US economy unexpectedly sheds 92k jobs in February • Hacker News Board

Re: US economy unexpectedly sheds 92k jobs in February

#241

Post by JoeCortopassi » Fri, Mar 06, 2026, 3:40 PM UTC

nerdsniper wrote: post #30

giraffe_lady wrote: post #18

Earlier quoted context omitted.

I'm not sure how much of it is actually AI vs just like, the bags of VC money have dried up and most tech companies can't anywhere near justify their personnel or often even existence without it. Like companies have been doing the RTO "stealth" layoffs for years now, it's not even news anymore, this was already well underway. There is also the obvious priapism of owners and investors to finally do to the remaining wh…

Where is the money that was going to VC investments going now? With increasing inequality, I figure rich people have more money than ever that they need to figure out where to invest.

The big money is going to the OpenAI/Anthropic types producing foundation models that have to raise billions on a regular basis. This is money that would normal be spread across the startup ecosystem instead of concentrated in a handful of massive companies. When it finally hits IPO, I'd bet that you see it start to get freed up for new investments

Just to drive the point home, in 2019 the total VC market was ~$300 billion. To date, roughly $235 billion is tied up in just OpenAI ($168b) and Anthropic ($67b)

Re: US economy unexpectedly sheds 92k jobs in February

#242

Post by greedo » Fri, Mar 06, 2026, 3:40 PM UTC

AndrewKemendo wrote: post #196

aliljet wrote: post #6

There's a vibe in at least the PNW that feels like the tech sector is sloughing jobs and avoiding creating new ones courtesy of AI. I genuinely wonder if that feeling is backed by reality and whether it's large enough to be translating into national statistics across all industries.

I mean Dorsey literally just said publicly that he’s laying off people in order to utilize AI like what more clear point do you want? Whether or not you believe that this is a good or bad move, correct or lying move, whether AI is capable or not, “AI” is the reason that CEOs are utilizing to cut roles The timing of this is based on the fact that Capital is striking from deploying money to anything else outside of the…

Sure, a CEO has never lied before about the reasons for layoffs.

Re: US economy unexpectedly sheds 92k jobs in February

#243

Post by hypeatei » Fri, Mar 06, 2026, 3:41 PM UTC

masklinn wrote: post #208

hypeatei wrote: post #169

Earlier quoted context omitted.

I upvoted you because I think the current culture is too "blameless" with regards to voters themselves. "But the party just ran a bad candidate!" "Egg prices were too high!!" "Kamala would've been just as bad for Gaza as Trump!" No, sorry, voters don't get a pass because they're apathetic or love being the "enlightened centrist" that lets fascism takeover.

Don't forget the evergreen "it's just politics it doesn't have to affect our relationship".

Oh yes, that's a classic line. They pretend as if we're just debating what the tax rate should be or some other benign talking point.

Re: US economy unexpectedly sheds 92k jobs in February

#244

Post by epistasis » Fri, Mar 06, 2026, 3:42 PM UTC

nerdsniper wrote: post #30

giraffe_lady wrote: post #18

Earlier quoted context omitted.

I'm not sure how much of it is actually AI vs just like, the bags of VC money have dried up and most tech companies can't anywhere near justify their personnel or often even existence without it. Like companies have been doing the RTO "stealth" layoffs for years now, it's not even news anymore, this was already well underway. There is also the obvious priapism of owners and investors to finally do to the remaining wh…

Where is the money that was going to VC investments going now? With increasing inequality, I figure rich people have more money than ever that they need to figure out where to invest.

For a long time interest rates were incredibly low which led a ton of investors to put money into VC funds, despite their very high risk.

When interest rates go up, money floods out of higher risk higher return areas like company formation, and floods back into buying bonds, so investors can collect the low-risk interest that didn't exist before.

Re: US economy unexpectedly sheds 92k jobs in February

#245

Post by jrjeksjd8d » Fri, Mar 06, 2026, 3:42 PM UTC

cheesecompiler wrote: post #29

testfrequency wrote: post #4

I do not see the tourism industry mentioned here but I have to imagine that is a huge loss right now. Most of the world is not visiting the US right now which means projects and planning that was made in anticipation for summer has probably been halted or heavily reduced.

There is a significant majority of people in Canada who not only vocally decided to not go to US but discourage their friends from doing so too. People have judged me for driving through the states.

I think the "elbows up" rhetoric among boomers is kind of stupid, but for safety reasons I have avoided going to the US. Otherwise I probably would have travelled 5-6 times in the past year.

Re: US economy unexpectedly sheds 92k jobs in February

#246

Post by esseph » Fri, Mar 06, 2026, 3:42 PM UTC

saalweachter wrote: post #51

nerdsniper wrote: post #30

Earlier quoted context omitted.

Where is the money that was going to VC investments going now? With increasing inequality, I figure rich people have more money than ever that they need to figure out where to invest.

Real estate?

If so, not commercial. Commercial has been in a slow collapse + shell game of shifting the debt burden.

Re: US economy unexpectedly sheds 92k jobs in February

#247

Post by onion2k » Fri, Mar 06, 2026, 3:43 PM UTC

Luc wrote: post #182

onion2k wrote: post #117

Earlier quoted context omitted.

Allegedly the biggest package tour operator in the UK has seen a 72% drop in holidays to the US for 2026.

That can't be right, the real figure is probably closer to 7%.

I don't think it's entirely due to US politics. The strength of the dollar against the pound, the perception of the US as not being a fashionable place to go, the fact that most news about the US in the UK media is either war, Epstein, or ICE, measured against some very competitive offers for other destinations that don't have those problems, makes me believe it's certainly a high percentage. FWIW in my teams (approx. 100 people, all in the UK) I can only think of one person who travelled to the US in the last year, and that was a trip to Disney they'd had booked in for a while. The rest have all been going to southern Europe, Japan etc.

Re: US economy unexpectedly sheds 92k jobs in February

#248

Post by Pxtl » Fri, Mar 06, 2026, 3:43 PM UTC

cheesecompiler wrote: post #29

testfrequency wrote: post #4

I do not see the tourism industry mentioned here but I have to imagine that is a huge loss right now. Most of the world is not visiting the US right now which means projects and planning that was made in anticipation for summer has probably been halted or heavily reduced.

There is a significant majority of people in Canada who not only vocally decided to not go to US but discourage their friends from doing so too. People have judged me for driving through the states.

It's smaller than you'd think, but more than enough to make a real dent.

December 2025, statscan calculated that cross-border auto traffic was down 30% (mostly same-day trips).

Air travel is only down 11%, and air travel to other countries is up 13%.

https://globalnews.ca/news/11679293/us-canada-travel-rates-d...

They didn't break down how much of that was tourism vs work.

Re: US economy unexpectedly sheds 92k jobs in February

#249

Post by throw0101d » Fri, Mar 06, 2026, 3:44 PM UTC

hyperpape wrote: post #181

testfrequency wrote: post #4

I do not see the tourism industry mentioned here but I have to imagine that is a huge loss right now. Most of the world is not visiting the US right now which means projects and planning that was made in anticipation for summer has probably been halted or heavily reduced.

I am a US citizen living in Portugal. I have the right to go to the US, live there, etc. I recently went back for a funeral, and I had to spend a moment reminding myself that it would be fine for me. For people who don't have my passport, I wouldn't feel comfortable telling them "it will be fine", though I would still tell a European "the odds of a problem are relatively low." But I couldn't in all honesty say "there…

> I recently went back for a funeral, and I had to spend a moment reminding myself that it would be fine for me.

Your passport does not matter, the colour of your skin does:

"US citizens jailed in LA Ice raids speak out: ‘They came ready to attack’":

* https://www.theguardian.com/us-news/2025/aug/05/us-citizens-...

"A U.S. citizen says ICE forced open the door to his Minnesota home and removed him in his underwear after a warrantless search"

* https://www.pbs.org/newshour/nation/a-u-s-citizen-says-ice-f...

* https://en.wikipedia.org/wiki/Kavanaugh_stop

Re: US economy unexpectedly sheds 92k jobs in February

#250

Post by epistasis » Fri, Mar 06, 2026, 3:44 PM UTC

AndrewKemendo wrote: post #196

aliljet wrote: post #6

There's a vibe in at least the PNW that feels like the tech sector is sloughing jobs and avoiding creating new ones courtesy of AI. I genuinely wonder if that feeling is backed by reality and whether it's large enough to be translating into national statistics across all industries.

I mean Dorsey literally just said publicly that he’s laying off people in order to utilize AI like what more clear point do you want? Whether or not you believe that this is a good or bad move, correct or lying move, whether AI is capable or not, “AI” is the reason that CEOs are utilizing to cut roles The timing of this is based on the fact that Capital is striking from deploying money to anything else outside of the…

Dorsey is in a huge bind with runway and lack of revenue. Blaming AI for a massive cut needed just to get by lets investors trick themselves into believing that he has a plan that makes the company grow to reach the level of profitability that the stock prices suggests will happen.

And perhaps Dorsey has a long enough of a runway for something to come along to save the company from eventual collapse. Maybe not, since firing 40% of a company tends to put a damper on innovative efforts that would massively grow revenues.