www.bnnbloomberg.ca Open in urlscan Pro
104.126.119.82  Public Scan

Form analysis
3 forms found in the DOM

GET /search/bnn-search-7.337157

<form class="search-form ng-pristine ng-valid" action="/search/bnn-search-7.337157" method="get">
  <input bm-autofill="" class="search-field ng-isolate-scope" type="text" name="q" value="Enter symbol or company" container="search-autocomplete-container" callback-fn="searchReuters(term)" detect-width="false" autocomplete="off">
  <input class="search-submit submit" type="submit" value="Search">
  <div class="search-autocomplete-container">
    <div class="message">
      <p>Are you looking for a stock?</p>
      <p>Try one of these</p>
    </div>
    <!-- ngRepeat: result in autoFillResults -->
    <div class="more"><a href="">More Results</a></div>
  </div>
</form>

<form class="switch ng-pristine ng-valid">
  <input type="radio" name="playback" value="true" checked="checked">ON <input type="radio" name="playback" value="false">OFF
</form>

GET /search/bnn-search-7.337157

<form class="search-form ng-pristine ng-valid" action="/search/bnn-search-7.337157" method="get">
  <input bm-autofill="" class="search-field ng-isolate-scope" type="text" name="q" value="Enter symbol or company" container="search-autocomplete-container" callback-fn="searchReuters(term)" detect-width="false" autocomplete="off">
  <input class="search-submit submit" type="submit" value="Search">
  <div class="search-autocomplete-container">
    <div class="message">
      <p>Are you looking for a stock?</p>
      <p>Try one of these</p>
    </div>
    <!-- ngRepeat: result in autoFillResults -->
    <div class="more"><a href="">More Results</a></div>
  </div>
</form>

Text Content

Markets
 * Markets
 * Indices
 * Currencies
 * Energy
 * Metals


   
   
 * Indices
   
   
 * S&P/TSX
    
   41.56
   19,501.48
   
 * Dow Jones
    
   132.28
   32,237.53
   
 * S&P 500
    
   22.27
   3,970.99
   
 * Nasdaq
    
   36.56
   11,823.96
   
   
   
 * Commodities
   
   
 * Gold
    
   -2.89
   1,975.32
   
 * WTI Crude
    
   0.19
   69.45
   
   
   
 * CDN $
   
   
 * CDN » US
    
   0.0006
   $USD 0.7282
   
 * CDN » EUR
    
   0.0003
   € 0.6764
   
 * CDN » GBP
    
   0.0003
   £ 0.5950
   
   


Markets
As of: 03/26/23
9:30:18 pm
   
 * AEM:CT $70.96   +0.83
   
 * AQN:CT $11.00   +0.37
   
 * ATD:CT $64.66   +0.69
   
 * BAM:CT $42.60   -0.23
   
 * BCE:CT $60.79   +0.5
   
 * BIP-U:CT $43.66   +0.52
   
 * BMO:CT $116.01   +0.22
   
 * BN:CT $41.14   +0.98
   
 * BNS:CT $65.85   -0.32
   
 * CAE:CT $28.97   -0.29
   
 * CAR-U:CT $46.47   +0.56
   
 * CCL/B:CT $64.66   -0.45
   
 * CCO:CT $33.06   -0.39
   
 * CM:CT $56.66   -0.06
   
 * CNQ:CT $70.60   +0.01
   
 * CNR:CT $156.11   +1.5
   
 * CP:CT $103.19   +0.6
   
 * CSU:CT $2,391.35   +6.66
   
 * CTC/A:CT $167.53   -1.08
   
 * CVE:CT $21.32   -0.26
   
 * DOL:CT $78.72   +0.62
   
 * EMA:CT $54.70   +1.57
   
 * ENB:CT $50.43   +0.44
   
 * FM:CT $28.35   +0.23
   
 * FNV:CT $198.33   +1.4
   
 * FSV:CT $184.26   +0.01
   
 * FTS:CT $56.16   +1.64
   
 * GIB/A:CT $127.47   +0.73
   
 * GIL:CT $43.65   -0.02
   
 * H:CT $37.08   +0.34
   
 * IFC:CT $193.41   +0.89
   
 * IMO:CT $63.50   -0.18
   
 * K:CT $5.97   +0.12
   
 * L:CT $116.29   +1.09
   
 * LMN:CV $16.75  
   
 * MFC:CT $24.34   -0.03
   
 * MG:CT $68.96   -1.08
   
 * MRU:CT $70.74   +0.39
   
 * NA:CT $92.67   -1.34
   
 * NTR:CT $98.56   -1.9
   
 * OTEX:CT $50.79   -0.27
   
 * POW:CT $34.64   +0.02
   
 * PPL:CT $41.92   +0.05
   
 * QSR:CT $85.61   -0.15
   
 * RCI/B:CT $62.76   +0.26
   
 * RY:CT $126.81   -0.26
   
 * SAP:CT $34.01   +0.12
   
 * SHOP:CT $61.73   -1.06
   
 * SJR/B:CT $38.94   -0.1
   
 * SLF:CT $61.43   +0.16
   
 * SU:CT $39.79   -0.74
   
 * T:CT $27.30   +0.15
   
 * TD:CT $77.62   +0.29
   
 * TECK/B:CT $48.21   -0.07
   
 * TOU:CT $54.59   +0.32
   
 * TRI:CT $174.60   +1.11
   
 * TRP:CT $52.00   +0.7
   
 * WCN:CT $183.43   +3.45
   
 * WN:CT $166.57   +1.87
   
 * WPM:CT $64.62   +0.78
   

Are you looking for a stock?

Try one of these

More Results


BNN

 * 
 * 


BNN

 * News
    * Investing
       * News
       * Video
       * ETFs
       * REITs
      
      
    * Personal Finance
       * News
       * Video
      
      
    * Real Estate
       * News
       * Video
       * REITs
      
      
    * Company News
       * News
       * Video
      
      
    * Commodities
       * News
       * Show
       * Guests
       * CANNABIS
       * Oil
       * Gold
       * Silver
      
      
    * Economics
       * News
       * Video
      
      
    * Politics
       * News
       * Video
      
      
    * Technology
       * News
       * Video
      
      
    * Bloomberg News Wire
       * News
       * Video
      
      
    * Opinion
       * News
      
      
    * ETFs
       * News
       * Video
       * Berman's Call
      
      
    * Executive
       * Video
      
      
    * More...
       * Pursuits
       * International
       * Market Call
       * Schedule
       * Listen
   
   
 * Live
 * Video
 * Shows
 * Market Call
 * Markets

 * More
   
   * Live
   * Video
   * Shows
   * Market Call
   * Markets
   * 

 * BANK OF CANADA
 * INFLATION
 * INTEREST RATES
 * CRYPTO
 * REAL ESTATE
 * CANNABIS
 * OIL
 * GOLD
 * NEWSLETTERS
 * TOP PICKS





   TECHNOLOGY

   
 * News
 * Video
 * * Article
     
   * News
   * Video

 * More
   
   * News
   * Video

Latest Videos



Taking Stock: Taking Stock - UN climate change warning
Guest: Dale Beugin, Exec. Vice-President, Canadian Climate Institute - how can
Canada compete with the US after the Inflation Reduction Act?

Volume 90%

Press shift question mark to access a list of keyboard shortcuts
Keyboard ShortcutsEnabledDisabled
Play/PauseSPACE
Increase Volume↑
Decrease Volume↓
Seek Forward→
Seek Backward←
Captions On/Offc
Fullscreen/Exit Fullscreenf
Mute/Unmutem
Seek %0-9
Linkhttps://www.bnnbloomberg.ca/a-tech-job-still-pays-120-an-hour-despite-mass-layoffs-1.1899952?jwsource=cl
Copied
Embed<iframe
src="https://webapps.9c9media.com/vidi-player/1.9.24/share/iframe.html?currentId=2654321&config=bnn/share.json&kruxId=&rsid=bellmediabnnbprod,bellmediaglobalprod&siteName=bnnb&cid=%5B%7B%22contentId%22%3A2654321%2C%22ad%22%3A%7B%22adsite%22%3A%22ctv.bnn%22%2C%22adzone%22%3A%22ctv.bnn%22%7D%7D%5D"
width="560" height="315"frameborder="0" allowfullscreen></iframe>
Copied
Auto540p (1952 kbps)540p (1952 kbps)540p (1632 kbps)360p (1376 kbps)360p (992
kbps)360p (736 kbps)360p (576 kbps)240p (396 kbps)
Live
00:00
00:00
09:50

info






 





TAKING STOCK - UN CLIMATE CHANGE WARNING

Add to Playlist


RELATED VIDEO

   
 * Now Showing
   
   Taking Stock - UN climate change warning
   
   
   
 * Up Next
   
   Taking Stock - The Briefs
   
   
   

 * Taking Stock - Ottawa to release federal budget
   
   
   

 * Talking Tax with Tim Cestnick, co-founder and CEO of Our Family Office
   
   
   

 * Barry Schwartz's Top Picks
   
   
   

 * BNN Bloomberg's closing bell update: Mar. 24, 2023
   
   
   

 * International travel has really picked up: Analyst Actions
   
   
   

 * Canadians should take a little heart from Biden’s speech: Gerry Butts
   
   
   

 * The antidote to wasteful spending and inefficiency is better coordination:
   Dir. of Canada Institute
   
   
   

 * The address will be historic, but the bilaterals are just as important: Lisa
   Raitt
   
   
   

 * Pricing cuts overly optimistic: Economist
   
   
   

 * Eric Nuttall's Top Picks
   
   
   

 * Eric Nuttall's Past Picks
   
   
   

 * Eric Nuttall's Market Outlook
   
   
   

 * U.S. president Joe Biden is very fond of Canada: Former U.S. ambassador to
   Canada
   
   
   

 * Irrationality can cause these liquidity crises: David Rosenberg
   
   
   

 * Hot picks in ESG
   
   
   

 * China will have a complicated relationship with the U.S. and Canada in the
   coming years: James Moore
   
   
   

 * Deutsche Bank shareholders should be cautious holding the stock over this
   weekend: James Callahan
   
   
   

 * Energy is given the greatest evidence of some kind of recessionary
   environment: Trader
   
   
   

 * BNN Bloomberg's mid-morning market update: Mar. 24, 2023
   
   
   

 * My crystal ball isn't better than yours, we plan for range of uncertainties:
   Minister Bethlenfalvy
   
   
   

 * Once market adjusts to lower earnings, there'll be opportunity to buy riskier
   assets: CITI's Bailin
   
   
   

 * We see more upside in longer-term bonds: Portfolio manager
   
   
   

 * The U.S. financial system is far stronger today than it was in 2008:
   Portfolio manager
   
   
   

 * A lithium supply crunch is by no means hype: Analyst
   
   
   

 * We have no better friend or ally in the world than Canada: Former U.S.
   Ambassador to Canada
   
   
   

 * The bank crisis doesn't appear to be fully behind us yet: U.S. Market
   Strategist
   
   
   

 * BNN Bloomberg's closing bell update: Mar. 23, 2023
   
   
   

 * Consumers are spending more than they usually would on restaurants: Analyst
   Actions
   
   
   

 * The U.S. Fed will likely have reached its terminal Fed funds rate in May:
   Strategist
   
   
   

 * Electrification is the second era of our product lineup: BRP's Boisjoli
   
   
   

 * China will be the 'elephant in the room' during Biden's visit: Fmr. Minister
   Peter MacKay
   
   
   

 * Brian Madden's Top Picks
   
   
   

 * Brian Madden's Past Picks
   
   
   

 * Brian Madden's Market Outlook
   
   
   

 * Lumber investors await upturn in U.S. housing
   
   
   

 * Next week's budget will be a challenge as Feds deal with major issues amid
   slow growth: Andrew Pyle
   
   
   

 * Bank valuations are extremely attractive right now after recent volatility:
   Andrew Pyle
   
   
   

 * The lagging effects of rate hikes are getting longer and more variable:
   Andrew Pyle
   
   
   

 * Hot picks recap: Tech
   
   
   

 * China's relations with Canada and U.S. likely to stay rocky: U.S. Policy
   Strategist on Biden’s visit
   
   
   

 * U.S. Federal Reserve will probably stop raising rates fairly soon: Former
   Kansas City Fed president
   
   
   

 * U.S. banks have been saved. Markets've bottomed: Strategist
   
   
   

 * BNN Bloomberg's mid-morning market update: Mar. 23, 2023
   
   
   

 * Retail investors shouldn't bet on regional banks, these bets blow up with
   frightening speed
   
   
   

 * Complicated messaging because U.S. Fed's crystal ball is pretty murky: Former
   Atlanta Fed CEO
   
   
   

 * We see a lot of opportunities in real estate both on the investment and debt
   sides: Dean Kirkham
   
   
   

 * Focus on sectors that offer inflation protection, such as utilities,
   pipelines and REITs: Gavin Graham
   
   
   

 * We're in a period of significantly higher inflation than a 2% target: Gavin
   Graham
   
   
   

 * Bank of Canada minutes released
   
   
   

 * Powell’s comments were more hawkish than expected: Portfolio strategist Ian
   de Verteuil
   
   
   

 * Tenuous time to maintain a tight monetary policy stance: former Fed insider
   Danielle DiMartino Booth
   
   
   

 * We're in the period of the most anticipated recession ever: Portfolio Manager
   
   
   

 * BNN Bloomberg's closing bell update: Mar. 22, 2023
   
   
   

 * E-commerce growth will be slower than expected: Analyst Actions
   
   
   

 * Fixing Nevada mine proved too tough: First Majestic Silver CEO
   
   
   

 * U.S. Fed raises key interest rate by 0.25%
   
   
   

 * Be cautious raising rates further: Former BOE policy maker weighs in on risks
   
   
   

 * Michael Sprung's Top Picks
   
   
   

 * Michael Sprung's Past Picks
   
   
   

 * Michael Sprung's Market Outlook
   
   
   

 * Right now we don't see a lot of market discipline: Former US Federal Reserve
   economist
   
   
   

 * Until Chinese demand comes back, oil will keep going in storage: Energy
   strategist
   
   
   

 * Hot Picks: Beauty stocks
   
   
   

 * Stay away from high-flying growth stocks in tech and Ai: Brianne Gardner
   
   
   

 * Rate cuts are closer than markets expect: Brianne Gardner
   
   
   

 * Most likely, we won't have a recession: Betsey Stevenson
   
   
   

 * Getting a pause on tightening will be good for gold: David Burrows
   
   
   

 * BNN Bloomberg's mid-morning market update: Mar. 22, 2023
   
   
   

 * Bullish on Berkshire Hathaway, who better than Warren Buffett to get us
   through storm?: Strategist
   
   
   

 * The U.S. Fed will back off on a lot of hawkish statements: Chief market
   strategist
   
   
   

 * When the financial system gets rocky, gold becomes a safe haven for capital:
   Chief market strategist
   
   
   



Continuous Play:
ON OFF

The information you requested is not available at this time, please check back
again soon.

More Video



 * TECHNOLOGY

 * COMPANY NEWS

 * NEWS WIRE

Mar 24, 2023




A TECH JOB STILL PAYS $120 AN HOUR DESPITE MASS LAYOFFS

Lucy Papachristou, Bloomberg News

 * AddThis Sharing Buttons
   Share to FacebookFacebookShare to TwitterTwitterShare to
   LinkedInLinkedInShare to EmailEmailShare to MoreAddThis



The Transamerica Pyramid Building is framed by San Francisco, California's
Golden Gate Bridge on Saturday, January 31, 2004. ,

(Bloomberg) -- Mass layoffs across the US technology industry have now claimed
well over 300,000 jobs.

And yet, companies are still hiring in areas they see as mission-critical.
Contract positions are still commanding $120-an-hour wages. The industry hasn’t
seen cuts this deep since the dot-com bubble burst, but Linda Lutton, who has
been recruiting for tech firms since 1987, says it doesn’t feel like a bust. For
one, she said, firms are still taking her calls. 

“I’m in constant contact with my tech clients, and they keep telling us, ‘We
will come back,’” said Lutton, who recalls how clients suddenly stopped
answering their phones during the dot-com crash of the early 2000s because they
had folded overnight. “I haven’t had a single message from a single client
saying, ‘We have to cut everything down.’”

Whatever happens to the tech industry in the coming months and years will ripple
across the entire US economy. The sector now claims the biggest share of market
value in the S&P 500, accounting for about one-quarter of the index. That’s up
from 18% a decade ago. Tech accounts for about 6% of US gross domestic product,
and a similar share of jobs across the country. The average pay in tech is
nearly twice that of the typical US worker. 

There is no doubt that the tech sector is under strain. In the past two weeks
Meta Platforms Inc. announced it was cutting another 10,000 jobs and eliminating
5,000 open roles, Amazon.com Inc. laid off an additional 9,000 workers and
job-hunting website Indeed slashed 2,200. This month’s collapse of Silicon
Valley Bank, which served roughly half of all startups in America, certainly
won’t help.



Lutton knows friends and colleagues who are struggling to find work in tech. And
while her firm, Recruiter.com, has active tech clients, she herself hasn’t
recruited for the industry since last September, and has been picking up clients
in the healthcare sector instead.

But this isn’t an industry under siege, Lutton said. It’s an industry hitting
the pause button after a three-year, pandemic-fueled hiring binge that added
more than 600,000 workers, bringing total employment to a record 9.16 million
jobs in 2022, according to CompTIA, a trade group.

Even after accounting for the hundreds of thousands of workers affected by the
wide-scale layoffs that began around the middle of last year, total tech jobs
remain about 7% above pre-pandemic levels, according to CompTIA.

Read More: Global Layoffs Extend Far Beyond Big Tech

With a recession looming, big tech companies are downsizing in areas they no
longer see as priorities. But they’re also doubling down on resources seen as
mission-critical such as artificial intelligence, engineering and software
development. The recruiters that help firms fill their job openings say that the
push into new frontiers, along with the need to maintain existing
infrastructure, continues to fuel demand for key positions while hitting
departments such as human resources and sales hard.

The somewhat nuanced picture might explain why the unemployment rate for the
industry has remained relatively low, coming in at 2.2% in February, according
to a CompTIA analysis. That’s less than the 3.6% rate across the US economy –
which is itself close to the lowest since 1969.

Ciara Cornette, a product design recruiter at the New York-based firm Creative
People, is still working to fill anywhere between six and eight roles at a time.
That’s down from the 15 to 20 jobs she was juggling in mid-2021. But the current
pace of work, she said, proves there is still a healthy appetite for talent.

“We’re still getting people jobs, we still have clients,” Cornette said, noting
that recruiting work at her firm has picked up this month compared with January.
“For product designers in the startup space who have leadership experience,
there’s a big market for that type of candidate.”

While companies are still hiring, some may not be willing to pay as much.  

“Microsoft was paying $90 an hour for contractors during the height, and now
you’re routinely seeing $45 an hour for someone with PhD experience,” said Hang
Xu, a former user experience designer who runs tech talent agency Collective
Supply in New York. Some weeks, he said, he’s only been able to match one or two
people with jobs. “That’s not exactly what I was hoping for when I started
this.” A spokesperson for Microsoft declined to comment.

Steve Witmer, who recruits for software startup ServiceBell from San Diego, said
he was “shocked” when a design manager who had just been laid off by Netflix
Inc. approached him for a short-term contractor role paying $120 an hour. The
candidate was making at least $350,000 a year previously, he said.



“Normally I wouldn’t be able to speak to someone from Netflix,” Witmer said. “No
one knows who ServiceBell is.” 

Will McNeil, who co-founded the job board Black Tech Jobs in 2018 in Chicago to
help bolster hiring of Black workers, said he expects some tightening in hiring
and expansion plans from his clients at tech firms. But he still sees plenty of
employment opportunities. “If you type ‘software engineer’ into LinkedIn,
thousands of jobs still show up,” he said. “We think tech will bounce back.”

--With assistance from Alexandre Tanzi and Ryan Vlastelica.

©2023 Bloomberg L.P.


FAANG STOCKS



 1.  Subscribe to BNN Bloomberg Newsletters
 2.  BNN Bloomberg Personalities
 3.  Weekly Guest Schedule
 4.  Channel Guide
 5.  Contact Us
 6.  Privacy Policy
 7.  Accessibility
 8.  Political Ad Registry
 9.  Terms & Conditions
 10. FAQ

© 2023 All Rights Reserved
CTV News Sites




 * Are you looking for a stock?
   
   Try one of these
   
   More Results
   

 * Live
 * Video
 * Shows
 * Market Call
 * Markets
   

 * Investing
 * Personal Finance
 * Real Estate
 * Company News
 * Commodities
 * Economics
 * Politics
 * Technology
 * Bloomberg News Wire
 * Opinion
 * ETFs
 * Executive
 * Pursuits
 * International
 * Market Call
 * Schedule
 * Listen
 * Live
 * Video
 * Shows
 * Market Call
 * Markets
   


MARKETS

Markets
 * Markets
 * Indices
 * Currencies
 * Energy
 * Metals

   
 * Indices
   
 * Commodities
   
 * CDN $
   

S&P/TSX
 
41.56
19,501.48
Dow Jones
 
132.28
32,237.53
S&P 500
 
22.27
3,970.99
Nasdaq
 
36.56
11,823.96
Gold
 
-2.89
1,975.32
WTI Crude
 
0.19
69.45
CDN » US
 
0.0006
$USD 0.7282
CDN » EUR
 
0.0003
€ 0.6764
CDN » GBP
 
0.0003
£ 0.5950


SCOREBOARD

 * 
 *