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Is America's jobs market nearing a cliff?

economist.com

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Re: Is America's jobs market nearing a cliff?

#361

Post by ponector »

mschuster91 wrote: post #353
donatj wrote: post #311

Earlier quoted context omitted.

The number of just straight out NO's I've gotten has been surprising and disheartening. I've been a developer for 20 years and genuinely don't think I've gotten an outright "no" before this year. Usually just no response. I've gotten maybe eight or nine actual rejections this year. It's honestly worse, emotionally. Ideally I want a job outside my wheelhouse to learn and move forward, but it seems like no one these da…

> Ideally I want a job outside my wheelhouse to learn and move forward, but it seems like no one these days is interested in any sort of training. No one has the resources left to pay for it, that's the thing. Clients are cutting budgets because no one is buying their stuff, so everyone is looking for seniors and above only, and replacing juniors/intermediates with AI. Trickle-down ideology is now beginning to eat it…

>> No one has the resources left to pay for it

Record profits reported by tech companies says the opposite. Money are there, but no will to spend them on people.

We had multiple layoffs recently so parent company could report a billion USD in quarterly profits.

Re: Is America's jobs market nearing a cliff?

#362

Post by aianus »

SilverElfin wrote: post #303
Den_VR wrote: post #297

Earlier quoted context omitted.

The numbers that interest me are comparing home ownership rates at various ages between the generational groups Lots of research shows about a 8-10% gap, that only at very specific ages finally achieved parity. The consequence of this is a difference in wealth building, economic security, and family planning for millions.

Why does home ownership on its own matter? Net worth is inclusive of housing and assets and debt. And net worth is a direct measure of the wealth that is being built.

As a thought experiment would you not feel (much) poorer if houses suddenly cost >$5 million tomorrow and you didn't own one yet? Even if everything else cost the same? Even if everything else cost the same and your net worth went up $100k?

Re: Is America's jobs market nearing a cliff?

#363

Post by fragmede »

elric wrote: post #319
cal_dent wrote: post #62

I think there's something quite interesting (well to me anyway) where if you go by the internet, there is this bloodbath (slight exaggeration perhaps but feels like that) in jobs out in the US, UK, Aus and major European countries (the volume of anecdotes & complaints would suggest a significant downturn in employment) but out in the official data, and less so but still true in the real world, things are still bobbin…

Some anecdata from Belgium: the software market is dead. Hardly anyone is hiring. Rates have plummetted. There are (virtually) no startups. Big corpos are hiring in Southern and Eastern Europe instead, when they're not outsourcing to India. Unlike some of the US commenters, our high tax rates and lack of stock-options driven reward schemes means that most of us don't have enough money in the bank to casually found a…

I've been lead to believe that, in lieu of startup founding cash in the bank, there's a better social safety net, for use in cases like these. Is that not the case?

Re: Is America's jobs market nearing a cliff?

#365

Post by astura »

ta12653421 wrote: post #266
adamredwoods wrote: post #220

Earlier quoted context omitted.

Situational. IMO, I think it breaks even, but eating out saves a lot of time! Healthier cooking at home? Yes. I studied this for myself (N=1), and my cooking is about US$10/meal give or take (asparagus, chicken, rice, water to drink). If you cook for two or more people, then I think cooking at home comes out ahead financially.

...and add the time for preparation, cleaning up etc.: Thats one of the most frustrating things when cooking for one person - you invest 45min to eat 5min and the rest is "organisation & logistics"

That's why when it's just me I don't really do much cooking. I'll eat ultra-low prep stuff like toast (w/beans, hummus or avocado), bagged salad, frozen food, or grilled tofu.

Re: Is America's jobs market nearing a cliff?

#366

Post by DrProtic »

forgotoldacc wrote: post #346
ic_fly2 wrote: post #342

I don’t know, I’m hiring and the candidates so far have not been impressive. Maybe that is restricted to my area / region but I got one am confused.

That signifies that your company is not appealing to impressive candidates for some reason or another. Companies that offer good pay, some other great benefits in the place of good pay, or kind of okay pay but very interesting work have no trouble getting people, especially in today's market.

That goes against the idea that impressive candidates have a difficulty finding a job.

Re: Is America's jobs market nearing a cliff?

#367

Post by modo_mario »

donatj wrote: post #311
AIorNot wrote: post #260

Well as a single datum: After I got laid off in late 2023 I had a devil of a time finding work (despite having AI experience) to the point my unemployment ran out - And I was 20 years as a dev and tech lead and full stack, (never had trouble finding work) including stints as a leading EM and CTO, I’ve been an industry award winning innovation lead,a digital studio director, switching tech stacks and cloud certs all m…

The number of just straight out NO's I've gotten has been surprising and disheartening. I've been a developer for 20 years and genuinely don't think I've gotten an outright "no" before this year. Usually just no response. I've gotten maybe eight or nine actual rejections this year. It's honestly worse, emotionally. Ideally I want a job outside my wheelhouse to learn and move forward, but it seems like no one these da…

>I genuinely have zero idea what you're looking for if the literal perfect fit isn't it.

Maybe someone on a visa that can't leave and will take peanuts.

Re: Is America's jobs market nearing a cliff?

#368

Post by mschuster91 »

SoftTalker wrote: post #44
jdiff wrote: post #23

Earlier quoted context omitted.

It's grim everywhere, for everything, all at once. I haven't been able to find work as a graphic designer, motion designer, web designer, web developer, software developer, and a large variety of retail jobs. Been on the job hunt since May, all I've been able to find is a part time position at The Home Depot.

Construction, trades, and basically physical-world stuff that AI cannot do are still hiring.

The problem is, for construction, trades and what remains of agriculture the competition is brutal. It's a low-skill job in terms of prior required education which means there is a looooot of people without degrees flooding into that market already, and then comes immigration that's further driving the wages down because (again) it's work that doesn't require much education or language skills.

I've done a stint in construction (I think y'all call it "civil engineering", aka digging trenches and moving soil) myself, it was rare to find Germans - most of my colleagues came from Eastern Europe.

Re: Is America's jobs market nearing a cliff?

#369

Post by citrin_ru »

SoftTalker wrote: post #44
jdiff wrote: post #23

Earlier quoted context omitted.

It's grim everywhere, for everything, all at once. I haven't been able to find work as a graphic designer, motion designer, web designer, web developer, software developer, and a large variety of retail jobs. Been on the job hunt since May, all I've been able to find is a part time position at The Home Depot.

Construction, trades, and basically physical-world stuff that AI cannot do are still hiring.

Construction, trades e. t. c. will have not many customers with other professions facing unemployment so it's not a safe bet either.

Re: Is America's jobs market nearing a cliff?

#370

Post by reactordev »

watwut wrote: post #357
reactordev wrote: post #338

Earlier quoted context omitted.

At some point you are going to have to grow up and take matters into your own hands instead of blaming everyone for your situation. I’m not old. Just wise.

They cant fix the economy singlehandly. Blaming individuals for systemic problems is just avoidance.

The only thing they can control is themselves and their habits though.

I’m not avoiding the fact that the economy is fucked. I’m fully aware. It’s up to you how much you’re willing to continue to pay or what you’re willing to sacrifice. It sucks, but the only thing you can control is yourself.

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