With the US Federal Reserve seeking to cool the economy, the labor market has been drastically shifting in recent months. This transformation has been no surprise to Guy Berger, the Principal Economist and head of Macroeconomics at LinkedIn. In a recent conversation with Phil Rosen, Berger highlighted how the Fed’s policy is affecting the job market and the implications the economic changes are having on the nature of work.
Berger explains that the primary driver of employment decline is the hiring slowdown, which is expected in most economic cycles. Companies, in times of uncertainty, are more likely to seek out short-term contracts for its employees in order to maintain flexibility. However, despite this caution, people seeking full-time workloads are still able to find jobs due to the hot labor market.
Berger continued on to discuss the role of AI in the job market. He explained that as non-tech companies begin to implement AI for bottom line improvements, the nature of jobs will start to change significantly, potentially creating a large gap in the current job market.
In addition to the discussion, Berger shared his insight on the key markets stories this week, such as the unaffordable housing market, the confusing forecasts of the Russian economy, and 12 charts from Bank of America that suggested an incoming recession.
LinkedIn is an online networking platform dedicated to helping its users connect with others in their professional field, find jobs, and become more successful. With millions of users in more than 200 countries, the platform has become a leading hub for job seekers and employers to connect, share and open opportunities. The platform also provides career advice, industry news and content, and training resources to its users.
Guy Berger is the Principal Economist and head of Macroeconomics at LinkedIn. Alongside this role, Guy is a recognized expert on the topics of unemployment, job trends and workforce planning. He is a frequent guest speaker and his writings have been featured in a range of notable publications and websites. He holds a Master’s degree in Economics from the University of Cambridge and lectures Economics and International Relations at SciencesPo in Paris.
