Industry Insights: June 14, 2023

Home Depot Wants to Sell You a $44K House

Hello, Friends!

Welcome back to our Industry Insights blog post, where we bring you the latest updates and news from various sectors. Sit back, relax, and let’s dive into the fascinating topics we have for you today!

Big-Picture:

Let’s kick things off with some exhilarating finds—Despite concerns about rising interest rates, inflation, and the recent debt ceiling crisis, there’s good news on the job front. Employers added a whopping 339,000 jobs last month, indicating a positive trend in the job market. However, it’s worth noting that the number of self-employed individuals declined by 369,000. This could be a sign that people are seeking the safety and stability of traditional employment during these uncertain times.

For recent college graduates, they might find the real world to be a bit disappointing. The class of 2023 has high hopes for an average salary of $66,467, but HR professionals are offering an average of $58,317 for entry-level positions. It’s definitely not the most encouraging news for our fresh graduates, and it might just go down in history as the saddest graduation prank ever.

In the realm of home ownership, there’s a glimmer of hope for low- to moderate-income buyers. Rocket Mortgage has introduced a new 1%-down, no-insurance-fee loan, making the dream of owning a home more attainable for millions. However, the real challenge lies in finding available homes in the current low-inventory market. That viral $44,000 Home Depot house doesn’t sound so bad after all.

Marketing Industry:

Now, let’s move on to the exciting world of marketing. Despite the economic rainclouds, CMOs remain optimistic about the power of content. A staggering 57% of them plan to increase their content creation investment. In addition, 83% are even looking to bring part of the content-creation process in-house. Repurposing existing content is also gaining popularity as marketers seek ways to maximize their resources.

In a recent announcement, Google confirmed that AI will play a significant role in the future of Search Ads. While this development aims to enhance performance, it has left some advertisers feeling a bit wary. Changes to the search algorithm have already incorporated AI, but marketers are understandably concerned about the potential impact on their ad performance as AI becomes a part of the user-facing customer experience. It’s definitely a situation worth keeping an eye on.

Have your LinkedIn messages been buzzing lately? That’s because the advertising sector experienced significant growth, adding 2,600 jobs last month. In fact, it’s the highest level of growth in the sector since 2001. It’s an exciting time for professionals in the advertising industry, with new opportunities on the horizon.

Alright, let’s chat about TikTok, the platform that has taken the world by storm. You’re not alone if you’ve been wondering why you’re seeing fewer viral videos lately. As of last month, half as many videos were getting 10 million views compared to two years ago. The platform’s explosive user growth has brought in a new wave of influencers vying for attention and challenging the reign of the original top creators. It’s a testament to the ever-evolving landscape of social media.

You won’t believe the creative genius behind this out-of-home ad that’s making waves. It’s a clever reminder that not all jobs are in jeopardy of being taken over by ChatGPT or any other AI. Trust us, it’s a refreshing reminder that our abilities and creativity can never be replicated by machines.

Just for Fun:

Before we wrap up, let’s dive into some fun tidbits. Did you know that Taylor Swift’s two-night Era’s Tour has been a massive boost for the tourism industry? It has single-handedly brought Las Vegas tourism back to pre-pandemic levels. Who knew that music could have such a significant impact on the economy?

In another surprising revelation, it turns out that McDonald’s chicken nuggets come in precisely four distinct shapes. Yes, your childhood was a lie! These shapes even have nicknames: the boot, bell, ball, and bone. It’s amazing how something as simple as the shape of a chicken nugget can captivate our curiosity.

Lastly, Apple recently announced its entry into the virtual reality headset battle with the unveiling of the $3,499 Vision Pro. During the keynote presentation, Apple emphasized the concept of “spatial computing” without mentioning the metaverse— sorry, Zuckerberg. If you’re curious about the future of virtual reality, make sure to check out the Apple Vision Pro in action.

That’s all for this week’s Industry Insights! We hope you enjoyed our engaging roundup of news and updates. Join us next time for more exciting content. Until then, bon appétit!

Your friendly Industry Insights devotee, 

JD