How’s the job market for white collar workers out there, truly? You see 1,000s of employee layoffs in the news, whole divisions at good companies ie uber, LinkedIn, Airbnb, HSBC, Deloitte, Carter’s, etc gone. Other companies have slowed hiring, waiting for COVID to blow over. Yet all you read about are the blue collar waiters/waitresses, bar owners and parking attendants struggling, due to its easy connection with COVID. So wanted to ask this groups perspective on how it really is out there

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I get paid 7x what the average waiter / waitress makes. Might be a little easier for me to ride out unemployment than it is for the blue collar folks

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So these 10s of thousands of people are just riding it out is what you are saying? I feel corporate America have the type of people who won’t sit still and will worry about their next gig. So either there’s thousands sitting around or there’s thousands vying for the same limited cutthroat spots due to supply and demand. Im glad you feel secure in your position I’m just curious on the actual job market for white collar is all

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A1 - Stock market foes not reflect comp and headcpunt reductions of white collar workers.

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Not good anywhere except a few industries benefiting from higher Covid demand. Many of my white collar friends have either t as ken pay cuts or been laid off.

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Hiring has not stopped in the Tech industry. My friend got laid from a tech company and everyone in his team has found new jobs already. I’ve gotten 5 recruiter reach outs and am in the process for a few companies and LinkedIn has lifted its hiring freeze. Expect it to be harder to break into the industry given how many people with relevant experience are looking for roles but Tech is absolutely still open (hence all the companies trying to one up one another with the June / July / forever work from home policies).

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Big business which employs the white collar workers, is on the whole doing ok. (Record stock market). Small business which usually lives off of in person visits, has faced something worse than '08. Makes sense why one is getting crushed and why one is relatively okay still

D1 the companies making the bigliest moves in terms of mkt cap $$ are the FAANG companies which are doing extremely well in terms of revenue, usage, etc. I think if you exclude these companies(+MSFT) the market is actually down on the year...

Depends on the industry. I’m in risk assurance (IT audit) and my LinkedIn never stops ringing so to speak.

That’s because IT audit doesn’t generate revenue in a traditional sense of “adding value.” Our industry was created overnight by federal regulations. Publicly traded companies must get audited. Federal agencies must get audited. The need for risk professionals will never go away as long as sarbanes-oxley and FISMA act remain laws. Edit: Seems i didn’t answer your first question. We have walkthroughs to understand business processes and identify key controls. We decide what to scope and what not to scope depending on how relevant something is to the financial statements. Then we review policies and documentation (audit the “design”) to see if it passes our review. Then we assess the effectiveness of the controls and whether they are working as intended. We work with the OIG (inspector generals office) and submit our findings. The reports are published by the IG and it affects funding and other smaller things. For an example the dod is in year three of their first ever financial audit.

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I was laid off from a tech start-up. I’m actively recruiting and the market is much more competitive than in previous years. But I consider myself privileged in that my industry is hiring and there are jobs I can apply to where I can work from home indefinitely. And these jobs still pay well. If I worked in hospitality, entertainment, or sports for example, I’d most likely be laid off or furloughed and have far fewer jobs to apply to for the foreseeable future. Those entire industries have to reinvent themselves and many people will be unemployed for a long time as a result.

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