Happy And Succeeding In The Future Of Work
Job Cuts Are Coming To Wall Street
Job cuts may be spreading from the tech and crypto sectors to Wall Street. The New York Post reported that bankers, brokers and traders may need to start worrying about upcoming layoffs. The confluence of the Federal Reserve Bank raising interest rates, runaway inflation at over 9.1% and general uncertainty over macro and geopolitical events may cause a slowdown in initial public offerings (IPOs) and other deal-making activities. According to the Post, “Layoffs will ravage the industry’s workforce by at least 10%—and that the bloodbath could be in full swing by year’s end.”
An Easy Explanation Of What Happens When The Federal Reserve Bank Raises Interest Rates
The job market and the economy will be in bad shape for a while. With all the chatter about inflation and a recession, it’s hard to understand what is happening. Let’s break it down. A combination of pent-up demand from the pandemic, supply chain disruptions, trillions of dollars flooded into the market from the Federal Reserve Bank, and massive fiscal stimulus packages from both the Trump and Biden administrations helped stoke inflation.
What You Can Do To Advance Your Career When Everything Looks Awful
Doom and gloom are what most people feel about the current situation in the United States. You hear negative news about the economy, inflation and rising costs. There is unrelenting bickering in Washington, D.C. The stock market is plummeting market. Housing prices are declining, as interest rates rise. The litany of woes also include increased crime, school shootings, the war in Ukraine and fear over the recent waves of layoffs, hiring freezes and job offers rescinded.
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Workers Are Picking Up Extra Jobs Just To Pay For Gas And Food
Albert Elliott has been fueling up his Kia Soul in increments of $15, $20 and $25 to make the 60-mile commute from Fayetteville, N.C., to an Amazon warehouse in Raleigh, where he makes $15.75 an hour. Lately, he doesn’t have enough cash to fill his tank the entire way. In June, gas prices had gotten so steep that Elliot took on a second job as a janitor at a community college, working an extra two days a week for $10 an hour.
Meta, Amazon Bail On NYC Office Expansions
Two tech titans appear to be retreating from office expansions in the Big Apple. Both Meta and Amazon are backing away from their plans to expand in New York City, Bloomberg reported. Neither has signaled any intent to eliminate space they already have in the city, but are backing off potential deals to add space.
Experts Sense Trouble As Coinbase Shuts Down US Affiliate Program
Again, cryptocurrency users and industry experts are sensing troubles ahead for the leading US exchange Coinbase, following recently leaked information that the company has decided to stop its affiliate program in the United States temporarily.
SEC Commissioner Allison Herren Lee Steps Down
Allison Herren Lee stepped down from her position as a Commissioner of the Securities and Exchange Commission (SEC) today. Lee announced her planned departure in March of this year with plans to take up a visiting professorship in Italy. She had delayed the opportunity to take a seat on the Commission in 2019, according to the New York Times.
In this episode of Let’s Go Live with Jack Kelly, job-search expert Kenneth Lang, the self-proclaimed “Dr. Phil” for job seekers, talks about how his passion for and pivot toward helping people was born out of his own job loss during the Financial Crisis. He describes himself as an introvert and also serves this particular cohort of job seekers who are stuck and in need of LinkedIn and networking guidance.
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Media Inquiry
Jack Kelly is available to discuss a broad range of topics, including, but not limited to: the job market, the state of recruiting, trending news stories and career advice. He has appeared on CNBC, MSNBC, NBC, FOX, CBS, BBC and NPR. Jack has been quoted in the the Wall Street Journal, Washington Post, Economist, INC., New York Post and more.
About Jack Kelly
Jack Kelly is the CEO, founder, and executive recruiter at one of the oldest and largest global search firms in his area of expertise. He has personally placed thousands of professionals with top-tier companies over the last 20-plus years. Jack is passionate about advocating for job seekers. In doing so, he founded a start-up company, WeCruitr, at the beginning of the Covid-19 pandemic. The mission of WeCruitr is to help people in need and make the job search more humane and enjoyable. As a proponent of career growth, Jack shares his insider interviewing tips and career advancement secrets as a Senior Contributor for Forbes. He also covers timely topics related to corporations, high-profile people, Wall Street, politics and other important matters. The pieces offer insight into the news and how it may impact your career. Jack is the author of Happy and Succeeding in Your Job Search, as well as the host of Happy And Succeeding In The Future Of Work and cohost of the Blind Ambition podcast.