As a result, many are now being forced to take up blue-collar work instead since some income is better than none, even if the work doesn't align with long-term goals, according to a Business Insider report.

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This is because apart from a two-month pandemic-related dip in 2020, US businesses are hiring at nearly their lowest rate since 2013, according to the report, which added that this was combined with a hiring slump in white-collar sectors such as marketing, banking, and finance.

An example would be Donald Malone, 65, who had made his mark in the corporate world as a consultant. He found a blue-collar job on Craigslist for a company that makes machines to manufacture paper and cardboard.

However, it paid only half of his previous $60,000 annual salary. He, thus, also had to work in a part-time security position which earns $1,200 monthly.

A heart attack and stroke also came earlier the year, making him completely reliant on his monthly Social Security payment of $2,187, which covers his mortgage.

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Another example is Eric Nielsen, 50, who, according to the report, had built a career as an account and sales executive at financial institutions.

Then, a layoff in 2023 sent him working for a nonprofit and holding other part-time gig positions, such as that for Uber Eats and hosting wine parties.

He then witnessed being on the brink of homelessness after having made only about $27,000 last year. He still has about $60,000 in student loan debt from his master's degree.

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On top of this, blue-collar work is not easy to find too since many industries like trucking or plumbing require specialized degrees or certifications that often take months or years to complete.

An example would be David Fischer, 54, who had held marketing roles in the Bay Area and Portland, Oregon, before a layoff last May, according to the report which added that the layoff came despite him never having received a negative review in his career.

His applications to blue-collar jobs such as bus driving or operating a light-rail train, was also rejected as the positions required more experienced people.