Mass Layoffs or Hiring Boom? The Current State of the Job Market
Channel: 4 Corner Resources
Date: 2023-02-20

On this episode of the Hire Calling Podcast, Pete and Ricky dive into the ongoing conversation about the future of the job market. Despite the latest BLS data painting one picture, the weekly layoff announcements suggest another. While Pete believes that there's no universal solution, Ricky is committed to conducting research and presenting his discoveries.

Apart from that discussion, Pete and Ricky express their opinions on the capacity of leaders to admit their errors. Is vulnerability a crucial attribute? Tune in to learn more about the latest labor market trends!

Is the job market strong right now?
In all honesty, we are on both sides of the coin right now. Some industries are experiencing massive layoffs, while others are looking to fill numerous roles. What we do know is that the unemployment rate is extremely low, and new job opportunities are being added. 

Advice for leaders in today's job market
1. Allow the market to self-regulate. While it's necessary to trust the data at hand, it's also important to conduct a thorough analysis of the numbers. Exercise skepticism and conduct independent research prior to making choices that could impact your organization.
2. Demonstrating vulnerability to your subordinates is completely acceptable. Attempting to maintain an image of perfection will make you appear worse if you make a mistake. It's better to be truthful and acknowledge your lack of knowledge than to pretend to know everything.
3. Have the courage to concede when you're mistaken and motivate your team to do the same. Set an example by following your own advice, and your staff will respect and admire you as a leader. Everyone is prone to errors, and the most reliable individuals are those who promptly acknowledge their mistakes.


Additional resources: 
1. 2023 Hiring & Salary Guide: https://www.4cornerresources.com/hiring-salary-guide/
2. Employment Trends & Job Market Predictions for 2023: https://www.4cornerresources.com/podcast/employment-trends-job-market-predictions/
3. Tips for Managing Your Recruiting Budget: https://www.4cornerresources.com/blog/managing-recruiting-budget/
4. A Quick Guide to Mass Hiring: https://www.4cornerresources.com/blog/a-quick-guide-to-mass-hiring/