The hiring market has changed, but it’s still a good time to make a move.
This is a quick job market update for August 2022. The hiring landscape has certainly changed. It has slowed down considerably, but there haven’t been widespread layoffs yet.
This is great because it means the market is still strong. Unemployment remains very low, and while the pace of hiring has slowed, this change hasn’t translated into anything worse. However, this means that compensation is not moving up as quickly as it had these past 18 months. It has flattened out and is likely to stay that way, depending on what happens next.
No one knows where we go from here, but it’s still a great time to make a move. There is enough demand for skilled workers and a small enough supply of people so you still have a good chance of negotiating the best possible outcome for yourself.
If you have any questions, feel free to call or email me. Happy hunting!