this post was submitted on 15 Feb 2024
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The industry is experiencing historic shrinkage post COVID due to unsustainable growth during COVID.
Any evidence to back up using the word "historic", here? The dotCom burst was historic, but by the numbers I've seen, this doesn't come close.
I would argue "interesting footnote in the boom/bust cycle".
I know that's not how it feels to the folks going through job searches right now, though.
It's the worst market since 2008. I don't know why people feel the need to minimize it. It's certainly more than a footnote.
And 2008 was the worst since the the great depression. In between we saw the dotCom bust, which was itself the worst since the slump in the 80s.
But the boom and bust cycle is well established.
We don't do eachother any favors by talking like it's the end of the world this time.
I suspect the sensational headlines are meant to distract from systemic issues that feed the cycle.
As long as the narrative is "this time is unique", it distracts from discussing improving the situation.
I don't mean to minimize it, though. It sucks!