Happy And Succeeding In The Future Of Work
Expect A Slower Hiring Process And Job Cuts As The Fed Fights Inflation
Last Friday at the Jackson Hole Economic Symposium, Federal Reserve Bank Chair Jerome Powell reiterated that he is firmly staying the course of depressing the economy to beat back record-high levels of inflation. He freely admitted that workers would be casualties, as businesses will be forced to cut costs. If you are searching for a new job, be prepared for a long, slow, drawn-out process.
Fed Chair Jerome Powell Says Fighting Inflation Will Cause Job Losses—Here’s What You Need To Do Now
In a blunt 10-minute speech at the annual Jackson Hole Economic Symposium on Friday, Federal Reserve Chair Jerome Powell said he’s following through with his promise to raise interest rates and do what’s necessary to cool down the economy. Powell didn’t pull any punches, saying that higher interest rates will push down inflation to the Fed’s 2% target level. As a result, the United States will experience slower growth and a weak job market. He freely acknowledges that many Americans will feel the “pain” and lose their jobs.
Wave Of Goldman Sachs Workers Quit En Masse At ‘Toxic’ Wall Street Giant
Goldman Sachs has been hit by a wave of defections, and the atmosphere at the financial giant is at “an all-time toxic high right now,” The Post has learned. Six overworked first-year bankers quit and walked out en masse from the bank’s 200 West Street headquarters Wednesday after getting news of their bonuses, sources told The Post. Their departures have been followed by others in the same division — as everyone from chief executive David Solomon on down — constantly stresses the need to “perform, perform, perform,” sources told The Post.
Google Employees Frustrated After Office Covid Outbreaks, Some Call To Modify Vaccine Policy
Google employees are receiving regular notifications from management of Covid-19 infections, causing some to question the company’s return-to-office mandates. The employees, who spoke with CNBC on the condition of anonymity, said since they have been asked to return to offices, infections notifications pop up in their email inboxes regularly. Employees are reacting with frustration and memes.
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SEC Chief Gary Gensler Fires Warning Shot At ‘Crypto’ Companies
Gary Gensler is coming after digital currency companies. In his recent opinion piece published on the Wall Street Journal, the chairman of the U.S. Securities and Exchange Commission fired a warning shot at the digital currency industry.
Fewer Americans Say They Are Living Paycheck To Paycheck As Inflation Begins To Ease
Consumers who have been squeezed by higher prices may be experiencing a little relief. Fewer adults now say they are living paycheck to paycheck, according to a new LendingClub report. As of July, 59% of Americans said they lived paycheck to paycheck, down from 61% in June but still higher than a year ago, when the number of adults who felt stretched too thin was 54%.
‘Quiet Quitting’ Is a Misnomer for Not Overextending Yourself At Work—Here’s Why That Matters
Recent discourse surrounding the topic of “quiet quitting”—a term that took off from a viral TikTok, meaning simply doing your job as described, minus the extra hustle—has been anything but, well, quiet. As the phrase gained buzzword status, articles on what it means for workplace engagement and what managers can do to mitigate the practice proliferated. But so did articles of another flavor, taking issue with the back half of the phrase: the “quitting” part. Why should simply abiding by your job description be associated with quitting, and what does that say about our relationship with work? As it turns out, the connotation of the term may do more harm than good, giving a bad name to the very legitimate boundaries it entails.
SEC Commissioner Calls for Less Secrecy in Whistleblower Awards
The SEC’s decision on Friday to reverse Trump-era restrictions on its whistleblower program divided the five-member body, with its newest member citing concerns about the program’s secrecy that were outlined in a recent Bloomberg Law investigation.
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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.