The thought of a cooling job market worries me. I haven't been able to find a job for more than two months now and I'm worried there might be even less opportunities in the near future. Do you think that the job market will soon start rapidly cooling off?
4 replies (most recent on top)
There are cycles to everything…you will find another job hot or cold mkt.
I can't tell you what to think or feel.
I can tell you however what I am thinking. And it's pretty negative, lol.
I say it's more than likely. There will be a recession with all that inflation and the interest rate increases. As well as the new and very real war in Ukraine. Which is essentially a European war. On a massive country, not just some little backyard somewhere.
I also blame excessive greed before I call it "supply shortages". I claim these shortages are growing artificial. Everyone thought it's a great time to increase prices, too many thought they could earn back what was lost during the pandemic.
Housing prices increased everywhere, not just the US. People "afford" new cars by getting outrageously high loans. No job, no payment, car repossessed, but now it's aged and the value is lost. Unlike the housing market in 2009.
Don't trust that 8% inflation rate either. Prices for pre-production materials across all industries is 36% up, that is with energy cost. Half that without.
And there are many regions that can't increase their interest rates so easily, the EU particularly. Their debt crisis that followed the 2009 events was never resolved. Except for tax-haven Ireland, the other countries are still knee deep. So when they increase the rates there is fear of bankruptcy as these nations can't repay their debt.
With all that... yes, job market will decline I say. People soon won't be able to pay rent. Things will have to adjust. And if you have money laying around, say for a down payment or something like that, your buying power is decreasing absurdly fast right now. If you have debt on the other hand: that could work out great. The inflation adjusted salaries of the future will pay that off even faster.
Again, my own negative take on this. Also, this is my second recession. And I am very demotivated by this. Fckng economy. All greed. No brain.
@xok I hear they need more clowns like you.
McDonalds is hiring.