Evaluating the Job Market - Factors affecting the Market has Effectively Stalled - Part 4

Evaluating the Job Market - Factors affecting the Market has Effectively Stalled - Part 4

Job Market Realities (Especially in the Technology Sector)

Fewer Job Openings: Total job postings for jobs in the tech sector remain down roughly 33% to 36% compared to peak pre-pandemic baselines.  That number is actually much higher given ghost posts, a practice that is notorious in the Silicon Valley.  This issue, combined with the "low hire; low hire environment) that is still highly evident (across all sectors, job titles and career experience levels, has created an epidemic known as "job hugging" - nobody is moving and most employees are getting low wage increases - creating employee disengagement.

Lastly the competitiion for jobs is high - When a role opens, hundreds of applicants—including seasoned professionals who were recently laid off—compete for the same position.  With the increase of AI driven resumes, which are unfavorably viewed by hiring managers (can be spotted via eyeballs as well as software products designed to ID AI, the job market is a complete mess.

Solution - When the Iranian War is over and their is a calming in inflation, coupled with companies willing to spend more because they can predict their cost of goods sold (COGs), then we will see a real uptick in job opportunities.

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https://www.linkedin.com/in/abrownresumewriter/ (posting job search advice 1 – 2x daily) 

Current Market Realities

Fewer Openings: Total tech job postings remain down roughly 33% to 36% compared to peak pre-pandemic baselines. [1, 2]
Low Hire, Low Fire: Massive wave-style layoffs from 2022 and 2023 have slowed down, but companies are very cautious about opening new headcount. [1]
High Competition: When a role opens, hundreds of applicants—including seasoned professionals who were recently laid off—compete for the same position