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How can a fresher get job when he or she doesn't has any network. Only option is through showcasing their projects but how many hiring managers would be interested in their area of interest
Is this an ad? Where does it say 2.5%
Weird. Here in Austria from what I see the job market is very K-shaped right now.

As in I see a lot of demand for working student and new grad positions, because they can pay them less and they aren't demanding on hours, wages and WFH, and then high demand for highly experienced positions with a lot of personal responsibility like principal, tech-lead, CTO, etc where they expect you to do the job of 3 people with a laundry list of skills and requirements working long hours for 80-90k/year which nobody wants because after taxes you net home 1000 Euros more than a junior while working 5x more so there's a constant "shortage of skilled people". And then there's basically nothing in between.

Anecdotally the junior/new grad people I know have no issues getting job offers, but the senior people I know who've been laid off have been unemployed for almost a year and gave up when confronted with the current job market, and became day traders or wantrepreneurs.

I wonder if there's a tragedy of the commons effect with hiring. No individual company wants to spend to train employees when they can just use the pool of trained employees from other companies.
Entry level is being automated away.

Eventually I can see the solution as UBI plus abolishing minimum wage; allowing people to live on basic and take apprenticeships where they can just earn experience.

Meanwhile entry-level AI whisperer jobs at an all time high