Dirty secret… Companies often post fake jobs that they never intend to fill. This makes it look like the company is hiring a lot and that positively impacts stock price
No serious investor is dumb enough to be swayed by data that’s easy to fake. Public companies are required to publish their financial reports every quarter.
A company I used to work for (digital advertising) would buy fake Facebook likes and followers and it seemed to work well for them with regards to getting a ton of investors. That is, until Facebook made changes that pretty much stopped all profit from the platform.
Nortel basically cheated the stock market by buying any company they could to look succesful while publishing not so real numbers in their reports, which caused their stock price to explode for a few years. Investors only care about returns. They don’t care if the company goes under after they’ve made their money
That’s a far cry from investors just counting how many job listings the company has on Indeed without knowing if those positions are actually being filled, and if they’re new positions or just replacing people that quit
Nortel was like old school AT&T, they got big by doing things properly with reliable, well-designed hardware/software and hiring lots of extremely talented people, and once the money reached a critical mass they started doing super shady shit and traded out all of the talent, passion and loyalty for more money until nothing but a husk was left, and it inevitably collapsed.
Greed consumes all.
Once the CEO started saying “what do we make here? Money!”, it was over.
https://youtu.be/I6xwMIUPHss?si=sZ_3mLW5pVBqxk3i
Really good YouTube documentary on the rise and fall off Nortel.
Very few investors are serious. Most are just random schmucks trying to save for retirement.
It also gives them the chance to scoop good candidates (highly skilled or willing to be underpaid).
It also gives them an idea of the quality of candidate available at that wage, potentially firing an existing employee to hire a similar one for less.
There are simpler reasons that I’ve observed internally. I’ve seen excellent resumés go completely ignored simply because the manager wants to wait forever for a unicorn with 10 years of highly specialized experience but is somehow magically just starting out.
Also make job postings just so they can whine to the government later about how they can’t find workers.
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Payroll employment is way up. An HR scam can’t really fake that.
But CNBC and The NY Times, who IMO hate Biden for not being a true lefty, can keep taking about how shitty everyone feels.
Payroll employment is way up.
Cough…workforce participation rate…cough
The Boomers retired.
Uh huh. So why don’t you spend a minute going to Labor statistics site and then seeing the sub breakdown by age group? It is not just boomers retiring it is prime working age adults not working.
Which why should they? You get better medical insurance not employed vs employed. The salaries are trash anyway. Plus you are just going to get laid off at any moment.
There are 157.7 million people employed. 5 million more than before the pandemic. More than any time in US history.
Boomers start at age 59 and north. So they will show up as working age adults. Since there are so many more of them not working than the Zs that are replacing them that skews the statistics.
Edit: The labor participation rate for 25-54 is the same as it was in the 1990’s and much higher than in the 2010’s.
There are 157.7 million people employed. 5 million more than before the pandemic. More than any time in US history.
US population is higher.
Boomers start at age 59 and north. So they will show up as working age adults. Since there are so many more of them not working than the Zs that are replacing them that skews the statistics.
Not an excuse
Edit: The labor participation rate for 25-54 is the same as it was in the 1990’s and much higher than in the 2010’s.
People don’t work before age 25 or after 54? I want the numbers between 16-65. Thanks
I’m sorry. I didn’t realize that you are a troll.
I am sorry I didn’t realize that you were a neoliberal
That evil leftist media, out to get Biden.
Democrats have moved so far to the right, they’re whining that the press isn’t far enough to the right for their liking.
But CNBC and The NY Times, who IMO hate Biden for not being a true lefty…
LOL, that’s absolutely ludicrous. If anything, they would hate Biden for being too lefty.
There is a company in my area that has been “trying” to fill a role in my field for at least 6 years, non-stop. They spend money every month to put up a fake help wanted as on indeed.
In larger companies, they also do it when company policy requires them to advertise externally for positions even though the hiring manager already knows exactly which internal candidate he intends to promote to it.
I was reading elsewhere that some companies who want to transition an H1-B worker to a permanent worker are required to post the position first. They never intend to hire anyone other than the experienced H1-B worker, so the ad stays up for a period of time until they can pretend that the H1-B worker is the only qualified candidate. I don’t know how true this is, but it sure sounds plausible.
