Rapid Thoughts

Happy Thanksgiving, everyone!

Hopefully you all enjoyed some family time and weren’t thinking about work.

I spent the day with my in-laws watching football, drinking some Cabernet, and eating a whole lot of turkey.

But we’re back beta testing these daily quick job market updates for you.

Connor Libutti (@ConnorLibutti) came up with the name “Rapid Thoughts”, so gotta shout him out real quick! He’s a great dude and someone you should def follow and can help you on your job search journey & career.

1: Gig Economy Revenue Reaches $3.8T

Yes, T as in Trillion!

This includes contract work through staffing agencies, temp work, freelance, working SOWs via consultancies, and temp work via platforms like fiverr and upwork.

Employers prefer this type of work because it’s much faster and easier to scale up and down their teams depending on their needs.

Obviously everyone wants to work as an FTE. But if you’re a junior candidate looking for more experience, or a senior who’s out of work, don’t sleep on contract to get you in the game.

Source: SIA

2: Amazon is blocking promotions for people who aren’t onsite 3x/week

Well, I thought they were firing them.

But I guess they are keeping tippy top performers for now, but blocking their promotions if they’re not onsite.

This sounds harsh, but it’s a common theme through many F500s. Most are going the RTO route and are telling workers to get on board or get out.

Source: BI

3: Fannie Mae believes a mild recession is possible

They believe a slowing economy can lead to a mild 2024 recession, but return to growth in 2025.

Source: SIA

4: OpenAI Competitors looking to poach talent

No surprise.

Google, Salesforce, Microsoft, and many more looking to poach OpenAI employees after a controversial week.

Personally, I do the same thing. If a company has negative headlines - bad press, layoffs, restructuring, etc - I target employees from there for other openings.

Source: WSJ

5: Unlike Fannie Mae, Goldman thinks 2024 will better than you’d expect

Source: Axios