Job Market Contraction: Hiring freezes and layoffs become common, shrinking the number of available positions.
Skill Set Shifts: The demand for specific skills fluctuates, requiring workers to adapt, reskill, or upskill.
Salary Stagnation: Pay raises, bonuses, and benefits are reduced as companies strive to cut costs.
Increased Freelancing: More professionals turn to freelancing or gig work for income and flexibility.
Career Pivots: Economic pressures force individuals to change careers or industries, seeking new opportunities in different fields.