No, we are not in a Recession
but here’s why there aren’t any jobs
Current GDP — We Are Not In A Recession
If you were to look at the current GDP, you would see that it has been going up.
However, if you were to ask around, you would see that tons of companies are laying off. In addition, many people are having a difficult time finding jobs. So the question is, why is this happening even though GDP is going up.
Plenty of tech jobs
If you were to go online, you would see that there are plenty of tech jobs being posted every day. So the question is, why do I see many of my colleagues still having a difficult time finding a position?
The Answer, Remote Overemployment.
I‘m pretty confident that the main contributor to the current market is over-employment. Remote work made it easier for folks to juggle 2 or more jobs.
This makes it so high performers are picking up positions that are available, leaving non-high performers without positions for themselves.
This is the market naturally correcting itself, as people are over-employed, as they do not feel paid enough due to rising costs.
If what I am saying here is indeed correct, this would be cause for a red-alarm and re-assessment of GDP x employment. Even if GDP is up by 30%, this would mean employment in the tech market has decreased by 20%(assuming half are over-employed).
The Solution?
It’s incredibly complicated, but the single greatest thing we can do is allow the creator economy to thrive 10x versus what it is now. The alternative is incredibly risky, which is to assume half the population can now do two jobs at once. Or at least one full-time and a part-time.
