State of the Market

[Protagoras]

What on earth will she do with two EVs?

They're not like power tools, you can't just have a spare battery.

So you have one on charge, and one to use.

[JustKeepSwimming]

Very worrying for 2024.

If we believe the theory it takes 12 to 18 months for the interest rate rises to work their way into the economy, currently as of November 2023 the economy is experiencing the effect of 2% interest rates (the rate from 15 months ago).

It wont be until this time next year that it finally starts to feel the effect of 5% interest rates. Max pain.

If this was branch staff I wouldn't be overly concerned, that's a dying service. Lloyds also indicated that 2,500 may be at risk, again from back office not front line. They mention product managers, which would suggest they foresee a cutting of new initiatives, which I guess a lot of you IT bods rely on.

Also it's redundancies, which I think can give a false impression as IME it doesn't tend to include normal staff attrition that won't be replaced.

But yeah, there was some FT fancy chart that indicated that interest rate effects are only at like 50%. Funny enough this time next year is about when the market expects the first rate cut, but even then it's very slow cuts to 3.75% in June 2027.

It's going to suck for many, but I'm glad experts (explicitly excluding housing 'experts') have woken up to the fact normal rates are more than likely here to stay.

I've been pessimistic since early this year, I'm just as pessimistic for 2024. I am especially skeptical about inflation.

[oliverson]

Just seen a React, TypeScript, NextJS, Graph QL contract on my LinkedIn feed.

8 weeks, outside, £ 200 a day.

Some guy interested in it as well.

What has become of the industry eh?

[WTFH]

Permie role appeared in my inbox this morning...
Want someone with loads of experience to learn the design of a project so that as it goes live they take over as BAU manager. I would expect that when the roll-out is complete, the person would then become an IT Director or potential CIO.
Roll out is scheduled to run for the next 10 years, you start on £100k and work from home apart from 1 day a month on site.

Funny thing is, up until a month ago the company were telling themselves the roll-out would finish in 3-5 years (contrary to the advice of the experienced externals on the project), and now it looks like they are taking a bit of that advice on board.

[BigDataPro]

Looks like they have moved us to the bottom of the pile!

https://www.weareorbis.com/jobs/senior-data-engineer-3/

[Cookielove]

I'm battling to find work, been searching for months. Decided to look at perm but that seems to be just as difficult just had feedback on a perm role and being a contractor they won't consider me for a perm role.

Got the experince and can do the job but they want someone who has always been permanent...they don't want ex contractors.

This is an issue trying to get perm work now when the contractor market dead/dying...

[BigDataPro]

I'm battling to find work, been searching for months. Decided to look at perm but that seems to be just as difficult just had feedback on a perm role and being a contractor they won't consider me for a perm role.

Got the experince and can do the job but they want someone who has always been permanent...they don't want ex contractors.

This is an issue trying to get perm work now when the contractor market dead/dying...

Unfortunately this is true. I have experienced it!

[rocktronAMP]

Ask about jobs without all the selling house / selling car / credit cards maxed out etc. who cares? the only thing you are asking about is openings, why would anyone give you a job because you are in a tough spot?



Again, why would politicians help contractors who often were on crazy high rates for years? it's not the politicians fault you've spent all the money.

If you read properly I did say FEAST and FAMINE. You can be on crazy high rate for 6 months and then be 6 months on the bench. So you tell me, better a salaried steady job or a lucrative contractor with the high rate that does not renew or extend? the answer is always economy, which we are all part of.

[avonleigh]

I'm battling to find work, been searching for months. Decided to look at perm but that seems to be just as difficult just had feedback on a perm role and being a contractor they won't consider me for a perm role.

Got the experince and can do the job but they want someone who has always been permanent...they don't want ex contractors.

This is an issue trying to get perm work now when the contractor market dead/dying...

Applied for a few permie roles over the last few years. Never get a look in, presumably because I have been contracting for 26 years. I don't even bother anymore. Shame as I genuinely want to go permie and have genuine reasons to but as you say most companies don't want ex-contractors as a lot have of had bad experiences with people just using it as a stop gap.

[rocktronAMP]

Just seen a React, TypeScript, NextJS, Graph QL contract on my LinkedIn feed.

8 weeks, outside, £ 200 a day.

Some guy interested in it as well.

What has become of the industry eh?

JFC!