Americans' fear of losing their jobs grows • Hacker News Board

Re: Americans' fear of losing their jobs grows

#141

Post by lotsofpulp » Tue, Sep 10, 2019, 6:03 PM UTC

Ancalagon wrote: post #130

lotsofpulp wrote: post #101

Earlier quoted context omitted.

Is it possible that the existence of companies themselves is subject to more volatility? How can they provide stability when they themselves have unstable sources of income? I've only been around for a little more than 3 decades, but I've seen many markets and businesses be transformed. Vastly fewer numbers of travel agents, many retail establishments, tv channels, secretaries, hotel front desk, self check out are ne…

I would say sure, if it werent for the fact that a lot of major corporations are currently having some of their most profitable years ever. And if you consider companies like Apple that are sitting on literal mountains of cash, this argument breaks down.

The link in my comment clearly shows that most of the profits are going to a small number of corporations. This is even more evidence that companies are more unstable (compared to period between WW2 and now).

From the article:

>In 2015, for example, the top 200 companies by earnings accounted for all of the profits in the stock market, according to calculations by Kathleen Kahle, a professor of finance at the University of Arizona, and Professor Stulz. In aggregate, the remaining 3,281 publicly listed companies lost money.

The employees of those 200 companies are in a good spot, but not the remaining 3,281. The consolidation due to vertical integration, automation, outsourcing are all resulting in reduced demand for labor, hence the lagging wages and instability.

Re: Americans' fear of losing their jobs grows

#142

Post by OBLIQUE_PILLAR » Tue, Sep 10, 2019, 6:03 PM UTC

povertyworld wrote: post #85

SketchySeaBeast wrote: post #62

Earlier quoted context omitted.

You didn't see that the man literally drew an extra, obviously out of place circle on the official hurricane projection map to make his previous erroneous tweet seem correct? You're missing out. While the error itself is unlikely to start WW3 or tank the stock market, it certainly does cause one to ask questions.

The Trump admin has been doing that stuff from day one with the "alternative facts" thing. I can't keep up with every unpresidential move these guys make. On the plus side, I did just see Trump just fired Bolton which makes war feel a bit less likely.

He'll just nominate Elliot Abrams to replace him.

Re: Americans' fear of losing their jobs grows

#143

Post by matz1 » Tue, Sep 10, 2019, 6:06 PM UTC

Someone1234 wrote: post #74

matz1 wrote: post #59

Earlier quoted context omitted.

Still better than going from $5k/month to $0k/month. No solution are one size fit all solution to every problem. What is your point?

That with UBI we'd still be in exactly the same position as now? Your point was that UBI would somehow play a relevant role in low consumer confidence. I am pointing out that may not be the case.

How is exactly the same? $1k>$0k. With basic income, I for example for sure will be less anxious if i know that if I lose my job now, I still have some income.

Re: Americans' fear of losing their jobs grows

#144

Post by 033803throwaway » Tue, Sep 10, 2019, 6:08 PM UTC

simplecomplex wrote: post #119

Save some money, then you don’t need to fear losing your job. Fear of losing your job is a result of poor personal finances. There’s no need to fear if you have your personal finances in order.

This is great advice in general, but FU money gets tricky when you have negative interest rates on deck.

We are one stock market pull back away from catastrophe even for wealthy boomers.

Interesting times.

Re: Americans' fear of losing their jobs grows

#145

Post by matz1 » Tue, Sep 10, 2019, 6:10 PM UTC

war1025 wrote: post #79

matz1 wrote: post #59

Earlier quoted context omitted.

Still better than going from $5k/month to $0k/month. No solution are one size fit all solution to every problem. What is your point?

You don't go to 0k/month. For as much as people like to hate on the American safety net, it does exist.

The safety net that exist right now require waiting time, a lot of hoop and paperwork to get approved.

Re: Americans' fear of losing their jobs grows

#146

Post by Ancalagon » Tue, Sep 10, 2019, 6:11 PM UTC

mywittyname wrote: post #78

bonoboTP wrote: post #45

Earlier quoted context omitted.

Maybe it's different in the US but in Europe companies still struggle to find good job candidates. They get tons of applications of course but they aren't good/experienced enough. Basically many companies' bottleneck is hiring.

The past two companies I've worked for had nearly as many interns as FTEs on some teams. My current company has about 1/8th of the building dedicated to engineering intern cubes, and they are packed in like sardines too. When speaking with former colleagues, the topic of interns often comes up. I had drinks with some last week who mentioned her team had so many interns that some FTEs needed to double-up to manage the…

That sounds like disaster waiting to happen. Just thinking about my skills as an intern vs. my skills now: good luck to that employer when, 3 years down the line, most of the interns and current FTE's have left and the code is unreadable.

Re: Americans' fear of losing their jobs grows

#147

Post by 033803throwaway » Tue, Sep 10, 2019, 6:13 PM UTC

glitchc wrote: post #35

I think this reflects a general erosion of trust between employers and employees, which I blame Corporate America for. It used to be a tacit agreement in the workforce that if you worked hard, the boss and the company would take care of you. This illusion has been shattered first by the employers (outsourcing, at-will employment, gig economy), and now the employees (ghosting, switching firms without notice). The lack…

Social trust has been declining for half a century:

https://archive.is/u9Jex

It's one of the most pressing issues in sociology and is rarely discussed at all, and typically discussed dishonestly when it is.

Re: Americans' fear of losing their jobs grows

#148

Post by drdeadringer » Tue, Sep 10, 2019, 6:20 PM UTC

munificent wrote: post #39

VonGuard wrote: post #5

The United States is weird in that you are defined, here, by your job or profession. TV shows put your job title under your name when you appear on them. People's first question is always "What do you do?" at parties and at events. In other countries, this isn't always the case. When I'm in Europe, people ask where you're from, what's for dinner, and what's happening? The question of your job is rarely asked up front…

> People's first question is always "What do you do?" at parties and at events. ... When I'm in Europe, people ask where you're from A charitable interpretation is that it's better to ask someone about an aspect of themselves they control over one that was a product of purely random chance. Both tell you many things about the person, but the former gives the person more influence over how they are perceived. I grew u…

I am curious if there is a polite way to avoid answering this question, even if it means lying.

Re: Americans' fear of losing their jobs grows

#149

Post by curryst » Tue, Sep 10, 2019, 6:22 PM UTC

seisvelas wrote: post #138

dhhdhdsbdb wrote: post #125

Earlier quoted context omitted.

Otoh, we have far more marketers, professional writers, video editors, programmers, and people who make their own profits via YouTube etc. And a drastic drop in birth rate should mean fewer people so favor labor.

Declining birth rate would also reduce demand for labor, not just supply, no? Assuming that the relationship between population and demand for labor is linear (probably isn't, I don't know economics).

I think it's a delayed effect. As the populace ages, people who are retired (from when birthrates were higher) will make up a larger percentage of the total population. There's some existing info on this out there, but most of what I have seen focuses on how this will impact Social Security in the US.

Re: Americans' fear of losing their jobs grows

#150

Post by wj » Tue, Sep 10, 2019, 6:22 PM UTC

pnutjam wrote: post #136

Ancalagon wrote: post #130

Earlier quoted context omitted.

I would say sure, if it werent for the fact that a lot of major corporations are currently having some of their most profitable years ever. And if you consider companies like Apple that are sitting on literal mountains of cash, this argument breaks down.

I heard Apple is issueing bonds, since interest rates are low. Can't fathom why.

They can borrow money at a few percent interest rather than bring their profits from overseas back to the US and pay the corporate tax rate on it.