The Scoop on the Job Market.
D e c e m b e r C a r e e r N e w s
How’s that for a “horrible economy” with “all the layoffs”?
(I hope you detected the note of sarcasm in that line…)
If I needed some validity to my perspective and observations on what’s happening in hiring right now, man, did I get it on Friday when A. I saw the jobs report, and B. I tuned into this episode of NPR’s Marketplace with Kai Ryssdal.
I could end this email right now and tell you to click that link and listen to a conversation that 100% echos the sentiment with which I view the current landscape, but that would be copping out of my job 🙂
Here are my two (three) cents:
- Hiring in November outpaced projections, which is always a welcome outcome. It’s particularly impressive considering the slow-down we typically see before Thanksgiving.
Surprising gains occurred in the construction industry, where the real estate market and supply chain were assumed to deliver blows, and the tech field gained 20,000 jobs – an encouraging net gain considering the layoffs that made big headlines.
- Speaking of those layoffs…they are not widespread. Yes, they’re with large and visible companies, but for the most part, the activities that resulted in job cuts were due to internal factors and not market conditions.
Facebook layoffs are about META.
Twitter layoffs are about ELON.
Amazon and a few other companies were about MOONSHOTS.
Companies pulling back on investments in new business concepts that haven’t monetized yet does have a little to do with economic conditions – it means they’re going to take a small step to be more conservative in their spending, but it is not indicative of a looming fallout.
Note: I mean no disrespect to those of you impacted by economically driven downsizing – or any kind of layoff, for that matter! I would love to be a resource to you as you find your next great opportunity.
- The outlook for 2023 is solid, and I expect we’ll see a new-year hiring cycle indicative of a competitive hiring market similar to early 2019 and “before days” in 2020. Salary demands and bloated comp packages may be less prevalent, but I predict there will be plenty of opportunities to go around.
Forecasters are suggesting we (the U.S. economy) will “stick a soft landing” in 2023, narrowly avoiding a full recession as inflation starts to get under control without bottoming out the employment sector (cited: Goldman Sach’s Research), so that should instill additional confidence to candidates considering a move in 2023.
What does this mean for job seekers?
Go gung-ho, baby!
If you were planning to look around for a new opportunity in the new year, get your ducks in a row now. The last thing you want to be is flat-footed going into the new year.
Keep your plan in motion by:
–> Getting your resume updated now!
–> Honing in on your targets, so you have a rock-solid job search strategy.
–> Networking through the holidays!
–> Setting your GOALS for 2023.
Here’s a handy career goal-setting worksheet for you to use!
Lastly, reach out to me if I can support you in your 2023 goals and/or job search initiatives. The new year is always an exciting time around here, with a flurry of activity, interviews, and negotiations that just can’t be beaten.
Your Friend and Coach,