You’re now more likely to get into Harvard than land a job. That’s the stark reality of today’s labor market, where the odds of securing employment have become nearly as slim as gaining admission to one of the nation’s most selective universities. The current environment—often referred to as the Great Freeze—has left job seekers frustrated and employers overwhelmed. According to exclusive data from hiring software provider Greenhouse, the average job opening last quarter attracted 242 applications. That translates to a mere 0.4% chance of landing the position you apply for. For comparison, Harvard’s acceptance rate stands at 3.6%, meaning you’re actually more likely to get into the Ivy League than land a typical job. To put it in perspective, NASA’s 2025 Astronaut Candidate Class accepted just 10 people from over 8,000 applicants—resulting in a 0.125% acceptance rate, even lower than the job market odds. On paper, this situation appears ideal for employers: an endless pool of applicants. But in reality, it’s creating chaos. Hiring managers are drowning in résumés, struggling to identify top talent amid the noise. As Greenhouse CEO Daniel Chait told Business Insider’s Aki Ito, “Nobody’s happy with the current situation.” Artificial intelligence is a major contributor to the problem. AI tools now allow job seekers to rapidly customize and send out applications at scale, dramatically increasing the volume of submissions. While this empowers individuals to apply for more roles, it also dilutes the quality of the applicant pool and makes it harder for employers to find the right fit. The result? A growing trend of “job hugging”—where workers stay in their current roles out of fear that stepping into the job market means facing fierce competition with little chance of success. This marks a sharp reversal from the era of The Great Resignation, when millions left their jobs in search of better opportunities. But for those who can’t stay put, some are choosing to walk away—no regrets. Business Insider’s five-part series features personal stories from people who quit their jobs and found new purpose. The first is Jenny Wood, a former Google executive who left her high-profile role after realizing her life was no longer sustainable. While her position offered financial and professional security, her experience offers practical, relatable advice for anyone—regardless of income or title—feeling burned out. Of course, the path isn’t always smooth. One upcoming story will detail the experience of a former Apple employee who quit and ended up homeless. But they’re now in a better place and stand by their decision. If you’ve walked away from a job and have a story to share, reach out to colleague Jane Zhang.