The ‘White Collar’ recession is pummeling office workers, but the end might be near

While hiring rates remained steady for those who earned less than $55,000 annually, it reached new lows for those who make over $96,000 according to a 2024 report from Vanguard. In 2023, hiring for middle- and top-third earning employees dwindled so much that the latter group reached the lowest level of hiring since 2014.

“While we don’t believe that there will be a massive upswing in demand for mid-level professional talent in the near future, we do believe there will be a steady stream of turnover and new additions driven by prolonged postponements and pent-up growth initiatives slowly being implemented,” adds DiStefano.

In the meantime, he suggests that middle-aged adults in the white-collar workforce stay fresh by networking, always having a contingency plan, and being up-to-date on their skills. The demand in this current market is for experts, not generalists, he adds.