Economics job market update

From John A. List:

AEA job market update. The numbers don’t lie, as this is the toughest market for PhD economists in recent memory.

JOE listings are down 20% from last year. Worse: they are 19% below COVID levels. Let that sink in.

The academic market took the biggest hit. Full-time US positions dropped 33% year-over-year. Liberal arts colleges and PhD-granting universities? Both down about a third. International academic postings fell 13% from last year, 25% from COVID.

Nonacademic isn’t much better: down 27% from last year, 45% below COVID. And federal government hiring? That’s where it gets ugly. Down 71% year-over-year, 79% below COVID. DOGE cuts plus the shutdown created a perfect storm.

One bright spot: private sector jobs in consulting, research, banking, and finance are holding steady at recent-year levels.

Bottom line for candidates: the data confirm what you’re feeling. It’s brutal out there. Universities facing their own financial pressures should still find ways to bridge unmatched candidates for another year. The talent is there—the opportunities aren’t. H/T John Cawley

Here is the link to the tweet.