Blame it on Biden or "AI"? (should have made this into a poll... :) )
US economy unexpectedly sheds 92k jobs in February
261–270 of 836 posts
Re: US economy unexpectedly sheds 92k jobs in February
#262Earlier quoted context omitted.
The idea doesn't really make sense to me. We know LLMs increase productivity, especially for coding, but increasing productivity shouldn't make you fire people unless your business has already exhausted any potential for growth. Instead we would expect the increased productivity to grow businesses further and increase hiring for all other tasks that LLMs are still not good at.
> Instead we would expect the increased productivity to grow businesses further This assumes infinite demand which is not a good assumption imo. Especially if people are losing their jobs.
Re: US economy unexpectedly sheds 92k jobs in February
#263I 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 live in Switzerland, and literally everybody I talk to in our circles - bankers, doctors etc. despises US right now. The idea of going there as a tourist is immediately laughed at or met with puzzled look. Professional reasons or conferences are not even brought up, its automatic no and employers usually don't even try suggesting those.
We ourselves with kids wanted to do the trip either this or next summer, but hell will freeze sooner. Some meager +-10k from us, I know just a drop in the ocean but there could have been many such drops. Other, less hostile economies deserve these way more.
Re: US economy unexpectedly sheds 92k jobs in February
#264Earlier quoted context omitted.
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.
Absolutely, my partner would love to visit national parks south of the border this summer but we decided we'd much rather spend our money in our own economy for the time being. That's not even considering the risk getting snatched by immigration anywhere in the country.
If you spend money in Canada, then you are taking stuff from Canadians. If you spend your money in the US, then you are taking stuff from Americans.
You might wonder what happens at the limit - why don't Canadians just spend all their money in the US and take all America's stuff (just a thought experiment)? Because currencies adjust. Canadians would need US Dollars to buy stuff in the US, and as more and more Canadians try to do that, the exchange rate would change to devalue the Canadian Dollar against the US Dollar, effectively making things more and more expensive for Canadians until they are forced to get their stuff elsewhere.
Re: US economy unexpectedly sheds 92k jobs in February
#265Earlier quoted context omitted.
Seems like many people here in Germany also don't want anything to do with the US any longer as well. I myself wouldn't go to the US, even before Trump, and recently also heard from someone else, who wants to travel around the world, that they will not be visiting the US, due to what is going on over there. Just 2 anecdotes, N=2 of course, but I can imagine many people sharing the worries or concerns about visiting t…
Statistics Canada has over the last year shown that tourism to US from Canada is down by a lot and it's not getting better. Hell, as an anecdote, I keep seing ads on TV like: Come to Disneyland! We got rebates for canadians! Edit, didn't realise it was this bad: https://www150.statcan.gc.ca/n1/daily-quotidien/260223/dq260...
Re: US economy unexpectedly sheds 92k jobs in February
#266Re: US economy unexpectedly sheds 92k jobs in February
#267Earlier quoted context omitted.
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.
Absolutely, my partner would love to visit national parks south of the border this summer but we decided we'd much rather spend our money in our own economy for the time being. That's not even considering the risk getting snatched by immigration anywhere in the country.
Well, I guess, they might have been auctioned off to some billionaire at that point so… the tickets will probably be pricier but the facilities should be shiny and new.
Re: US economy unexpectedly sheds 92k jobs in February
#268I grew up in the US and lived there for 30 years, but now I live in Europe. Every single one of my friends in their 30's finds visiting the US absolutely terrifying (even those who have previously been). I have yet to meet a single friend in today's day that has expressed any interest in visiting.
Re: US economy unexpectedly sheds 92k jobs in February
#269Earlier quoted context omitted.
In Washington it is much broader than the tech sector. Washington is being buried in indefensibly bad legislation that is extremely hostile to large companies and tech companies of every size for openly ideological reasons. It has rapidly become one of the worst business environments in the country when it used to be one of the best. Many companies have stopped or reduced hiring in Seattle and are moving operations t…
Golden Goose? WA has a massive budget shortfall.
That state desperately needs to restructure its finances but the legislature is almost complete captured by clueless ideologues. Washington isn't California. Most of the attraction of living there historically was its extremely business-friendly environment.
I've lived a large fraction of my life in Washington and I'm watching the State commit suicide in real-time.
Re: US economy unexpectedly sheds 92k jobs in February
#270There'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 can only speak from anecdotal experience in that I just witnessed this week, dev team leads and architects “replaced” by Claude code, they kept the offshore junior-mid coders and are giving them $20/mo pro accounts… (doesn’t that seem a little backwards?)