The Missing Middle Podcast The Hidden Job Market Crisis No One Is Talking About
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Feb 18, 2026 A deep dive into why low unemployment can hide a frozen job market. Shortages of hires, scarce vacancies, and rising EI claims make job searches stretch on. The conversation explores how employers gain the upper hand amid global uncertainty and how housing, regulation, and competition shape opportunities for young and transitioning workers.
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Unemployment Rate Masks Hidden Weaknesses
- The headline unemployment rate hides deeper labour-market dynamics like discouraged workers and participation rates.
- These other indicators show many people have left the labour force or stopped searching for jobs.
Three Job Seekers Per Vacancy
- The ratio of unemployed workers to vacant jobs rose from 1:1 to about 3:1 since 2022.
- That shift signals a move from a tight market to one where job seekers have much less power.
Employers Can Be Picky Again
- Job vacancy rates and low hiring give employers discretion to wait for perfect candidates.
- That pickiness prolongs searches and reduces callbacks for applicants.