A recent CNBC report highlights a growing concern among American workers: the fear of layoffs. According to a survey by Clarify Capital, one in three adults worry about being laid off, with Gen Z feeling it the most—40% of them are anxious about job security. Despite these concerns, the U.S. economy remains strong, and the labor market is stable. So why the disconnect?

CEO Sound Off: The Layoff Narrative vs. Reality

While the economy continues to perform well, high-profile layoffs, particularly in tech and government sectors, have fueled unease. Employees still remember how difficult it was to find work during the pandemic, and businesses recall the challenges of hiring and retaining talent. As a result, many companies are choosing to hold onto employees rather than hire new ones—creating a perception of uncertainty that doesn’t necessarily reflect the broader economic picture.

At Tahche, we’re still seeing businesses hiring offshore talent to stay competitive. Even companies that aren’t experiencing growth are prioritizing employee retention over layoffs, understanding that workforce stability is key to long-term success.

The Self-Fulfilling Cycle of Fear

Economic concerns, whether real or perceived, can shape consumer behavior. When workers fear job loss, they spend less, which can lead to economic slowdowns. But the truth is, the economy is resilient. One major reason people may be spending less on goods is the continued trend of revenge travel. After being unable to travel during the pandemic, many are now prioritizing experiences over material purchases, choosing vacations and events over physical goods—an indicator that confidence in financial stability persists.

As CEO Bryan Luoma pointed out in The Philippine Business Playbook, a key marker to watch is small businesses, particularly restaurants. If they start struggling, that could be a more accurate signal of economic distress. Right now, however, the fundamentals remain strong.

What Should Workers Do?

Rather than giving in to fear, here are some of the practical things you can do to maintain career  confidence and stability: 

• Assess Your Skills: As Vicky suggests, now is a great time to check your skill set and explore passions that could lead to career growth.
• Be Proactive: Bryan advises workers to take the chance to send out their resumes, despite fears. Staying open to opportunities will always give you the best chance at success.
• Avoid Unnecessary Pay Cuts: Some workers are willing to take significant pay cuts for job security, but Bryan advises against this unless absolutely necessary. A strong job market means employees should maintain their value.
• Build Financial Security: Reducing debt and increasing savings can help ease anxiety and provide a safety net in case of unexpected changes.

The job market is still strong, and while uncertainty can cause worry, the best approach is to stay calm, keep up with industry trends, and take proactive career steps. 

At Tahche, we continue to see businesses investing in offshore talent as part of their long-term growth strategy. So if you’re looking to strengthen your team with skilled professionals from the Philippines, we’re here to help.

For more insights into the evolving job market, tune in to The Philippine Business Playbook on YouTube, Spotify, and Apple Podcasts.

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For more insights into how business is done in the Philippines, subscribe to The Philippine Business Playbook on YouTube, Spotify, and Apple Podcasts.