#JobMarket #CorporateGreed #EconomicFactors
Hey everyone! 👋 Let’s talk about the job market and why it seems to be in such a rough spot. I know we can all agree that things aren’t looking great, but why is that? Hasn’t corporate greed always been a thing?
Here are some questions to get the discussion going:
– What factors do you think are contributing to the current state of the job market?
– Is corporate greed the main culprit, or are there other significant factors at play?
– How has the job market changed over the years, and what impact has it had on workers?
I personally believe that while corporate greed is a major issue, there are other factors at play as well. Here are some possible solutions that could help improve the job market:
– Implementing policies that prioritize workers’ rights and fair wages
– Encouraging companies to invest in their employees through training and development programs
– Holding corporations accountable for unethical practices
What do you think? I’d love to hear your thoughts and ideas on this topic! Let’s brainstorm some ways to make the job market better for everyone. 💡 #Discussion #Brainstorming
Out sourcing is easier than ever. You’re now competing with people from all over the world.
The era of free money and zero interest rates are over. The bill always comes due and they got presented with a check they can’t cover.
The point of the Fed raising rates is to slow down the economy. That means pain for employees and companies. Money is very expensive and inflation is a killer. Corporations are borrowing money at 11%, rather than the 3% to 5% just a few years ago. Inflation costs have driven up cost for salaries, health insurance, rents, interest expense, etc. With rising expenses, corporations are still trying to generate profits, but only a few high tech companies are really doing well. Most companies are becoming less profitable. If rates remain high, things will get worse — possibly much worse. Look at the historical economic charts. Unemployment will rise, companies will fail, people will lose their houses. Hopefully the Fed takes its foot off the throat of companies, then things should get better for everyone.
Its a new type of corporate greed. If every function beside the c-suite and a few people who could talk to the outsourced people could be outsourced than it would happen.
Higher interest rate and stonk market. Every CEO wats to get paid millions in base and billions in stonk options.
I would also say companies say what happened and the leverage workers gained during the great resignation, and will do anything to stop that from repeating.
You couple that with inflation, corporate greed, outsourcing, AI, political/social fissures and here we are.
It’s always bad people just want to make up excuses. Study your history. Look at historical unemployment rate
Bidenomics
Getting a job at good salary is impossible. If you looked for 10.an hour I think you’d find something real quick
They discovered they can turn all their full-time employees into “contractors” instead and suffer almost no change to their bottom lines.
It isn’t unanimous. Many people are getting new jobs, higher paying jobs. Just look at LinkedIn, seems like daily I see people announcing a new job/promotion. Some are struggling, and I don’t mean to discount that, but that is the way it’s been forever. But it’s a lot better in an under 4 percent unemployment rate than a 10 percent unemployment rate environment
accounts differ as to how this came about but there is about 10x the number of (apparently) qualified applicants for each job posting in the last two years. This has the effect of dramatically slowing the hiring process since employers feel no need to hire quickly.
The way I see it personally, when talking with my brother about this a week ago, in my opinion the market feels significantly worse this time around likely due to tooling and technologies that didn’t exists in prior bad markets, paired with historical bad trends that have existed before.
Just a thought, but for some jobs there are unironically recruiters that will go and judge you based off your Linkedin Profile if you choose to have one. That hasn’t existed in the way that it has as long as people may feel that’s been around, and I genuinely feel that the entirety of social media impact on our lives has been massively understated in general. Some people might say twitter or facebook are the worst social media platforms or TikTok due to attention span or whatever, but I’m still a firm believer that social media shouldn’t exist for the professional world in the way that it does today.
The general impacts of the internet are starting to also be more felt today than it was before as companies are willing to expand their job searches to a wider pool of candidates through the use of social media. It is statically more likey your going to land a job in a smaller pool of applicants, which is why at least for tech workers I think trying to aim for local shops is the best way to get your foot in the door. The web in general has saturated the market to make it difficult for both job applicants and employers to be able to obtain jobs, meaning you need to apply generic methods towards a wide array of jobs hoping something sticks, as the job hunting experience is even less personable than it has been in the past. How many times have you talked with someone that says “If I could just sit down and talk with someone, I know that I would land a job way quicker than I did today”? I’m in a Slack group of well seasoned professionals with over 10+ years experience, and there writing whole strategies on how to get the job. This shouldn’t ever be the case .
The above also makes a rise for automation to filter out these applicants, and regardless of the intention, it will always filter out the wrong people for the most simplistic errors. Relevancy to your actual experience gets lost in the field due to the fact that your resume doesn’t quite meet the specific formula someone likes.
Finally I’d say that the job market as it exists right now is a consequence of the overall side effects of some industries giving more incentives for employees to leave as opposed to creating good structures that make individuals want to stay at a job. Tech’s probably the worst offender of this practice, as it’s known to be able to enrich yourself as an employee you need to job hop every year or two to get a better salary, which is how a lot of people end up with higher salaries. Employers however do not want to give better incentives for people to stay (which I personally think comes from the mentality of certain Big Tech companies), so you have a back and forth of creating a workforce that is much less skilled for specific products, and more skilled in building a broader skill set that allows them to cast the widest net possible to be able to reach opportunities, meaning you end up making less skilled employees over time, as there is some merit towards building hardened experience from going through tough times at a company and succeeding through those tough times. The industry (at least in tech) now demands for more skilled employees and has a difficult time acquiring those skilled employees, as the general market has been trained to be average at everything instead of being good at a few things.
I’m sure you’ll get everyone talking about Inflation, greed, outsourcing, tax effects etc, but those things have existed in some form before, but has never felt this bad in my opinion.
Its a race to the bottom. We haven’t reached there yet.
Why do you think employment is being impacted by corporate greed?
Interest rates