{ "media_type": "text", "post_content": "Today’s headline: 3.9% unemployment. \n\nMeanwhile on fishbowl, 5+ posts about people getting laid off in the last 24 hours. \n\nWhat’s going on?", "post_id": "5aec673afd12e30013b38433", "reply_count": 15, "vote_count": 15, "bowl_id": "5565cfca8b2b9a03009acf57", "bowl_name": "Advertising" }

Today’s headline: 3.9% unemployment. Meanwhile on fishbowl, 5+ posts about people getting laid off in the last 24 hours. What’s going on?

likeupliftingsmart
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Dive deeper in the numbers. A considerable portion of the drop is do to people exiting the workforce or no longer looking for jobs. Also, this is an industry in major flux, but in the aggregate, there aren’t that many of us. We represent a sliver of the American job market.

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Advertising is facing an identity crisis. Because of sexual harassment being exposed but also because of poor choices in management overall. People are tired of working endless hours in projects never happening. Clients realized that we charge them too much. Creative are tired of the bs. So there you have part of the answer.

likesmart

Oh, don’t worry, OP. It’s coming. We’re 9 years into an economic expansion that’s proving day after day that no one learned anything from the last go around. A correction is definitely coming.

likesmart

It’s a sign that our industry’s in serious trouble. The fact that we’re not only not growing along with the economy but shrinking as it continues to grow is a sign that working at an ad agency is probably a bad idea. Thankfully, the economy’s growth means you’ll have more escape hatches to leave through.

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I’m more worried that we are kinda a canary in the coal mine for the economy as a whole.

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People talk more about the negative?

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...it’s Friday. That’s when this happens

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Unemployment rate is skewed like mentioned. Every president uses it to fit their narrative. A better number to use is the labor participation rate which has continually been dropping up until 2015ish which is when is kinda flat lined and has just hovered

likesmart

Is this a serious question? Are you new to this industry?

likefunny

CW 2, see above. The good times are on borrowed time

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Nature of the business. I’ve survived more layoffs than I can remember. One day I won’t. Really not looking forward to it.

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The business is dangerous. Besides, most of those new jobs are in the food prep service industry. That is why salary growth is almost nil.

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3.9% unemployment is still over 12 million people. Also fishbowl is a pretty useful tool in job hunting, so it would make sense that people would use it during this time in their life.

OP when it feels like this in the Spring a recession will usually hit in the Fall

OP didn’t you answer your own question? 🤣

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