Companies are increasingly posting fake job listings, known as "ghost jobs." Four in ten companies are engaging in the practice, according to a survey by Resume Builder. These listings often represent roles that aren't currently available due to budget cuts or future hiring plans. Revelio Labs reports a significant drop in hires per job posting over the past five years, indicating a decline in the reliability of job postings. The rise of ghost jobs complicates the labor market analysis, making it challenging for the Federal Reserve to gauge the true state of the job market despite it remaining relatively tight.
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00:00It's Benzinga, and here's what's on the block.
00:03Companies are increasingly posting fake job listings known as ghost jobs.
00:074 in 10 companies are engaging in the practice, according to a survey by Resume Builder.
00:12These listings often represent roles that aren't currently available due to budget
00:15cuts or future hiring plans.
00:18Revealio Labs reports a significant drop in hires per job posting over the past five years,
00:23indicating a decline in the reliability of job postings.
00:26The rise of ghost jobs complicates the labor market analysis, making it challenging for
00:30the Federal Reserve to gauge the true state of the job market, despite it remaining relatively tight.
00:35For all things money, visit Benzinga.com.