15 best cities for job seekers (we see you Salt Lake 👀)

 -THIS WEEK- 

• 📉 Layoff Report - Tesla cuts again, Google, & more

• 🧑‍✈️ Career CoPilot - New top cities for job seekers | 2024 grads setting new job market trends

• 📊 Job Market Data - Job Market Cools But Holds Steady

• 🔦 Jobseeker Tools - Breakout List, Breakout List Talent Network

 -SPONSOR- 

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 -LAYOFF REPORT- 

📉 Notable Layoffs this Week

• Google is laying off around 200 of its "Core" employees and hiring some replcaments in India and Mexico, CNBC reports. The company has also cut jobs in its Flutter, Dart, Python and finance teams in recent weeks.

• Tesla is laying off hundreds more staff, including its entire Supercharging team, just weeks after cutting 10% of its workforce, The Verge reports.

• EV startup Fisker is cutting more jobs to avoid bankruptcy, TechCrunch writes, just weeks after laying off 15% of its 1,135 employees.

• Bristol Myers Squibb is cutting 2,200 jobs, The Wall Street Journal writes, in order to cut costs by $1.5 billion.

 -CAREER COPILOT- 

🧑‍✈️ 2024 College graduates are setting the trends for the job market

Handshake, a career platform built for college students, just released their network trends report for 2024 college graduates and the trends they’re setting are something all workers need to be aware of.

Trend 1: Location, Location, Location

According to the report, 46% of 2024 graduates say that their job’s location is the main factor in their decision. In 2023, location wasn’t even in their top 5 reasons. Given the choice between relocation or staying near friends and family, 86% said they’d like to stay.

So what’s the key driver in this trend? More affordable cities are becoming job market hubs. Austin and Charlotte are old news as cities to move to flock to for jobs, but guess who the new contenders are among the top 10 hottest job markets:

• Oklahoma City

• Jacksonville

• Salt Lake City

• Charleston 

• Check out the full list here

How these are ranked can vary greatly, but job growth, wage growth, low competition, & affordability are among the factors.

Trend 2: The Government is Stealing (or Attracting) the Tech Talent!

Around 7.5% of the 2024 graduate job applications this year have been submitted to government roles, up from 5.5% last year. In the tech sector, the needle is moving in the opposite direction.

In this unpredictable economy, it’s no wonder why grads are starting to opt for more stability. But what effect will this shift have in the long run and on the job market as a whole?

1. Decrease in Innovation: Startups and tech companies are often at the forefront of innovation, driving technological advancements and disrupting industries. If fewer graduates choose to work in these sectors, there may be a decrease in the overall level of innovation and disruptive ideas in the job market.

2. Impact on the Startup Environment: Startups are often founded by young entrepreneurs who bring fresh ideas and innovative solutions to the market. If fewer graduates choose to work in the startup environment, there may be a decline in the number of new startups being launched —> less overall jobs in the sector.

3. Government Innovation: On the other hand, an increase in graduates pursuing government jobs could lead to innovation within the public sector. Government agencies and departments may benefit from the infusion of young talent, bringing new perspectives and ideas to address societal challenges and improve public services.

Key Takeaways

If you’re in tech and not currently about to graduate from college, these trends may have a big impact on where your next opportunities exist.

If you’ve been looking in larger, more competitive tech hubs for work, but not having much luck, it might be worth looking at a few of these cities that have some serious potential. Combine that with the stability of a tech role within the government, you could find yourself in a sweet position while this economic roller coaster calms down.

Jobs outside of Big Tech

We previously did a deep dive on places to look for a job outside of Big Tech that you can use to find resources for government, manufacturing, and other sectors. Check it out here.

 -JOBSEEKER TOOLS- 

Browse more from our Tool Directory →

 -JOB MARKET DATA & TRENDS- 

📊 Job Market Cools But Holds Steady

The March 2024 JOLTS report reveals a significant shift in the US job market, with job openings declining to 8.5 million, indicating a cooling demand for workers. This trend, combined with a slight decrease in both hiring and quitting rates, suggests a less volatile job market. Importantly, the unemployment rate has only slightly increased, maintaining an unusual balance between fewer job openings and stable employment levels, a scenario that's been sustained over the past two years.

Key Takeaways:

• Decreased Job Openings: The number of job openings dropped by 30% from its peak two years ago, reflecting a decrease in labor demand.

• Stable Unemployment: Despite the significant fall in job openings, the unemployment rate has risen only marginally by 0.2 percentage points.

• Sustained Labor Market Stability: The current trends suggest a healthy, though cooling, labor market, possibly sustaining without major job losses in the near term.

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