Remote Work Retirement

Here We Go Again: Another Hot Job Market Report

• Camille Attell

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In episode 89, Camille talks about the hot job market for 2024, including the effect foreign companies are having on our economy and remote job market.

Be prepared to have an enjoyable time without charts and graphs, but a down-to-earth report on how the job market is setting the tone for 2024. Last year Camille predicted the strength of the employment rate. Listen as she talks about how she sources her information and her predictions for this year. She will be discussing this throughout the month of February.

And let’s not forget what she has called the “elephant on the room”: Camille as a singer? Hmm …  And even though the subjects she brings to the podcast are serious and important, affecting all of us, she has decided to take a slightly more light-hearted approach this year, loosening up and letting her awesome personality show through.

So, music references, some singing, and what made the January job market so unexpectedly hot. Enjoy.


If you want to learn more about how to leverage your digital products or service visit:
www.camilleattell.com/remoteworkschool

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www.camilleattell.com/remote-training

If you have suggestions for the show, you can contact Camille via Instagram: @camille.attell


 **DISCLAIMER: This podcast is not a substitute for professional consultation. For any retirement or income-related matters, it is best to work with a professional advisor.**
 
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Yeti Stereo Microphone-18:

In episode 89, here we go again with a hot job market report.

You're listening to the remote work retirement show. I'm your host, Camille Attell. And this is the only show that helps semi retirees figure out the remote work options. I believe the remote work is the new retirement plan and that many retirees have both the ability and desire to work, how they want so they can live how they want. Let's dig into today's episode....

Yeti Stereo Microphone-19:

Well, hello. Let's kick things off by talking about the elephant in the room, which is me singing. At the top of the podcast. I don't know if you recognize the song. It is by a white snake. Do you remember? Here I go again. All my own. Well, when I was trying to figure out what the title of today's episode should be, that's the song that hit me. And I thought it made sense if I changed the lyric just a little bit, because it's another hot job market report. And it defies the odds, so it kind of fit. Here we go again. With another hot job market report. So I want to talk about that because I think that this job market report sets the tone. For the year now, I'm not saying that we're going to have a hot job market report every single month this year, but I will tell you that last year, I just kept predicting over and over again, the strength of the employment rate. And I think I just have a pretty good handle on what's going on and I, it's not because I'm a statistician, it's not because I'm a. Uh, financial person or I, you know, An economist or anything like that. In fact, I'm just not that smart. Oh, what I do as I just talked to people and because I have so many folks inside of remote work school, and we're talking a lot about what's happening to them in the workforce. Are they getting jobs? Are they losing jobs? Are they changing jobs is their employer making them come back to the office. Are more jobs being created. Are they getting promoted? Are they getting job offers? I seem to have my finger on the pulse of, of what's happening out there. I also will say that I do my research and I subscribed to a lot of different publications, such as business insider. I read different magazines, like the economist. And I look at things really holistically. So I think that's why last year I was, I kept thinking, no, I really think that the job market is really going to stay steady. And, uh, for some folks who wanted to debate me, I also said that remote work would still stay pretty strong. And while we did see some layoffs in the tech industry, remote work still exists. Is it harder to find? Yeah, but not, not that much. I mean, it hasn't decreased that much. It has been replaced by a lot of hybrid roles. And for a lot of the folks who listen to this show, they don't want to work hybrid. They do want true remote work. So I will be talking about all of that and more throughout the rest of this month, because it's a lot to talk about in one episode. It's like trying to eat the whole elephant. When really you should take one bite at a time. By the way can you believe I just made two elephant jokes in one episode without planning it. I don't know how this happens. Okay. Uh, hopefully you can tell that I'm having a lot more fun with this show this year. I've decided to just loosen up. And let my personality show through. So yeah, you're probably going to hear some more singing and who knows, maybe some more music references. So let's talk about what made the January job market report so hot. I think really the, the answer is it's because nobody expected it. It's not like somehow we added, uh, record jobs that we had never added before. I mean, we've, we've seen some really strong job growth in other months, but I think it's because everyone predicted something different. In fact ADP had put out in their own report that talked about a sharp decline in payroll growth. And so folks were looking at that thinking, well then if ADP is talking about that, then surely we're going to see that reflected in the numbers. And when we didn't. When we actually showed 353,000 jobs added in January. Uh, people were just, again, scratching their heads. I've talked about this in other episodes. It's, it's kind of why I came up with this title today. Here we go again. Right. This is like the same old song of it just keeps repeating. Um, I like the song, by the way. If this were a jukebox, I would just keep playing this song over and over again because we want strong jobs now. It depends on who you talk to because you know, there are other implications when there's a strong job market, it means that maybe inflation stays high. The rates don't come down on things like mortgage rates. So I understand that there are other impacts. But I'm not here for those other impacts. I focus on jobs. So for what I do in the community that I serve, this is all really good news. Now I understand also that it doesn't necessarily translate to a strong job market means that you personally have a great job and that you love your job and that you get paid what you want. It doesn't mean that necessarily. It just means that it's still healthy and that there are still opportunities out there. And it's a reminder that it's a really good time to put yourself in a position to take advantage of these opportunities.

Yeti Stereo Microphone-20:

So I want to pivot just for a moment to talk about what one of those opportunities is this year that we'll see more of. And that is that foreign companies, employers overseas are hiring more US-based remote workers. So this is a really interesting story. If you want to read more about it, you can find it. At CNBC, January 25th, 2024. There's an article there. You can just Google this as well. Uh, better yet. If you have chat GPT for wink, wink. Then you can search on this and you're going to come up with a whole bunch of articles, but what's so interesting to me about this is this may put to rest the push and pull that we see between folks who want to work remotely. And companies who want to bring them back to the office US-based companies, because there are entities overseas that are actually hiring more US-based remote workers, because they know that there is a talent pool here, and that people really do want to work remotely. We saw that the number of American workers hired by these international companies grew 62% last year. That's in one year and that's according to the state of global hiring report offered by deal D E L. And um, so we, we're going to see more of that because that trend is going up and will continue to go up throughout this year. And probably many years beyond that. Especially if US-based employers are unwilling. To allow people to work remotely or are unwilling to negotiate at least some flexible work schedule. This report goes on to say that the company is hiring these US-based workers are based mostly in the UK, Canada, France, Singapore, and Australia. So I think this is an important story to watch because I believe it will provide more opportunities, more remote opportunities. Once again. And I really do believe that things are cyclical. So while we had this massive remote work opportunity in 2020 and 2021, and then people were nervous that it was going to end. In 20, 22 and it didn't really end, but it kind of, they, they dial it back. People of course went back to the office, but some companies kept people remote for a really long time. And then I do think in 2023, we saw a bit of a dial back of US-based remote work, but then enter. This new international push. Uh, for, uh, companies hiring these US-based workers. So now we're going to see another cycle. I believe where more remote work opportunities are created in 2024, once again. And then I think what that will do is it will actually push these US-based companies. Back into offering more remote positions. Again, I just don't see how there's ever going to be an end to remote work. And I know some people really disagree with me about this, but think about it. I mean, right now, as I'm recording this episode in California, there is a torrential storm creating all kinds of mudslides and flooding. People are being told to stay home and not drive. Well, guess what those people get to do. They. I get to work online. They get to work remotely. Some schools are getting closed. Guess what those kids get to do? Go to school virtually. I'm not saying these are good things. I'm just saying that these are things that are going to happen. So I just think we're never going to get away from it, especially because technology becomes better and faster and it makes remote work more accessible. So when you have something like an international market opening up to US-based workers, that will certainly put pressure on those US-based companies. So watch for that in 2024. Again, I think that's an opportunity that will emerge, and it's a reminder that you need to be ready. For the opportunity. So let me end this shorter episode with this, the way to get ready for that opportunity and more to come, then I'll be talking about this month. Is to understand your skillset, know what skills you bring to the table, what skills that employers or clients want. If you're going to go into business for yourself. And then know where you might have a few gaps and how you can fill those gaps with really easy, free, or low cost training. That is another big message I want you to take away. Do not go back to school for four plus years to get some fancy degree. That might be out of date in four years. Okay. Now, nothing against school. I've talked about this before, but depending on who you are, what age you are and what kind of work you want, you may not need to do this. So that was number one, really know your skills and know where you have those gaps. Number two, make sure that you have updated your resume. At least in the last six months, uh, please don't let it be any longer than that and make sure that your resume is remote. Ready. Make sure that you have the right skills on there and that your resume can get through the applicant tracking systems. Those are the bots that's, uh, AI as well. I talk a lot about that in remote work school. We're working on that constantly making sure that people's resumes are updated for that. And lastly, you have to be on LinkedIn. You just do. LinkedIn is. A premier platform. It's where everybody goes to connect and network and find jobs and have a profile that talks about who they are, what they do and how they can help. And so those are just three things, just three that's all you need to do know your skills, really dust them off, shine them up, get your resume in order and, and be found on LinkedIn. And of course, if you need help with any of that, you know where to find me, I will leave a little link here at the end where you can sign up for my free training, or maybe just skip the free training and join remote work school. I'll put a link in the show notes for that as well. So there you have it. I'll end the episode how I began. Here we go again with another hot job market that does not exactly roll off the tongue. So I will work on something different for next time. Thanks so much for joining me today. Stay tuned for more episodes this month. Where I will be talking all about the trends and the opportunities.

If you're looking to get back into the workforce, change jobs, work remotely, or learn artificial intelligence, check out my free remote work training so you can get ahead of the trends and stay ahead of the pack. Click the link in the show notes, or go to www.camilahealth.com and press the free training button.