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Forum ยป Worst job market since 1933?
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Thread: Worst job market since 1933?

post 1695551613 12-29-2023, 09:38 AM
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Worst job market since 1933?

Brahs who were job hunting in 2009, is the job market today worse compared to the past? Everyone I see who was laid off still haven't found jobs. Literally all of them are chronically unemployed now (6+ months unemployed). Was 2009 really worse than this?
post 1695551743 12-29-2023, 09:41 AM
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I graduated college in 2009 and it was an absolute nightmare trying to get a job at that time. I didn't get my first real corporate gig until 2012.

Right now the labor market is relatively strong. Showing signs of stress, but it's not anywhere close to that.

In 2024? Things will probably get a bit dicey, but there was a legit loss of liquidity in credit markets back then and nobody had confidence to hire anybody.
post 1695552443 12-29-2023, 10:01 AM
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Originally Posted By OliverHeldens⏩
I graduated college in 2009 and it was an absolute nightmare trying to get a job at that time. I didn't get my first real corporate gig until 2012.
True but how will today's college graduates fare? I think most of them will wind up in dead end jobs like retail. They will never have a chance at a good job.
post 1695552603 12-29-2023, 10:06 AM
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Originally Posted By OliverHeldens⏩
I graduated college in 2009 and it was an absolute nightmare trying to get a job at that time. I didn't get my first real corporate gig until 2012.

Right now the labor market is relatively strong. Showing signs of stress, but it's not anywhere close to that.

In 2024? Things will probably get a bit dicey, but there was a legit loss of liquidity in credit markets back then and nobody had confidence to hire anybody.
If you are referring to all the reports the media shares that's because it's all bs part-time jobs. Career type positions in the private sector have fallen off a cliff in 2023.

Also if anything 2024 will see things improve for corporate America in terms of the job market, not get worse. You're like entirely backward lol. Companies were prepared for the worst in 2023 which is why they cut jobs and didn't hire. What ended up happening as shown in the last couple months was a lot of them over performed (don't confuse this with they did well.. just better than expectations). The stock market shows that. If anything companies will have more confidence in 2024 based off the results at the end of this year, not less confidence, leading to opening back up to hiring more.


You are right 2009 was way worse for what it's worth though.
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post 1695552633 12-29-2023, 10:06 AM
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Originally Posted By Onlinedatingcel⏩
Brahs who were job hunting in 2009, is the job market today worse compared to the past? Everyone I see who was laid off still haven't found jobs. Literally all of them are chronically unemployed now (6+ months unemployed). Was 2009 really worse than this?
No. 2009 was WAY worse.

I had to take a 50% pay cut to get a job in 2011, but I had taken a few years off since the job market was so bad to be a SAHM. It was worth every penny to be a SAHM, but still rough to this day as I really have to leave to get more money as I'm at the top of my pay grade.
post 1695552663 12-29-2023, 10:08 AM
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The job market is worse than the dementia patient in chief would have you think, but it's not 09 or anything.

The bullets are flying in tech right now. Yesterday, I guy I knew from grad school pinged me on LinkedIn. He got laid off from his job and wanted a referral. I told him I was laid off too, LMAO.
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post 1695552693 12-29-2023, 10:08 AM
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Originally Posted By Onlinedatingcel⏩
True but how will today's college graduates fare? I think most of them will wind up in dead end jobs like retail. They will never have a chance at a good job.
Obviously there will be a lot of current gradates having issues. But I doubt they will have those same issues for 3+ years like I did.

The economy is still moving along, although slowing. Back then the economy was essentially brought to a standstill because credit markets froze up for multiple years.
post 1695552743 12-29-2023, 10:10 AM
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Originally Posted By FA*******⏩
The job market is worse than the dementia patient in chief would have you think, but it's not 09 or anything.

The bullets are flying in tech right now. Just had a guy I knew from grad school ping me on LinkedIn, he got laid off from his job and wanted a referral. I told him I was laid off too, LMAO.
Oh no you were laid off, FA???

Maybe I should keep my job as even though I've been there too long it has a lot of stability. We just hired someone else.
post 1695552753 12-29-2023, 10:10 AM
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We'll have 20 applications for an entry level new grad eng position and idiot managers will let it sit instead of picking someone. It really seems like we open up reqs just to pretend that we're looking for jobs. Most of our reqs have not been filled.

I quit that job after finding another, much better paying position. That still took me almost 9 months of interviews/offers/negotiating. I wouldn't say the market is hot right now.
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post 1695552773 12-29-2023, 10:12 AM
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I graduated in 2009 (I didn't go to college straight after high school), and like others have already said...the job market fuking SUCKED then. Terrible time to be a new grad. No first hand experience with what it's like now, but have a hard time imagining that it's worse.
post 1695552833 12-29-2023, 10:13 AM
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2009/2010 was the worst.

2001 mini recession was worse than this also, at least as far as job market goes.
post 1695552843 12-29-2023, 10:13 AM
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Originally Posted By SoutheastBeast1⏩
If you are referring to all the reports the media shares that's because it's all bs part-time jobs. Career type positions in the private sector have fallen off a cliff in 2023.

Also if anything 2024 will see things improve for corporate America in terms of the job market, not get worse. You're like entirely backward lol. Companies were prepared for the worst in 2023 which is why they cut jobs and didn't hire. What ended up happening as shown in the last couple months was a lot of them over performed (don't confuse this with they did well.. just better than expectations). The stock market shows that. If anything companies will have more confidence in 2024 based off the results at the end of this year, not less confidence, leading to opening back up to hiring more.


You are right 2009 was way worse for what it's worth though.
Companies will continue to shed jobs in 2024 and 2025 simply as a function of corporate debt rollovers at the significantly higher interest rates. There are a lot of headwinds that will push back on employment, and we're not even close to feeling the worst.
post 1695552913 12-29-2023, 10:15 AM
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Originally Posted By OliverHeldens⏩
Companies will continue to shed jobs in 2024 and 2025 simply as a function of corporate debt rollovers at the significantly higher interest rates. There are a lot of headwings that will push back on employment, and we're not even close to feeling the worst.
what do you mean by "corporate debt rollovers"? I see people keep mentioning that corps will have to pay higher interests but they already took on all the debt they could at 0% during covid.
Boycott foodservice industry crew
post 1695553043 12-29-2023, 10:18 AM
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Originally Posted By OliverHeldens⏩
Companies will continue to shed jobs in 2024 and 2025 simply as a function of corporate debt rollovers at the significantly higher interest rates. There are a lot of headwinds that will push back on employment, and we're not even close to feeling the worst.
Bro literally everyone was already on a hiring freeze in 2023. It doesn't "get worse" unless they start laying people off, which doesn't really seem likely at this point. Not in mass quantities at least. That was the big difference in 2009. So many people got laid off, coupled with no one hiring and you ended with a 3 year log jam to get everyone back working.

So unless you're saying lots of firings are coming you're clearly clueless.



Most of you on this site are fear mongering retards so I'm not shocked we've run into one with the whole "it's only gonna get worse" horse sh*t you all spew 24/7 on here. Just f*ck off already. Nothing you say is backed by any realistic expectations. Dead srs. You're worse than the media
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
post 1695553103 12-29-2023, 10:19 AM
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Originally Posted By Retoaded⏩
2009/2010 was the worst.

2001 mini recession was worse than this also, at least as far as job market goes.
How do people go 6+ month unemployed when they are actively looking? These were people in senior positions too. Legit don't understand how they survive without government support when there is none atm.
post 1695553343 12-29-2023, 10:25 AM
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Originally Posted By SoutheastBeast1⏩
Bro literally everyone was already on a hiring freeze in 2023. It doesn't "get worse" unless they start laying people off, which doesn't really seem likely at this point. Not in mass quantities at least. That was the big difference in 2009. So many people got laid off, coupled with no one hiring and you ended with a 3 year log jam to get everyone back working.

So unless you're saying lots of firings are coming you're clearly clueless.



Most of you on this site are fear mongering retards so I'm not shocked we've run into one with the whole "it's only gonna get worse" horse sh*t you all spew 24/7 on here. Just f*ck off already. Nothing you say is backed by any realistic expectations. Dead srs. You're worse than the media
Lol, you are one naive individual if you don't think things can get worse. Wait until people start foreclosing on their homes.
post 1695553383 12-29-2023, 10:25 AM
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Originally Posted By Onlinedatingcel⏩
How do people go 6+ month unemployed when they are actively looking? These were people in senior positions too. Legit don't understand how they survive without government support when there is none atm.
Alot of times its harder for people in senior positions to find a job if they are commanding 150k than it is for a new graduate to get a job at 50k. For instance, my company would hire as many new graduates as we can find but we have no interest in hiring another senior guy. We have enough chiefs, we need more indians.
post 1695553473 12-29-2023, 10:27 AM
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It is an absolutely horrible time to be looking for a job right now if you are in a white collar field, unless you have some super in-demand skillset.

The whole "unemployment is at all time lows" is the biggest load of chit ever.
post 1695553513 12-29-2023, 10:27 AM
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Originally Posted By 6gorillion⏩
It is an absolutely horrible time to be looking for a job right now if you are in a white collar field.

The whole "unemployment is at all time lows" is the biggest load of chit ever.
depends. I am an owner of an engineering firm in a fast growing area and we cannot find enough people.
post 1695553643 12-29-2023, 10:31 AM
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Originally Posted By Retoaded⏩
Alot of times its harder for people in senior positions to find a job if they are commanding 150k than it is for a new graduate to get a job at 50k. For instance, my company would hire as many new graduates as we can find but we have no interest in hiring another senior guy. We have enough chiefs, we need more indians.
As it was in 2009-2013, most hires will take place for people who have experience but not too much experience. So people who are 25-30 and have already worked for 3-5 years and don't need extensive training and aren't expecting $100k+ to start will be the ones finding jobs.
post 1695553763 12-29-2023, 10:34 AM
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Originally Posted By OliverHeldens⏩
As it was in 2009-2013, most hires will take place for people who have experience but not too much experience. So people who are 25-30 and have already worked for 3-5 years and don't need extensive training and aren't expecting $100k+ to start will be the ones finding jobs.
That is our ideal candidate right now for sure.
post 1695553873 12-29-2023, 10:36 AM
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Originally Posted By Retoaded⏩
depends. I am an owner of an engineering firm in a fast growing area and we cannot find enough people.
Sounds like there are some structural issues in the economy. I know for engineers there's pretty much no hope of getting a job out of college as employers only want professional engineers. You need a family member in the industry to help you gain enough experience to get your professional license.
post 1695553963 12-29-2023, 10:38 AM
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Originally Posted By Retoaded⏩
depends. I am an owner of an engineering firm in a fast growing area and we cannot find enough people.
Must be in an area with less competition than normal.

In a busy metropolitan area that's not the case.
post 1695554123 12-29-2023, 10:41 AM
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Originally Posted By Onlinedatingcel⏩
Sounds like there are some structural issues in the economy. I know for engineers there's pretty much no hope of getting a job out of college as employers only want professional engineers. You need a family member in the industry to help you gain enough experience to get your professional license.
Originally Posted By 6gorillion⏩
Must be in an area with less competition than normal.

In a busy metropolitan area that's not the case.
The entire southeastern united states is booming right now so things are different here I am sure than blue state metro exodus areas. Most college students are accepting offers their junior years here, or having 10 offers to choose from when they graduate. I talk to all the headhunters also, friends with a couple and others because I run most of our recruiting efforts, and there is just no one there to hire.

Civil engineering. I have no idea whats going on with other disciplines.

I do believe this "recession" or whatever you want to call it is very regional this time.
post 1695554293 12-29-2023, 10:46 AM
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AI will kill allot of tech jobs..A LOT
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post 1695554903 12-29-2023, 10:58 AM
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2009 job market was so bad it made me go into the military

It aint even close to that level, its just getting started. I think its due for another collapse like that sometime soon. 2020 would have been really bad if they had all the same covid hysteria without dumping trillions into the market to prop it up.
post 1695556433 12-29-2023, 11:30 AM
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For anyone in tech, real estate, or finance - its brutal atm. I was laid off and it took me 6 months to get an offer in a city close to me. Granted, had I been willing to expand the search to multiple metros, probably could have found something within 3 months.
post 1695565853 12-29-2023, 02:11 PM
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Quite easy for certain trades right now. Industrial guys especially. Every job I've applied for recently I've gotten offers on lol
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post 1695566533 12-29-2023, 02:25 PM
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Originally Posted By OliverHeldens⏩
As it was in 2009-2013, most hires will take place for people who have experience but not too much experience. So people who are 25-30 and have already worked for 3-5 years and don't need extensive training and aren't expecting $100k+ to start will be the ones finding jobs.
That's the part that sucks for Oldcels like me as my pay is at the high end of the scale since I never went into management where people report to me. I just manage vendors.

Maybe I should try to do that, but I prefer to do actual work vs. sit in meetings all day. Ugh.
Originally Posted By dopamine72⏩
AI will kill allot of tech jobs..A LOT
Thank goodness it won't kill what I do. They said outsourcing jobs to India would hurt us 20 years ago but that didn't work due to the time difference and the quality went down, not to mention English/communication skills.
post 1695566833 12-29-2023, 02:29 PM
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Originally Posted By SoutheastBeast1⏩
If you are referring to all the reports the media shares that's because it's all bs part-time jobs. Career type positions in the private sector have fallen off a cliff in 2023.

Also if anything 2024 will see things improve for corporate America in terms of the job market, not get worse. You're like entirely backward lol. Companies were prepared for the worst in 2023 which is why they cut jobs and didn't hire. What ended up happening as shown in the last couple months was a lot of them over performed (don't confuse this with they did well.. just better than expectations). The stock market shows that. If anything companies will have more confidence in 2024 based off the results at the end of this year, not less confidence, leading to opening back up to hiring more.


You are right 2009 was way worse for what it's worth though.
this is the correct take. 2024 will see a huge resurgence of legit jobs. Over performance in 2020 and 2021 ruined guidance and left tons of cash on the table, cash lead to head count, lead to over hiring, lead to layoffs, and now we're back to normal ish
Originally Posted By OliverHeldens⏩
Obviously there will be a lot of current gradates having issues. But I doubt they will have those same issues for 3+ years like I did.

The economy is still moving along, although slowing. Back then the economy was essentially brought to a standstill because credit markets froze up for multiple years.
credit markets BARELY froze up and most hiring was done within 2 years of the crisis.


OP - I was unemployed for 8 months (by choice, I quit cause yolo) from 2022-2023 - that market blew fat dong. Other than that tho, got a new job offer already (been in current gig for ~6 months) and will be raising my pay 10k, and looking at another promotion so no, this market isn't bad at all.
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