skilled workers, incentives from job platforms, and shifting recruiting norms.
- Nearly half of job postings don't result in a hire currently, up sharply from 20% just a few years ago.
- Ghost jobs make it harder to assess real labor demand using job openings data watched by the Federal Reserve.
- Job seekers face frustration unable to distinguish real openings from ghost listings, and some encounter 'ghosting' by employers.
- Ghost jobs have become more prevalent, exacerbating challenges in the job search process.
- Some employers post continual ghost listings hoping to catch the rare experienced hire when available.
- Landing a real job after months of encountering phantoms can bring huge relief to job seekers.
- The rise of ghost jobs raises questions about the accuracy of job market indicators used for economic policymaking.
Top Episodes Quotes
- “They put you through a whole process of multiple interviews, maybe even a writing test, and then it's like, okay, we'll get back to you. And then months go by and then the company will go on social media and say, hey, look at who we hired. And they go, oh well, it would have been nice to know I didn't get the job before you made this announcement.“ by Ivan Fernandez
- “We've actually seen that that trend has really exacerbated over the past five years or so, where back in 2018, we sort of saw that one in five job postings wouldn't result in a hire, and now it's almost half. So one in two job postings don't result in a hire.“ by Lisa Simon
- “It's almost like sitting out on a boat trying to fish. And you've been out there 2 hours and you haven't caught anything and you look at your watch and you're like, I guess I'll just sit out here.“ by Allison Giddens
- “It was very much a feeling of relief, a feeling of, oh, now I can get healthcare again.“ by Ivan Fernandez
Entities
Company
Product
Person
Episode Information
The Indicator from Planet Money
NPR
6/7/24
Related episodes:
Not too hot, not too cold: a 'Goldilocks' jobs report
The Beigie Awards: From Ghosting to Coasting
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy