Job Market - Worse in the Last 20 years, esp. in the Technology Sector
Yes, the mortgage crisis and subsequent recession of 2008/2009 was tough on the broad market and if the tech sector did not have the enterprise cloud technologies that were (and rightfully so) as the "new way of computing" tech would have been in big trouble.
However, the job market since Feb 2025 is different. It is weird, curious and possesses KPIs and other economic indicators that do not add up. Stock market is up, unemployment is relatively low (at least given the parameters that Washington DC uses when publishing data), inflation is a deterrent but nothing is visibly truly crashing. Is the economy on the verge of a catastrophic event - not really, given the resilience of the stock market and record corporate earnings. However, in this low-hire, low-fire environment as companies focus on AI investment while not truly understanding what their true COGS number, something is going to break.
Perhaps things will look brighter when the Iranian conflict is over, the inflation dissipates, gas prices as well as fertilizer prices lower, and immigration policy begins to make an actual positive impact. But fake job postings, AI- Interviewing, AI generated resumes, the worst level of employee / labor management relations in my lifetime, poor employee engagement, substandard leadership in the private and public sector (state, federal, local), the cynical attitude towards authority (with justification) are just several of a laundry list of issues that make this turndown different and not comparable to 2008.
I welcome thoughts and predictions to where our economy is going because frankly, this is uncharted territory.
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https://www.linkedin.com/in/abrownresumewriter/ (posting job search advice 1 – 2x daily)
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