While the US still has a “shortage” of blue collar labor,
white collar jobs continue to get trimmed.
Job cuts in finance?! Say it ain’t so
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Finance industry.
Tech industry.
Streaming video industry.
Anything white collar.
They will simply have to retrain then.
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Wow and here we can’t get enough folk in office here in Houston. Job market is so hot right now. Grads expecting, and getting in some cases a starting salary of $130k.
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Engineering officers in Houston might as well fit rotating doors as staff are moving from office to office as rates of pay continually rise almost monthly. It’s insane here at the moment. Most of the demand in jobs is due to the insane number of drilling licenses that have been issued in the last couple of years so operators are running to get projects on line
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That is good to hear.
If Houston-oil mirrored the greater economy, you would be seeing
“I got too many engineers and managers and not enough roughnecks willing to work up a sweat and get dirty.”
There is hope. It’s good to know that “true on average” does not mean “universally true in every market and industry.”
Is it true on average? You listed two industries.
There is a significant labor shortage in the legal industry for example.
After the 90s it’s amazing that yet another tech bubble is bursting.
Chart belows from June, at that time tech had already begun to lay off heavily, but blue-collar was still in shortage.
Link below is from Dec 6. It shows NBC recognizes the lay-offs are across all white-collar jobs.
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From the article
Among the brand-name firms announcing job cuts or hiring freezes recently, according to a list compiled by Reuters: Amazon, Citigroup, Intel, HP, Microsoft, Johnson & Johnson, Phillips 66 and the Walt Disney Co.
It has the makings of a “white collar” downturn. And while tech sector layoffs have largely captured headlines, it’s far from the only industry facing job losses. Last Friday’s employment report from the U.S. Bureau of Labor Statistics showed significantly slower hiring or outright job declines across a range of white-collar industries. Notably, professional and business services
Thank you. That’s what i was looking for!
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It’s good of you to ask. I’ll never lie to you, but a few weeks ago somebody (Ben Natuf I think) asked me to prove a statement I made, and it turned out my info was 8 months old and based on the 12 months preceding that. (Ooops. My bad.)
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There is also a shortage of rig staff as well mind you that’s ok as most of the ltd domestic fleet of MODU’s have relocated overseas
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