🎉 Hasta La Vista LinkedIn? ✖️

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Read time: 3 minutes

Good Morning Party People! 🎉

We’re back from Labor Day weekend and we’re ready to PARTY!

Here’s what we got today:

✖️ There’s a new sheriff in job town

⭐ Hire with Astrik

🧑‍💼 4-day work week > WFH

📈 Job market check

And, of course, MEMES!

MOTD (Meme of The Day)

Meme creds: Van Vaziri

Think you have great meme skills? Reply to this email with your best meme to be featured in the MOTD.

There’s a New Sheriff in Job Town

Look alive, LinkedIn! X (formerly known as Twitter) is now adding job board features to the platform. Businesses with a gold checkmark ($1k per month to purchase the features) can now post open jobs to their company page after being verified and accepted into X’s hiring beta.

Additional features are expected to be added soon. Soon, users will be able to:

  • Post jobs to the TL

  • DM a job to a candidate

  • Share a job with your community

X allegedly has 540,000,000 monthly active users. LinkedIn has roughly 310,000,000 monthly active users. It will be interesting to monitor how hiring is impacted by such a large platform adding job features.

Elon Musk has stated that he wants X to be “the everything app”. The company is also planning on adding financial features, video calling (does anyone really want this?!), voice calling, and more. It only makes sense that X is adding job-related features. Only time will tell how effective hiring on X is.

Hire With Astrik

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4-Day Work Week > WFH?!

Employees would rather have a 4-day work week than work from home. In fact, some employees want it so much that they’d consider taking a pay cut, a step back in their careers, and working longer hours during the four working days. They want it bad!

“A four-day workweek is more popular among full-time workers than remote and hybrid work. 81% of the full-time workforce support a four-day workweek. 64% prefer fully remote work and 68% prefer hybrid work, as opposed to fully in-person work.”

The popularity of remote work has been crushed over the past few months. WFH is still more popular than it was pre-covid, but more and more companies are issuing RTO mandates.

Will employers actually go for 4-day work weeks? It certainly seems unlikely that it will become the norm. However, here is a list of 300+ companies that do have shortened work weeks.

Who doesn’t want 3 day weekends for life?!

Read more on 4-day work weeks here.

Job Market Check

The US unemployment rate came in at 3.8% for August, the highest since January of this year. Many believe this increase in unemployment can be attributed to more people entering the workforce.

187,000 jobs were created in August, which was roughly the same number of jobs added in July.

Even though the unemployment rate rose in August, labor economists believe that the job market is “near perfect”. Hmm.

“Largely, that’s because it’s cooling gradually but remains strong — a sort of Goldilocks scenario whereby workers can find jobs with relative ease but the Federal Reserve likely won’t see the need to keep raising interest rates…”

The Fed began raising rates in March 2022. Downstream of the rate increases, companies (due to lack of access to capital) began laying off employees. It now appears that The Fed will halt the rate hikes, which is a positive indicator for the job market.

August job market stats at a glance:

  • 3.8% unemployment rate

  • 187,000 jobs created

  • 62.8% labor force participation rate

  • 4.3% YoY change in average hourly earnings

For more, read this CNBC article.

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Party Favors (extra reading)

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