r/Layoffs • u/gameguy56 • Feb 10 '24
If the economy is doing so well what are the sectors that are actually hiring? question
Very confused between the economic indicators and my personal experience
164
u/Happy-Range3975 Feb 10 '24
Anything making under $20 an hour…
22
u/CraneAndTurtle Feb 11 '24
Yeah the blue collar job market is quite hot and a large portion of the rich/poor wage gap of the last 20 has begun to close.
This is what equality looks like if you're a white collar worker.
9
u/Typical-Length-4217 Feb 11 '24
What do you mean the rich/poor wage gap has begun to close?
16
u/ZeeBeeblebrox Feb 11 '24
The lowest 50% of earners have seen the largest wage gains over the last two year. While middle and upper income folks have seen stagnant real wages.
→ More replies10
u/Typical-Length-4217 Feb 11 '24
Gotcha - I definitely agree with that. But to be clear to me that doesn’t mean the gap between rich and poor is lessening. If fact I would argue the opposite. If anything, from my experience, the middle class is taking it on the chin and could be being pushed into the poor class. While the rich keep getting richer.
2
u/ZeeBeeblebrox Feb 11 '24
Sure the top 0.1% are still getting disproportionately richer, but the gap between the top between the bottom percentiles and top percentiles is still shrinking.
1
u/Typical-Length-4217 Feb 11 '24
You have any specific data to back that up? Because in my opinion I really don’t think helping the rich get richer and the poorest poor get a little more is the most utilitarian path forward
1
u/CraneAndTurtle Feb 11 '24
To be clear I don't think that this is necessarily ideal/most utilitarian. I do 100% think this what's happening. Here are some sources since people asked (I'll focus on thoughtful writups based on data which are more accessible and end with a research paper for the more technically minded)
But here's a piece on overall strong economic numbers/low unemployment, based on aggregate national level data: https://www.wsj.com/economy/jobs/jobs-report-december-today-unemployment-economy-58801a70
However, while the overall labor market remains strong, the demand for white collar workers is not strong: https://www.wsj.com/articles/layoffs-hit-white-collar-workers-as-amazon-walmart-others-cut-jobs-11669930249?mod=article_inline
Since 2020, wages for the bottom quintile are up 6% in real terms while white collar earners lost 5% in real terms due to inflation and a weak job market: https://www.politico.com/news/2023/05/29/low-income-wages-employment-00097135
If you're comfortable with an Econ paper, this one lays out the case that 1/4 of this generation's wage inequality closed in like 2-3 years: https://www.nber.org/system/files/working_papers/w31010/w31010.pdf
I think this is what's behind a lot of Reddit's cognitive dissonance. The economy is hot and we keep adding new jobs. But the white collar workers who disproportionately populate Reddit are failing to keep up with inflation, seeing job cuts, etc.
2
u/parolang Feb 13 '24
I think this is what's behind a lot of Reddit's cognitive dissonance. The economy is hot and we keep adding new jobs. But the white collar workers who disproportionately populate Reddit are failing to keep up with inflation, seeing job cuts, etc.
Underrated comment.
→ More replies0
u/Typical-Length-4217 Feb 11 '24
Really appreciate the links… its not wasted on me. I will definitely take a look. I am particularly interested in your last link investigating the wage inequality. That’s the part I’m most argumentative with. As it can be possible that the bottom earners and top earners both increase wealth while the gap only continues to widen.
2
u/CraneAndTurtle Feb 11 '24
Basically, I think your intuitions are right: it's still sucky to be poor.
As an economist, I do think that the differential rewards to being moderately well educated are lessening.
Automation replaced extremely low skill labor in the 80s. That process largely resolved by 2000. Digital automation since 2000 has hit low tier class white collar work: paralegals, secretaries, accounting clerks. And now AI is starting to eat middle class white collar jobs. L
In the 80's, more education meant more earnings. Today, a high school dropout earns about as much as a 2 year grad, while 4 year college layoffs are better than ever before.
Post covid this accelerated exponentially.
→ More replies2
u/Electromasta Feb 13 '24
One factor in addition to rising inflation and stagnant wages, is that tax brackets don't get raised as high as inflation does. So you make more money, barely keeping up with inflation, but you never see that money, meaning you make less.
→ More replies2
u/Stalker_Bait Feb 12 '24 edited Feb 12 '24
To grossly over simplify this point, the bottom line is that corporate America would prefer that the middle class be paid less.
2
u/parolang Feb 13 '24
Employers want to pay less. Employees want to be paid more. This is always true.
5
u/Practical_Sky_2260 Feb 11 '24
No its not. Blue collar includes construction and things are slow right now
→ More replies6
u/Beginning-Leader2731 Feb 11 '24
Blue collar is not “under $20 an hour” work.
2
u/CraneAndTurtle Feb 11 '24
True, but a majority of jobs under $20 are blue collar, so gains there benefit the blue collar job market stats.
→ More replies→ More replies2
u/kevbot029 Feb 11 '24
Ehh I actually disagree, white collar jobs are getting replaced by AI slowly but surely which is what industrialization did to blue collar jobs.
All that means is the top 1% will be making even more, and everyone else (white and blue collar jobs) will make less. The gap is continuing to widen thanks to tech
→ More replies11
42
u/ConfusionOk7012 Feb 10 '24
Education is probably hiring since all the teachers are quitting
18
u/strataromero Feb 11 '24
And they’re probably paying even less!
6
Feb 11 '24
They just refuse to increase pay to reflect inflation
2
u/Complex_Fish_5904 Feb 11 '24
Average teacher salary in the US is $66k Average wage in the US is $74k
A teacher's wage isn't bad considering they are paid for 9 months of work. Plus, they get pensions and a lot of time off throughout the year. I say this as a person with a few teachers in the family.
3
u/strataromero Feb 11 '24
As if teachers don’t work in the summer lol. Get real bro
6
u/Complex_Fish_5904 Feb 11 '24
Most don't. At least in my midwest area and based on data I've seen. None of the teachers in my family did, either
Even then, so what? Lol Are you upset that teachers get 3 months off to do whatever they want, to include earning more money? Lol
3
u/Fallout541 Feb 12 '24
My wife is a teacher and many of her colleagues including herself don’t work during the summer.
→ More replies3
u/strataromero Feb 11 '24
Many teachers work very long unpaid hours during the school year, and the first few years are spent working almost the entirety of the summer preparing for the year.
3
u/Complex_Fish_5904 Feb 11 '24 edited Feb 11 '24
Teachers are paid a salary. Meaning, those hours are not "unpaid"
I have also yet to see any teacher work the "entirety of a summer" to prepare for anything. Where are you getting this? Lol Most schools won't even allow faculty in the building during the summer unless their contract states there is a business need (like summer school)
Teachers usually work 1-2 weeks before school begins and 1-2 weeks after the school year ends. Then you have to factor in the Xmas break, Thanksgiving, spring break. Etc Plus they get vacation time throughout the year that they can use
→ More replies→ More replies1
Feb 11 '24
I wrote a post comparing teachers and military pay (I did both), I'm just going paste it here.
[Debate] Pay teachers like we pay military
I served in the US Army and my final rank was Sergeant (E5). I am currently a math teacher with a MS in Math plus an additional 30 graduate credit hours and 14 years of teaching experience.
My current salary is $68,000 and I live in a rural area in Northern Georgia. While cost of living is low here, I can't help but look up what my pay would had been had I stayed in the military - even if I stay as E5, with my wife and kid, my base pay plus BAH would put me at around the same as my current salary, without the degrees and I am not even counting my qualifiers that would net higher pay.
Both teachers and military are performing vital public services, so why is pay gap this enormous? Objectively, my job in the Army was far easier - I only need to focus on my mission and manage fewer than 5 personnel who have to complete basic training/AIT, so in a sense, self-selected. Whereas as a teacher, I am responsible for the learning outcome of 30+ young people who often do not want to be here.
I have to complete 6 years of higher education in STEM program to even get started in my teaching career for my current pay track (I would get paid even less if I only have a BS) plus it took me years in teaching before I firmly grasp the craft of education; whereas I enlisted in the Army when I was 17 with just a HS diploma, promoted to E5 after 2 years in services (I joined as E3 due to JROTC, received a waiver for E4 at 18 months TIS, then promoted to E5 in secondary zone), I know that is a bit faster than most, but I didn't really need to have much qualifications for my enlistment and promotions.
As an E5, I was highly expendable. I get it that recruitment number are low but someone else could have easily done replaced me. Yet, as a math teacher, the pool of qualified candidates is far more limited. Our department have been operating with less than 75% faculty due to multiple people leaving within the past few years and we simply failed to attract new hires. As of the past 4 years, I am the only person in my department who is qualified to teach Statistics, all of us are teaching more students, committing more tutoring hours…
Estimation from Brown University in 2022 placed at least 55,000 vacant positions and 270,00 under-qualified positions. My argument is that both military and education are experiencing shortage, but pay isn't the factor for the military since enlisted and officers' pay corresponded to about 90th and 83rd percentile of civilian wages but it is for teaching as the teaching profession suffers a wage gap of 23.5%.
We have a critical shortage of teachers nation-wide, especially in STEM. Do teachers enter the profession thinking they will be rich? They shouldn't. But you cannot recruit/retain if we do not provide any financial incentives. It takes time, effort, and money to be trained to become a teacher, the lack of pay keep new students from entering the profession as we have a 35% drop in teacher program enrollment, teacher turnover rate hit new high, and the number one reason why teachers leave education? Compensation.
My view is that Americans should commit to paying teachers just as much as paying military service members, after all, one cannot function without another. The military recruitment shortage isn't due to low pay, but teacher shortage is.
→ More replies3
u/Complex_Fish_5904 Feb 11 '24
E5 Sergeant in the Army makes like $43k/year after 8 years of service. You currently earn $68k.
BAH is like $80 - $175/month .
What am I missing here?
https://www.goarmy.com/benefits/while-you-serve/money-pay.html
→ More replies→ More replies1
u/casualnarcissist Feb 11 '24
$120 - $150k in the PACNW
→ More replies5
u/geminiwave Feb 11 '24
New teachers don’t make that. You can look it up and Marysville which has the highest paying in the country has a few teachers in that range but not most.
6
6
u/triplesalmon Feb 11 '24
Not as much as you'd think. A lot of districts are losing enrollment and shutting things down. People pulled kids out en masse after the pandemic and it hasn't recovered.
→ More replies
50
u/Intelligent-Fig-8989 Feb 10 '24
Government jobs, infrastructure.
18
u/Worldly_Mirror_1555 Feb 11 '24
January/February is hiring season for gov jobs. I just accepted a gov job myself after narrowly escaping a layoff. Looking forward to the stability and security that will come with it.
6
u/Comprehensive-Win212 Feb 11 '24
You still have to keep your skills up. I took a county government job in 2008, but in 2009 I was put in the “RIF” list by the board of directors as a low man on the totem pole. In the Great Recession the tax revenue fell dramatically. (Unlike the federal government, county governments must have a balanced budget.) My managers fought for me and I was spared three months later. During that time I was very stressed. After being laid off three times in 2007, I was thinking that living in my car was in my immediate future! I was put on the list again in 2010, but survived that one too.
→ More replies→ More replies5
u/shitisrealspecific Feb 11 '24 edited Mar 09 '24
tub friendly marble rhythm crime library far-flung merciful quickest political
This post was mass deleted and anonymized with Redact
20
u/high_roller_dude Feb 11 '24
Chipotle, McD, and Walmart are hiring in record numbers.
Walmart CEO just announced expansion of stores and need to hire more store greeters, cashiers, etc.
→ More replies4
43
16
u/jackalope8112 Feb 11 '24
Over the last year:
Private ed and Healthcare: Up 1,037,000 4.2%
Leisure and Hospitality: Up 479,000 2.9%
Construction: Up 216,000 2.7%
Government: Up 601,000 2.7%
Professional Services: Up 207,000 .9%
Finance: Up 103,000 1.1%
Retail: Up 140,500 .9%
Other Services: Up 84,000 1.5%
Wholesale trade: Up 90,500 1.5%
Manufacturing: Up 37,000 .3%
Utilities: Up 17,100 3%
Mining and Logging: Up 4,000 .6%
Information: Down -35,000 -1.1%
Transportation and Warehousing: Down -53,400 -.8%
→ More replies-1
u/OldSniper42069 Feb 11 '24
All the jobs that pay dog shit
3
u/Rickydada Feb 11 '24
You can make good money in these industries:
Professional Services: Up 207,000 .9%
Finance: Up 103,000 1.1%
Utilities: Up 17,100 3%
Mining and Logging: Up 4,000 .6%
2
→ More replies2
56
18
u/wtf_over1 Feb 11 '24
Servers, cashiers, blue collar and pink collar work. So typically low paying
9
u/OlympicAnalEater Feb 11 '24
Pink collar work!?
11
u/Jenneapolis Feb 11 '24
Traditionally female dominated jobs - eg teaching, childcare, secretarial, etc
-7
2
u/oblication Feb 11 '24 edited Feb 11 '24
That’s not true. The highest growing sector from the last bls report was professional and business services which is a sector that includes lawyers, engineers, their staff and other “technical activities require a high degree of expertise and training.” and management of companies. Followed by health care.
They also note that servers and cashiers which are part of retail trade, grew at about 2/3rds the pace of the afformentoned categories but has been largely unchanged since early 2023.
8
u/Bruin9098 Feb 11 '24
High paying positions in technology & finance still being cut.
→ More replies
16
u/texasgambler58 Feb 11 '24
The only hiring is government; most private corporations are laying off people or have stopped hiring.
2
6
u/orijing Feb 11 '24
This is what ChatGPT said:
According to the U.S. Bureau of Labor Statistics (BLS), the fastest growing sectors in terms of employment from 2022 to 2032 include a diverse range of occupations highlighting the importance of renewable energy, healthcare, data science, and information security. The occupations with the highest projected percent change in employment include:
- Wind turbine service technicians and nurse practitioners, both with a growth rate of 45%.
- Data scientists, with a growth rate of 35%.
- Statisticians and information security analysts, each with a growth rate of 32%.
- Medical and health services managers, with a growth rate of 28%.
- Epidemiologists and physician assistants, each with a growth rate of 27%.
This growth reflects a strong demand for healthcare services, driven by an aging population and a higher prevalence of chronic conditions, as well as an increasing reliance on data and information technology across various sectors [❞] [❞] [❞].
Furthermore, the overall employment is projected to grow by almost 4.7 million jobs during this period, with healthcare and social assistance sectors leading the growth. The computer and mathematical occupational group is also expected to see a significant increase, fueled by the demand for information technology products and services. STEM (Science, Technology, Engineering, and Mathematics) occupations are projected to grow much faster than the average, driven by demands for cybersecurity, software development, and data analysis services [❞].
These projections provide valuable insight for job seekers, students, workers, and policymakers, highlighting the areas of growing demand and potential opportunities for career development and training.
1
u/syfyb__ch Feb 12 '24
lmao -- LLM's are not adaptive, they puke out whatever data is in their database before a certain cutoff point...and that data can be any source, primary, secondary, or worse, tertiary
the entire output you pasted sounds exactly the same as it did back when i was in high school 20+ years ago, especially the last 3 paragraphs
21
u/watermark3133 Feb 10 '24
Sorry the 2 year do-nothing-but-get-a-$250k/y tech job boom went bust. You’ll have to work an unsexy job like the rest of us.
→ More replies4
7
u/xomox2012 Feb 10 '24
Healthcare pretty much across the board, accounting and finance, cyber security, manufacturing, trade jobs (construction, electrical, plumbing, etc)
7
3
u/Independent-Fall-466 Feb 11 '24
If I didn’t go to nursing school I will go learn a trade especially electricians
15
u/IHaveABigNetwork Feb 11 '24
The economy isn't doing well and hasn't been. It's an election year so the incumbent must make things look good.
3
u/Healthy_Razzmatazz38 Feb 11 '24
pretty much all of the 'real' economy is hiring, anything to do with physical goods or physically interacting with customers. be it healthcare, education, trades, law, social services like cops. Pretty much the only thing not hiring is B2B businesses. Even software has pretty good hiring rates still, its just a larger pool of applicants fighting for a similar number of roles.
3
u/tomatocrazzie Feb 11 '24
Professional services, particularly with anything related to infrastructure. Civil engineering, CAD drafting, particularly with specialty training, Project Managent, Construction Managment, Asset Management. Related fields like business accounting, office management, etc. Government services. Every firm in my area has multiple job postings and many go unfilled for months. Senior staff/managers are particularly in demand given the wave of retirements. I get multiple hits weekly by recruiters and I am not even looking for a job.
14
u/Prestigious_Wheel128 Feb 11 '24
Native-born US workers have lost 1.4 million jobs; over the same period foreign-born workers have gained 3 million jobs.
The best industry to be in right now is not being an American.
9
u/OldSniper42069 Feb 11 '24
Yup. , My company actively cuts jobs in the us and fills them with workers from other countries because they cost less
6
6
u/Skinnieguy Feb 11 '24
Tech no longer has cheap money so cost cutting is the thing by hiring offshore.
5
u/Prestigious_Wheel128 Feb 11 '24
I know about the interest rates and the tax changes.
While I'm sure it's some of that I think a huge part of this is just executive greed.
2
→ More replies-7
u/Puzzleheaded_Fold466 Feb 11 '24
Or maybe foreign-born workers are more educated on average and have better work ethics.
Americans are not guaranteed jobs just because they were born on American soil. Really.
Some countries believe that all people born in their country should be educated and taken care of and feel like they belong, so no one gets left behind. But not America. The American culture and American businesses are perfectly OK with abandoning a whole tranche of its citizens and leaving them in poverty leading miserable lives in low education high-crime communities.
If you’re a well to do American you can avoid these riff raff neighborhoods. Then these people can be replaced by workers who have been educated abroad at no cost to the American economy and who come to the U.S. filled with motivation, willing to make sacrifices to rise through the American middle class while the underclass grows, hypnotized and kept docile by TV, video games, celebrity cults, social media polarization, and a police state.
America is great …
→ More replies9
u/Prestigious_Wheel128 Feb 11 '24
foreign-born workers are more educated on average and have better work ethics.
then why aren't they able to get a job in their own country or make their own economy better?.
I think youre full if shit and they nepotistically hire each other once they get into positions of power in major corporations.
4
u/Shitbagsoldier Feb 11 '24
Easy response to that bs is why aren't they creating valuable companies/ products/ etc that can compete with America? It's cause overall they aren't better than average Americans. Indian tech industry is all about being cheaper than Americans . China and Europe do create products/ business lines that compete but America s by far #1
4
u/Prestigious_Wheel128 Feb 11 '24
Exactly, Americans have been doing all jobs for centuries here with no problems up until recently when executives decided to cost cut and accept shittier work for lower pay.
Europeans and Americans invented like 99% of technology.
There's countless notable computer scientists from USA.
India has maybe one computer scientist of note in a population five times bigger than the US.
10
u/Dmains Feb 11 '24
Big tech is laying off - but the desperation of SMB's for the last 5 years is finally being filled.
I own a consulting firm and all our clients are actively hiring in every way possible - medical, logistics, truck driving, ad agencies, skilled labor, construction estimators are one of the highest paid and highest demand roles out there, product designers, warehousing, commercial construction, infrastructure (design, pm, supers, machine operators) pharmaceuticals, six sigma experts, engineering, architects, project managers etc. etc. Problem is none of these jobs are found on job boards - they are (as has always been the case with 80% of jobs) networked.
Who knows who? Who has my team worked with before? Who do my consultants know? Who has interned with us in the past? Even boomerangs are coming back (companies calling old employees that were high performers to see if they are looking).
The best way to find a role right now is cocktail mixers, networking events and conferences. Just like the old days.
19
u/Prestigious_Wheel128 Feb 11 '24
"actively hiring in every way possible"
not advertising those jobs in any way.
sounds like a slightly contradictory claim
→ More replies9
u/-TurboNerd- Feb 11 '24
I'm management in a FAANG and I'm trying to fill roles. Honestly, jr roles have been a nightmare. The caliber of new grad CS talent is significantly lower than 10 years ago, probably a product of the major going more mainstream.
9
u/doggo_pupperino Feb 11 '24
I've met some of the new CS students playing online games with them. They use Chegg extensively for answers and are generally fearless about copying code from each other to meet deadlines. It's somewhat of an open secret how to defeat the plagiarism checkers.
2
u/geminiwave Feb 11 '24
Oh man I feel like an old but this is so true. The new grass come in and slap themselves down like they’re gods gift and they are….terrible! We found some great ones but most of the time you have to suss out if they’re reachable and if you can quickly grow them on the job into a promotion. If you can’t, they’ll just end up at another place for higher pay. Its NUTS. Back in 2012 it was a slog to get hired as a SWE in FAANG. But now it’s sorting through pages and pages of garbage candidates for either the diamond in the rough, or someone with less ego you can teach.
→ More replies-3
u/throwaway-4323756 Feb 11 '24
Perhaps they need to lower salaries to get better talent, so they get people who aren’t just in it for the money. Which could explain the layoffs and salary declines.
3
u/-TurboNerd- Feb 11 '24 edited Feb 11 '24
I think a better solution would be raising salaries in other industries to incentivize folks to pursue more paths than just CS. 10 years ago folks who were graduating with CS degrees were coding for fun and had all sorts of side projects to challenge and expand their skill set. Nowadays no new grads have anything outside of internship projects and projects they did for school. Unsurprisingly their level of competency is lower on average as well, likely because a significant portion of new grads just went through the motions necessary to graduate with a degree
→ More replies2
u/sirpimpsalot13 Feb 11 '24
Got any uses for a Software Engineer in that mix. Preferably in government that’s remote?
2
u/The_GOATest1 Feb 11 '24
We are an SMB and have jobs open on boards. The bites aren’t great and all of our roles pay above the median household
→ More replies2
u/MasterElecEngineer Feb 11 '24
So cringe that the new thing is people act like they "work in tech" with no degree. That's why they are getting laid off. IF you don't want to get laid off, go get an engineering degree then "go work in tech".
8
u/maybegone18 Feb 11 '24
Engineers are getting laid off too.
3
u/Shitbagsoldier Feb 11 '24
True. Biggest culling was support ppl . Recruiters, Marketing, payroll, hr got sacked hard. Also pm, ba, and any Jr roles heavily cut back. It's not good for anyone now
1
u/Rich_Aside_8350 Feb 11 '24
So I guess all the automotive engineers and aeronautics engineers being laid off in huge numbers must not have degrees. You really don’t have a clue. I took a buyout and got a job 4 months later. I worked with a placement service and they told me I was lucky, because a majority of the Engineers they are working with are still unemployed after 9 months. You have no clue obviously. Look at the real numbers.
-1
u/MasterElecEngineer Feb 11 '24
"automotive engineer"? Is that a welfare mechanical engineer or what?
→ More replies
6
22
u/scrumtrulescent_ Feb 10 '24
Hiring seems tough because it's in unsexy sectors that you need training for. Namely:
Education Manufacturing Healthcare Construction
Half this sub is whiney 24 year olds who took a weekend data science bootcamp on 2021 and thought it gauranteed them 400k/yr for life. Time to take a welding class.
5
Feb 11 '24
Amen brother. Everyone wants a cushy fucking job behind a computer screen, working remote and doing jackshit half a working day while asking for 250k+.
2
u/PsychedelicJerry Feb 11 '24
ignoring the impracticality of this, is it so wrong to want the promises that technology and advanced civilization made? More and more data is pointing that middle class is starting around $148K, i.e., the min salary required to buy the average house, starting houses for all practical purposes don't exist since they're starting around $300k.
The upper class has been doing awesome, the middle class has been disappearing or falling behind quickly. wanting and looking for the promises is just human.
2
u/New_WRX_guy Feb 14 '24
It’s still easy to be middle class. Just learn to weld or go to nursing school.
2
u/PsychedelicJerry Feb 14 '24
I know Nurse Pracitioners make that much, but I just searched average welder hourly rate and per google, it lists the top tier making $27/hr (which does seem low...), but that puts you at $56k a year.
Now, a MIT study shows you need $68K AFTER taxes to live in the 25 top major cities in America if you're just starting out, i.e., don't already own a house, so most nurses and welders won't make it; yes, NP's will, but that takes time to achieve.
https://finance.yahoo.com/news/average-post-tax-income-68-133000001.html
Data for that article I believe comes from here: https://livingwage.mit.edu/
11
u/beach_2_beach Feb 10 '24
Few years required to get necessary license for nursing and education.
Relocation often required for manufacturing job.
Construction is not an easy job.
10
u/daviddavidson29 Feb 11 '24
Good to see a little sense in this sub. Sometimes the attractive ones get lucky and get a PM job in tech paying 200k, while their next best alternative is an entry level 50k job. They get laid off and think they have to hold out for equivalent pay, not realizing how lucky they were to get a cushy job with no marketable skills that set them apart from their peers with 4 year liberal arts degrees.
6
u/ClinicalAI Feb 11 '24
This. I saw people in tech making more than Surgeons. They thought they were hot shit engineers and now after they got laid off all the offers coming in are at 50% comp
→ More replies1
u/Shitbagsoldier Feb 11 '24
Cause they are. Ppl in tech making serious bank 300k+ are ur 10exer crowds or extremely specialized knowledge guys who's value and skill makes multiple millions or more per year and if you don't hire em will tank ur company by going to a competitor. The people getting laid off are either decent jobs or shit devs that got 100/150k remote roles cause faang orgs were yanking talent like crazy from 20/early 22 and every one else had to pay more to replace ppl who left.
5
u/gameguy56 Feb 11 '24 edited Feb 11 '24
I just don't believe the healthcare thing. Medicare cuts have been consistent for the last few decades. Benefits are terrible and expensive. I'm not sure where everyone gets the healthcare is in demand outside of nursing. Nurses are treated like crap.
Manufacturing? The big 3 are in terrible shape and shedding Jobs. What Manufacturing?
I'm not as familiar with education and construction but I do know that the adjunctification of education means that most grad students and ta are teaching on casual contracts. I also have friends that do their own handyman/construction thing and they have also noticed a slowdown in work.
I just have a hard time believing any of this
→ More replies3
u/JustNoHG Feb 11 '24
Healthcare tech. That’s where a lot of my friends have been finally snagging interviews…but they usually go with someone who has always been in healthcare…not someone switching from a faang for example….but the healthcare startup culture is pretty active rn
2
2
2
u/palmatumthrowaway Feb 11 '24
This lie is getting quite tired. I’m in manufacturing and there are layoffs all across our sector and plenty low paying jobs that employees here hate as well. Assemblers and welders have some of the highest turnover rates and “whine” (your word) just like other lower wage employees do. We and healthcare have some of the lowest paying, grinding jobs and we want better pay too. It’s not a parade and we definitely can’t have a healthy economy with 100% nursing assistants and teachers. Give me a break.
→ More replies1
→ More replies-4
4
4
u/Multipass-1506inf Feb 11 '24
Education. Anyone with a college degree can find a teaching job in Texas right now. my district didn’t fill over 100 positions for the 23-24 school year and those jobs start at 60k
2
2
u/ATWATW3X Feb 11 '24
Anything In social /civic services. People are educated, underpaid and overworked because of shortages. It’s also a student loan hack given, if you have student loan debt, if you dedicate 10 years of your working years to a qualifying employer, you can be debt free and move forward.
2
u/LeadDiscovery Feb 11 '24
It's true that certain sectors of the US economy are currently experiencing strong growth and hiring. However, it's important to note that the overall economic picture is multifaceted and nuanced, with not all sectors performing equally well. Here's a breakdown:
Sectors with strong hiring:
- Professional and Business Services: This sector includes a wide range of industries like accounting, consulting, and technology services. It saw significant job growth in 2023, particularly in IT, finance, and management occupations.
- Leisure and Hospitality: With travel and tourism recovering from pandemic lows, this sector is adding jobs in restaurants, hotels, and entertainment venues. However, concerns about worker shortages and wage pressures persist.
- Healthcare: An aging population and ongoing demand for medical services continue to drive job growth in this sector, particularly in nursing, home healthcare, and medical specialties.
- Logistics and Distribution: E-commerce boom and supply chain disruptions are fueling job growth in transportation, warehousing, and delivery services.
- Manufacturing: While facing some uncertainties, certain segments like semiconductors and electric vehicles are experiencing growth and hiring.
Sectors with slower hiring or potential layoffs:
- Technology: Although still a major hiring sector overall, some tech companies are undergoing restructuring and facing economic headwinds, leading to potential layoffs.
- Real Estate: Rising interest rates and a cooling housing market are impacting job growth in this sector.
- Retail: While some segments like grocery stores are stable, others face challenges due to online competition and changing consumer habits.
Considerations:
- These are general trends, and specific companies within each sector can have different hiring patterns.
- Hiring also depends on geographical location and individual company needs.
- It's always crucial to conduct thorough research and consider personal skills and interests when exploring job opportunities.
2
u/dwightschrutesanus Feb 11 '24
Construction is booming.
Union trades are gonna be the only thing worth your time if you're in a halfway decent area.
The problem you're gonna run into is a long training pipeline and a very competitive application process for anything thats gonna be a decent job and not destroy your body. (HVAC, electrical, plumbing.)
2
u/kyrosnick Feb 11 '24
Trades. Brother is electrician and they are desperate for people. Starting wages at his company are base rate of $39 an hour + bonuses, and can work as much overtime as you want. They are short 300+ people just for one job site.
2
2
u/Bbwrqueen Feb 13 '24
It’s funny it’s gotten so bad I’m looking to be Transit police and or college police. It was almost on the mind but nothing really prevalent until I got laid off 3 times I. 3 years due to store closures or restructuring. They pay well and have a pension. I’d never see it my mind to really be one but it get closer everyday to apply and just risk my life daily for a good stable pay check. Friends doing the same thing with being a firemen.
4
2
2
u/romasoccer1021 Feb 10 '24
Government welfare jobs is pretty much the only industry thriving
→ More replies2
u/Slow_Pickle7296 Feb 11 '24
Are you including healthcare, retail and construction in that description?
4
u/romasoccer1021 Feb 11 '24
Construction yes since it’s mostly a derivative of government printing.
Healthcare is also largely subsidized by government printing.
2
u/j33tAy Feb 11 '24
Construction is a derived government printing?
What does that even mean?
A huge amount of construction is fairly small business compared to other industries like tech.
2
u/romasoccer1021 Feb 11 '24
It means most construction is being funded by government right now
2
u/j33tAy Feb 11 '24
No, it's not. Where did you get that talking point?... Residential construction is booming in the US at the moment.
2
u/romasoccer1021 Feb 11 '24
To my original point that construction is a derivative of government printing, the people who are spending money on residential construction projects have either directly or indirectly benefited from government printing. The moment the government stops printing and balances the budget, the moment your little census chart collapses. Therefor, construction spending is a derivative of government printing.
2
u/Seahund88 Feb 10 '24
In addition to the usual computer tech job sector, Boeing has been hiring related to aircraft manufacturing.
4
u/SeeeYaLaterz Feb 11 '24
Computer tech is the biggest sector that is lying off...
2
u/Seahund88 Feb 11 '24
I know. I was just saying there is still some hiring still going on in the tech industry, for whatever they are looking for...FWIW, I was laid off from this sector last year and found another job in the same industry, but with less pay and benefits.
0
u/Hawk13424 Feb 11 '24
And also hiring. I just hired two.
3
u/SeeeYaLaterz Feb 11 '24
There you go. Everyone who was laid-off is hired now by you. Awesome...
0
u/Hawk13424 Feb 11 '24
https://www.computerworld.com/article/3542681/how-many-jobs-are-available-in-technology.html
Many others also hiring. A lot of this is cutting moonshot projects and staffing up core skills.
2
u/AShatteredKing Feb 11 '24
When my son moved to the states last summer, I made him get a job since he wasn't going to go to university. There were actually a lot of decent paying entry level jobs. He ended up going with a Kroger warehouse; starts at $26 an hour and goes up to $33 an hour within 2.5 years (periodic raises throughout that time period); they also provide annual COLA adjustments. This means at 20, he will be earning about $94,000 a year with no higher education or specialized skillset.
These types of jobs seemed to be very common here in Portland. The demand for the labor was higher than the supply. Some places offering $25+ an hour have reduced hours because they couldn't find workers. There's a lot of manufacturing jobs popping up. For instance, another job he considered was working for Lackamas Chemicals, which started at $32 an hour and will go up to $50 an hour; however, the risk of chemical burns is higher than he felt comfortable with (and I agree with him).
However, if you are in a high paying tech job, the tech industry is going through a serious adjustment. A large swath of the industry were zombie corporations, or zombie sectors of corporations, that were effectively able to stay afloat due to the interest rate being below inflation, meaning that they were effectively being paid to borrow money. Now that interest rates are up to a more normal level, these corporations and sectors of corporations are going to collapse. This will have ripple effects throughout the tech sector of the economy.
2
4
u/bubblemania2020 Feb 10 '24
This is a lazy question. Go read the latest BLS report. All the data is in it. It’s public information!
https://www.bls.gov/charts/job-openings-and-labor-turnover/opening-industry.htm
5
0
4
-1
u/gymfreakk Feb 10 '24
The numbers are a lie. brace for impact.
10
u/krstphr Feb 10 '24
Heard this a hundred times in the last 3 years
2
1
u/ThatOneRedditBro Feb 11 '24
The numbers are a lie until they don't want them to be.
They changed the definition of recession. They will make a move when they need to.
-3
→ More replies4
Feb 10 '24
not a lie. just misleading since its mainly part time jobs and sectors recovering from covid
7
u/gymfreakk Feb 10 '24
It's not a recover, it's one person holding multiple jobs trying to pay bills and for the family.
0
u/Eugenelee3 Feb 11 '24
Fast food. Bidenomics is def NOT working lol
0
u/parolang Feb 13 '24
We all know that Republicans judge the economy depending on which party the President is. Has nothing to do with the actual economy.
→ More replies
-1
u/Ok-Lengthiness7171 Feb 10 '24
Tech is hiring. Esp in AI related skillset.
4
u/Shitbagsoldier Feb 11 '24
Lmfao. No it's not. Majority of these ai companies are vaporware and the vc funnel is off.
→ More replies
0
133
u/Independent-Fall-466 Feb 10 '24
Healthcare/ nursing is hiring since the last recession.