Now we are entering what I like to call the "pauper CEO" phase of the economic cycle. When leadership turns out their pockets and "socializes the losses" as it were.

Generally even if you work for a company that is unaffected by the current economic climate, it will be used as a justification for low raises and higher expectations at work. With high inflation happening at the same time, we are entering a bad time to grow your career or get promoted.

For me, I found a role that reduced my overtime and is relatively easy. I wouldn't want to get promoted now if it meant a increase in responsibility as the rewards are unlikely to even surpass inflation by a meaningful amount. This will suck for people without established careers of course, I was in that position in 2008 and the slow economic recovery had me working for very low salaries up until a few years ago.

They only get away with this beacuse most workers don't or can't respond to the incentives they have laid out here. Firms are shouting at us "I don't have the ability to reward you for your effort!", I suggest you listen before working all that hard.