It wasn’t very long ago, so many of us remember the Great Recession and fear we are going to see a repeat. Hopefully not. It seems regional right now, like it did early in 2007, after the job market had raged in 2006 and the good times rolled!
Like in 2006, the 2022 hiring season started off frantic. I had more than a hundred truss designer openings but few candidates. Candidates were in control and could demand exceptionally high wages, which employers paid. I saw average designer wages go up 30%–40% between 2018 and 2022. Just like they did between 2000 and 2006.
By 2007, I started to see a trend. Candidates were coming in at higher numbers, but not because they wanted a better job. Instead, they were seeking a job because they had been laid off, something that was almost unheard of over the preceding years. More and more came as 2007 progressed, while fewer and fewer jobs were available. By 2008, single family design job orders were dead. There were no jobs, but candidates were still pouring in. Fortunately, that’s not quite what I’m seeing now, which is more regional, much slower, and almost all related to single family construction. Just like last time, good multifamily designers are still in demand. (We have jobs!)
What I am concerned about this time is how deep the recession will go. With high interest rates and dysfunctional government, will we skate by with a few areas of the country taking a step back and resetting their market, or will there be nation-wide deep recession pain? My crystal ball is not clear on that answer.
Also different this time is that the industry now offers remote as an option for designers. Removing the obstacle that relocation causes for families makes a job move much easier. Still, I am getting more job opportunities where the employer wants to replace remote people with in-office designers. There are still remote design jobs out there in some areas of the country for a well-qualified designer, but designers can no longer make remote an obvious demand.
Now, we’re at a point where the landscape has switched from a candidate’s market to an employer’s market. Even so, jobs are still available, especially if you know how and where to look.
If you’re thinking of making a move, be sure to take your time and explore your options. At The JobLine, we have the tools to help get you what you are worth. After 30 years, we’ve got the experience and connections to help you find your next position. Our clients worked with us through the last recession and will again for this one, however long it takes.