In this episode, hosts Joel Cheesman and Chad Sowash sit down with Business Insider economy reporter Allie Kelly to unpack the real story behind the white-collar bloodbath sweeping across America.

Far from the easy narrative blaming AI for vanishing jobs, Kelly reveals how sky-high Federal Reserve interest rates are choking company hiring, why aggressive deportation policies are quietly shrinking the labor force in key industries, and how a stubbornly low quit rate masks a job market that feels frozen for millions.

Despite an unemployment rate hovering just above 4%, white-collar workers in tech and finance are stuck sending hundreds of applications into the void—while a massive skills mismatch leaves hot sectors desperate for talent.

If you’re frustrated with today’s job hunt or wondering when the market will thaw, this no-holds-barred conversation cuts through the noise and delivers the economic truths everyone needs to hear.

Chapters

00:00 - Introduction to the Podcast and Guest

02:06 - Allie Kelly's Background and Expertise

03:58 - The Current Job Market Landscape

08:20 - Impact of Immigration on Labor Supply

10:12 - Understanding the Sluggish Job Market

12:46 - The Workforce Imbalance and Its Implications

15:41 - The Role of AI in Job Market Dynamics

19:40 - The Cycle of Hiring and Layoffs

20:31 - The Influence of Tariffs on Employment

24:30 - The Fragility of the Economy

27:56 - Navigating the Current Economic Landscape

30:03 - Future Predictions and Economic Recovery

35:22 - The Role of Baby Boomers in the Economy