what happened to the 'great resignation/dropout wave'? And what will happen to those who participated in the movement?
What’s going on with Google and Facebook hiring freezes?
161–170 of 637 posts
Re: What’s going on with Google and Facebook hiring freezes?
#162Earlier quoted context omitted.
I've never understood how strong labor numbers negate a recession. Like sure your money is worth less because of all the inflation, and your COL keeps increasing but your wages remain the same, but hey we have lots of people working. Maybe somebody smarter than me can explain how these two correlate lol.
Strong labor numbers means wages would be increasing. Perhaps not for all income deciles, but at least the bottom ones (which is a good thing in my opinion since it helps close the income/wealth gap). What would be an issue is the labor participation rate decreasing, which it is, but it may be unavoidable due to things like aging demographics. That means fewer workers supporting non workers, and hence less supply of…
> Strong labor numbers means wages would be increasing.
Wages are increasing, that's one of the inflation drivers people are complaining about.
> What would be an issue is the labor participation rate decreasing, which it is
Not per FRED: https://fred.stlouisfed.org/series/CIVPART It's quite clearly still rebounding from the covid shock. I think you're trying to say that the long term trend is clearly downward. But the subject at hand is the immediate economic environment ("strong labor numbers", "hiring freeze", etc...).
And clearly there's nothing wrong instantaneously with either participation rate nor wages. Those numbers are in fact good, not bad.
Re: What’s going on with Google and Facebook hiring freezes?
#163Earlier quoted context omitted.
I've never understood how strong labor numbers negate a recession. Like sure your money is worth less because of all the inflation, and your COL keeps increasing but your wages remain the same, but hey we have lots of people working. Maybe somebody smarter than me can explain how these two correlate lol.
Strong labor numbers means wages would be increasing. Perhaps not for all income deciles, but at least the bottom ones (which is a good thing in my opinion since it helps close the income/wealth gap). What would be an issue is the labor participation rate decreasing, which it is, but it may be unavoidable due to things like aging demographics. That means fewer workers supporting non workers, and hence less supply of…
Also the US's demographics problem is peanuts compared to Europe and Asia.
Re: What’s going on with Google and Facebook hiring freezes?
#164Earlier quoted context omitted.
Strong labor numbers means wages would be increasing. Perhaps not for all income deciles, but at least the bottom ones (which is a good thing in my opinion since it helps close the income/wealth gap). What would be an issue is the labor participation rate decreasing, which it is, but it may be unavoidable due to things like aging demographics. That means fewer workers supporting non workers, and hence less supply of…
What about real wages, are they also increasing, or only nominal ones do?
> What about real wages
“Real average hourly earnings decreased 3.6 percent, seasonally adjusted, from June 2021 to June 2022. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 4.4-percent decrease in real average weekly earnings over this period” [1].
Re: What’s going on with Google and Facebook hiring freezes?
#165Earlier quoted context omitted.
The "employee" creates a single-person company in Poland (or any other EU country, I guess) and sends invoices monthly. Honestly, it's trivial to set up. I'd say it's even easier than the standard employment process in the EU.
it depends on the EU country. this would be illegal in france for example, considered a "hidden employment contract" (which it is)
How is it solved in France then? I dont' think it's possible to have an trans-national employment contract (which labor laws would the contract observe? The French ones or the US ones?). So, how do French people work remotely for US companies? I don't think most countries' laws are set up for a situation where a company employs a worker that does not live in the same country.
Re: What’s going on with Google and Facebook hiring freezes?
#166Earlier quoted context omitted.
I've never understood how strong labor numbers negate a recession. Like sure your money is worth less because of all the inflation, and your COL keeps increasing but your wages remain the same, but hey we have lots of people working. Maybe somebody smarter than me can explain how these two correlate lol.
Strong labor numbers means wages would be increasing. Perhaps not for all income deciles, but at least the bottom ones (which is a good thing in my opinion since it helps close the income/wealth gap). What would be an issue is the labor participation rate decreasing, which it is, but it may be unavoidable due to things like aging demographics. That means fewer workers supporting non workers, and hence less supply of…
> Strong labor numbers means wages would be increasing
How can you equate these two? Couldn't strong labor numbers also be indicative of an economy in turmoil, forcing many people who no longer had to work back into a job to get by? I guess what I'm trying to say is, shouldn't we be taking a look at the data holistically instead of nabbing one good data point and using that to promote a narrative? Inflation, COL, real wages, unemployment, and many other factors all contribute to the overall picture. Why aren't we using all this data instead of focusing on unemployment only?
Re: What’s going on with Google and Facebook hiring freezes?
#167I suppose this is "old man yells at clouds" material, but I feel like engineers should be practicing for their future jobs , not for interviews.
In our industry, the interview process is completely divorced from the skillset required for the actual job.
Fittingly, this is because Google developed an interviewing process that was scalable, required minimal training, human-interactive or soft skills, and was objectively measurable (leetcode), while non-obviously biasing the interview process towards cheaper, younger interviewees. It is also an interview process that is utterly incapable of differentiating low skill from high skill engineers. For Google, which needed a way to choose between the very best resumes in its pile, this made sense. For the rest of the industry, it does not.
But apparently our industry just does whatever the "big players" do, blindly, so here we are.
Re: What’s going on with Google and Facebook hiring freezes?
#168Earlier quoted context omitted.
The "employee" creates a single-person company in Poland (or any other EU country, I guess) and sends invoices monthly. Honestly, it's trivial to set up. I'd say it's even easier than the standard employment process in the EU.
it depends on the EU country. this would be illegal in france for example, considered a "hidden employment contract" (which it is)
Not sure about France, but in Poland, if you’re sending invoices to an entity that has no presence in Poland, is not incorporated there, has no offices etc, it can hardly be legally seen to be a legal “employment” relationship.
But, assuming the situation above, even if it is illegal (which I strongly doubt), so what? What can the system do here to you? Will it jail you or fine you, or otherwise stop you, the worker, for “illegally” working on a wrong type of contract? After all, it cannot do anything to the company, as it has no jurisdiction over it.
Re: What’s going on with Google and Facebook hiring freezes?
#169Earlier quoted context omitted.
The "employee" creates a single-person company in Poland (or any other EU country, I guess) and sends invoices monthly. Honestly, it's trivial to set up. I'd say it's even easier than the standard employment process in the EU.
it depends on the EU country. this would be illegal in france for example, considered a "hidden employment contract" (which it is)
As a datapoint, in Germany it is not considered "hidden employment contract" unless it is more than 80% of your income. I could imagine some similar rules in France, but I do not know.
An alternative way that probably works in France too is to have a limited company and invoice from that.
Re: What’s going on with Google and Facebook hiring freezes?
#170Earlier quoted context omitted.
Strong labor numbers means wages would be increasing. Perhaps not for all income deciles, but at least the bottom ones (which is a good thing in my opinion since it helps close the income/wealth gap). What would be an issue is the labor participation rate decreasing, which it is, but it may be unavoidable due to things like aging demographics. That means fewer workers supporting non workers, and hence less supply of…
What about real wages, are they also increasing, or only nominal ones do?
Strong labor numbers would necessitate real wage increases, otherwise I do not see how it could be classified as strong labor numbers.
But it can be negative for higher income groups and positive for low income groups simultaneously.