The Professional job Recession

 

Economists have noted there is a decline  related to industries such a tech, consulting, and finance. Various corporation across numerous industries are doing layoffs. The traditional office job could be experiencing what occurred with manufacturing. The common description of this is white collar recession. To be precise, it is a professional job recession. The common term is misleading, because it claims to be only happening in certain occupations. Workers with higher education and multiple skills are still subject to the exploitation of a capitalist system. Education and working for a particular company was claimed to protect workers from layoffs or job loss. Since 2022, layoffs have increased in the white collar classified jobs. Searching for positions has become more difficult or companies slowdown hiring. Those who remain employed are doing more work for less pay. What the global economy is experiencing looks closer to the 2008 financial meltdown. The professional worker class is not protected. Blue collar work was subject to disruptions in the economy. White collar work was shielded to an extent. The professional worker is getting closer to the conditions faced by the working class on a regular basis. The reason most cannot recognize the exploitation of the professional class was related to job benefits. Paid vacations, healthcare, and possible promotion were common benefits corporations offered. Overtime, such benefits were either reduced or disappeared. The professional managerial class and business elite can exploit the workforce to their benefit. The professional job recession will be exacerbated by more supply side economic policies, automation, and outsourcing.