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Peter St Onge Podcast
Episode 20: Weekly Roundup 09.04.2023
Sep 4, 2023
Discussion on decreasing salaries for new hires and the shift in the job market. Motivations behind countries joining BRICS and concerns over the weaponization of the US dollar. Exploring China's economic slowdown and government response. Concerns about the state of the job market and impact of inflation. History of US central banks and prediction of a recession in the UK and EU.
24:24
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Quick takeaways
- Salaries for new hires are shrinking as companies drop pay for new employees, leading to significant pay cuts compounded by inflation.
- The BRICS group of nations is expanding its membership to reduce reliance on the US dollar, which has been weaponized by the US government.
Deep dives
Decreasing salaries for new hires
Salaries for new hires are shrinking as companies drop pay for new employees, with job titles in several sectors decreasing by double digits. This drop in salaries compounds with inflation, leading to significant pay cuts. Sectors such as IT engineering and transportation have seen the most significant decrease, while education and healthcare, which are government-dominated, continue to rise.
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