Predicting the economy is never a certainty, but the chances of a soft landing are fading. Workers should begin to ramp up plans for possible widespread layoffs and increased competition for the best-paying jobs.
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The end is near.
No, not the end of the world, just the end of the Great Resignation in which workers who felt they were underpaid or underappreciated could quit and then quickly find a new, better job.
It is now likely the Federal Reserve’s efforts to reign in record inflation will end with a recession which will produce layoffs. Millions of workers will lose their jobs, and the balance of power will shift from the workforce back to employers.
In the post-Great Resignation market, you will have to bring an amped-up A-game to land the better-paying jobs.
This will be the first economic downturn for Gen Z and many Millennials. For college seniors, 2023 will present a dramatically different, much more challenging career landscape.
Now is the time to improve your career brand, to become a job applicant companies want to hire.