Job market is about to cool off

Interesting

A few of my fellow tech homies got cut this week. Various companies.

The numbers make a little more sense when you look at the context.

Women’s jobs got crushed, and many more decided to stay home. Their portion of the labor force had a dramatic increase while men’s fell. Post pandemic recovery is going to be more apparent there. We saw a similar pattern coming out of the great recession.

Men’s participation rate fell, although they still added jobs.

We are seeing a pattern where some segments are recovering fast, and others are on shaky ground.

Wal-Mart is a great bell-weather and they are letting their workforce decline by attrition in the stores and warehouses, and will have corporate layoffs.

Finance will be ugly into the end of the year, especially corporate finance, IPOs have dwindled pretty dramatically and revenues are shit.

Tech is already seeing reductions.

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Same here.

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One of my wife’s clients is a fintech company that is supposed to IPO later this year. They’ve been prepping for it since 2019. It has created real turbulence and churn within the company. Will be interesting to see how that shakes out.

With these numbers there’s no way we’ll see a rate hike pause from the fed in September. And if the inflation number comes in hotter or the same, I would not be shocked to see a 100 bp rate hike in September.

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It is nuts because SPAC deals were flying out the window. There were too many to keep track of and they came to an abrupt halt.

Lots of IPO deals on the shelf. My wife is in p/e and they have two on the shelf, one which was supposed to go public via spac and another IPO, they decided to wait for a better environment.

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I dont like AWS either but 60k more i’d try a qhole lot harder to develop some patience with it

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I know it’s because they’re stressful jobs that don’t pay that well, but there are a ton of job openings in hospitality here in CO

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