Navigating the Current Job Market during Layoffs: Let’s talk about it
Image: Bryce Durbin / TechCrunch
Article By: Mario Lestz & Jennifer Acevedo
Tech layoffs hit hard in 2023 and sadly, the data shows you or someone close has likely been affected. According to TrueUp's tech Layoff tracker, 1,499 people are laid per day (an increase of 780/day since this same time in 2022), with industry experts expecting more layoffs this year as the Federal Reserve continues to increase interest rates impacting demand for labor.
As a Staffing and Recruiting start-up, we can personally attest to the challenges candidates are facing while trying to navigate this current job market. The top three things we see are:
Employer’s pay scale does not match candidate’s current expectations
Volume of applicable opportunities has dramatically decreased
Candidate satisfaction throughout the hiring process is low
As the industry continues to prepare for economic turmoil, what challenges have you faced in 2023 while navigating the job market?
Sources:
Tech Layoffs Should Make Tech Recruiting Easier. So Why Isn’t It?
Federal Reserve raises key interest rate to highest level in more than 20 years
