Originally posted by Bluenose
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Reply to: State of the Market
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Previously on "State of the Market"
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Originally posted by WTFH View Post
That chart has a Farage-esque level of fable about it.
It starts in 2020, but your comments talk about “pre Covid levels”
Do you think we are all as gullible as you? It’s like you’ve taken the worst of Scooter and combined it with the far-right to make false assertions.
The website won't allow data prior to Feb 1st 2020.
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My client (mid sized FS firm) is at the early stages of (yet another) reorg triggered by the firing/resignation of their c-suite Tech guy.
Apparently their parent co has given them a payroll reduction target and (at least according to my manager) the new king of the hill is considering using more contractors instead of perm hires. To balance that out he also said that the consultants they've appointed have reported that their salary scales and rates in the delivery teams are 'too high', whatever that means.
They've been trying to get rid of day-rate contractors (I'm now on a PAYE FTC until Christmas) outside super specialist short-term roles so it'll be interesting to see how this pans out...
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Bench time here I come...was told I'm not getting extended due to re-org and cost cutting. Mental as there's heaps of work coming and the current team is already stretched. No worries though as they have a few scrum masters so I'm sure they will manage...fecking bean counters. Anyways, at least timing is good for a holiday.
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Looks like another dead week for job applications. Going cycling.
FFS, it's been 12mths. How can it be so tulip.
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Originally posted by WTFH View Post
That chart has a Farage-esque level of fable about it.
It starts in 2020, but your comments talk about “pre Covid levels”
Do you think we are all as gullible as you? It’s like you’ve taken the worst of Scooter and combined it with the far-right to make false assertions.
Leave a comment:
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My take away from these employment graphs and employment figures generally is that things are ok employment-wise in the economy for now. There was no great need for the ECB to cut rates recently, and it was only a small cut. Not enough to make interest rates in the USA greatly more attractively and therefore to increase capital flows in that direction. Just pushes the expected rate cut out even further - won't happen till its too late anyway as always.
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Originally posted by WTFH View Post
The graph starts in May 2020, not "the start of 2020", and you previously claimed it showed "covid lows", now you are saying that the graph is showing "before covid hit". It doesn't show (in any measured sense) what the "pre-covid levels were" that you referred to.
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Originally posted by Fraidycat View Post
I guess, the idea is, like a lot of the public sector, the NHS is recession proof and doesn't do IT layoffs when there are slumps in the private sector.
Central government probably varies by department. Some have been ringfenced from cuts over the years leaving others to bear a disproportionate amount of cuts.
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Originally posted by Fraidycat View PostChart from US federal website, shows the number of Developer job postings is almost at covid lows, similar, maybe even worse to what we are seeing in the UK.
Also shows there was massive over hiring post covid compared to the hiring levels pre covid. Which is why subsequent layoffs were so large at the US tech companies and that hit us here in the UK as well. Last year the UK market was full of with people from the likes of Facebook and Google who had been laid off.
You can argue about the methodology, how they collect data, what they’re looking at etc, but according to that vacancy levels in I&C are no worse than they were at different times in 2016, 2017, 2019, and definitely well off the Covid lows in mid 2020.
There are definitely a LOT more highly-incentivised people competing for IT jobs in 2024 compared to the pre-Covid era but that’s a different story.
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Originally posted by Fraidycat View Post
It shows job US opening for developers in 2021 were more than double the level at the start of 2020, before Covid hit..
It may as well be a chart showing business confidence in US presidents, Biden gets voted in, business confidence improves, but now as it looks less likely that 45 will serve jail time and that many people are blinded by his word salads, so he might get another presidency, then business confidence is crumbling.
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Originally posted by Fraidycat View Post
I guess, the idea is, like a lot of the public sector, the NHS is recession proof and doesn't do IT layoffs when there are slumps in the private sector.Last edited by Ketto; Yesterday, 06:22.
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Originally posted by WTFH View Post
That chart has a Farage-esque level of fable about it.
It starts in 2020, but your comments talk about “pre Covid levels”
Do you think we are all as gullible as you? It’s like you’ve taken the worst of Scooter and combined it with the far-right to make false assertions.
Not sure what you point is, the Chart is from the Federal Reserve Economic Data (FRED) website.
It shows job US opening for developers in 2021 were more than double the level at the start of 2020, before Covid hit.
This was a massive hiring bubble in the US Tech sector.
The bubble popped in mid 2022, and US tech giants then did big layoffs because they over hired so much in 2021, the UK was also caught in that cross fire last year.
A client told me about the high number of CVs they were getting from ex Facebook and Google employees here in the UK.Last edited by Fraidycat; Yesterday, 00:05.
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Originally posted by Fraidycat View PostChart from US federal website, shows the number of Developer job postings is almost at covid lows, similar, maybe even worse to what we are seeing in the UK.
Also shows there was massive over hiring post covid compared to the hiring levels pre covid. Which is why subsequent layoffs were so large at the US tech companies and that hit us here in the UK as well. Last year the UK market was full of with people from the likes of Facebook and Google who had been laid off.
It starts in 2020, but your comments talk about “pre Covid levels”
Do you think we are all as gullible as you? It’s like you’ve taken the worst of Scooter and combined it with the far-right to make false assertions.
Leave a comment:
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