So big tech has 220,000 layoffs and there is not the merest hint of a blip in the unemployment rate. This is not a tragedy - these people are going to find jobs, good jobs. In fact it's quite likely that they will go into roles which might do something other than online advertising. You know, something useful.
Unemployment doesn’t show laid off employees who aren’t yet collecting unemployment benefits. These tech workers got at least 60 days of severance thanks to the warn act.
It's a really misleading stat.