Welcome to the Causey Consulting Podcast. You can find us online anytime at CauseyConsultingLLC.com. And now, here's your host, Sara Causey.
Hello, Hello, and thanks for tuning in. This is another instance where I had not planned on dropping any kind of bonus episode tonight. But here we are, things are just moving quickly. We're in another one of those cycles where it's just one thing after another and many things going on simultaneously, which I don't think is an accident. As I've said on the air before, the media has the tendency to hold up some shiny object and say, Hey, look over here at this. Meanwhile, there are all of these other things going on, that you're not paying attention to that could have a real impact on your life yesterday on LinkedIn, and I will drop a link to this post so you can view it for yourself. Taylor Borden, editor at LinkedIn news made a post about LinkedIn, the workshift, where they talk about the job market, the economy, etc. They give you their analysis for whatever that's worth. And then this post, she writes, the US economy added 150,000 payrolls in October. That means job growth slowed to a pre pandemic pace. Does this slowdown align with what you're seeing in the labor market? How are you feeling about your own job prospects? Share your thoughts in the comments below. And there was one of the responders who wrote as a job seeker that supports what many of us are experiencing, it's been far more difficult finding employment than I expected. Someone else writes, I agree it has been much harder than what I thought coming from someone with 40 plus years of experience. I thought I would find employment easily. But it is not the case. Someone else writes during the last six months, I've been to the third interview with multiple companies to have them delay the job posting. Either conditions are tightening or organizations are conducting talent fishing expeditions with their job postings. Yeah, so my question here is, who were they listening to before they thought it was going to be easy, or they thought at least it was not going to be so difficult. My immediate question is, well, who were you listening to? What information were you gathering that made you believe it was going to be easy? Because here's the deal. You know, I don't get into false modesty, men are allowed to brag on themselves all they want. So I'm gonna sit out here and do the same thing. I have told you repeatedly on this podcast, and on my blogs, plural, including the job market journal, what I was seeing in real time, I was telling you, I did not believe the BLS statistics as far as I could throw them. I didn't think we had anywhere near a less than 4% unemployment rate, the goat of all job markets, churn and burn and doing great. So the question is, what the hell were these people listening to that made them think it was going to be easy? What false sense of security where they load into and by WHO, that's what I want to know. I have said many times, that we're now past the point. We're past the point where it's time to get strategic about who you're listening to. and for what reason. For a while, I would say, hey, it's an auspicious time, you should really be paying attention. Think about who you're listening to. Now, we're past that point now. And this is proof positive. Oh, well, I've been laid off and I didn't think it was going to be this difficult. naivete is coming at too high of a price. If you think the job market doesn't matter, you think the economy doesn't matter. You think what's going on in the housing market or the stock market is irrelevant to your life? That is your choice. But are you going to be the next person that's on social media going would think it was going to be this difficult? I don't think it was gonna take this long. Wake up. late yesterday slash earlier today, the news broke about WeWork filing for bankruptcy. The New York Times writes, we work files for bankruptcy amid glut of empty offices. The company filed for Chapter 11 bankruptcy protection in New Jersey as part of what it described as a comprehensive reorganization. There are various other articles talking about how it was once a highly, highly valued company like I don't know $47 billion, and then now they're filing for bankruptcy. The times are changing. Yesterday on the New York Post, it was reported Citigroup is mulling layoffs as part of CEO Jane Fraser's project Bora Bora report says and so that's going to be to the tune of like 24,000 Listen, people. Think about that think about the volume of people that could find themselves out of a job right here at the holiday season. On LinkedIn today, we find companies say demand is weakening. With almost all s&p 500 companies having reported earnings, the message is clear sales are disappointing, the fewest since 2019 beat their revenue estimates. According to Bloomberg intelligence, one of the most frequently repeated phrases on earnings calls this season has been one of weakening demand among consumers. That's even as profits have risen. Not surprisingly, revenue warnings for the next quarter are also increasing along with signs that company's ability to raise prices will be constrained in quote. So again, I'm just the the main thing that I want to drive home to you in this episode is who are you listening to? and for what reason, you'll know the tree by the fruit it bears, if you're listening to some commentator, some social media influencer or some whatever, and they're giving you bad intel. The things that they predict don't come true. They lead you down a primrose path and they tell you that everything is sunshine and roses churning and burning do and great economy is resilient. job market is robust to legit open jobs for every one unemployed person. If they're telling you these things, and then you get out into the real world off of social media and try to find a job and you can't. In my opinion, you need to re evaluate who you're listening to. and for what reason. And if you do get steamrolled this time around, you should look at it as a learning opportunity. My friend, Bill used to always say a hard lesson is a good lesson. A hard lesson is one you don't forget. Damn if it ain't true. If you get steamrolled this time around, you'll have to pick yourself up, dust yourself off and say never again. I won't do this again. I won't listen to hot air and hopium, I won't listen to bullshit artists. I won't listen to social media influencers, who only care about likes, clicks, and shares who pander to me and tell me what I want to hear. But then when I get out on the job market after a sudden layoff after a sudden job cut after a sudden company closure, and I can't find jack squat. It's taking me months or maybe even over a year to find something suitable. I won't do this again. I won't ignore job market conditions and I won't listen to BS artists that are telling me what they think I want to hear to pander to me to placate me. Be Smart, Be judicious. Even though in my opinion, it's past the point to do anything to meaningfully prep. It's past the point to only just now start listening to people that tell the truth as opposed to liars and con artists and grifters. The best time to plant a tree was 20 years ago, the second best time is today, there may still be a way for you to do some kind of something to pull yourself up out of the hole that you've dug yourself into by listening to nonsense. Stay safe, stay sane, and I will see you in the next episode.
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