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

Re: US economy unexpectedly sheds 92k jobs in February

#281

Post by atonse » Fri, Mar 06, 2026, 4:02 PM UTC

sbarre wrote: post #274

atonse wrote: post #231

Earlier quoted context omitted.

This is true in most scenarios, and the opposite is also true – that Americans are famously friendly, and even though Canadians may not want to visit to make a point, I think even they would agree that most day to day interactions they'd have would be warm and welcoming. There might be a bit more hockey ribbing for the next few weeks, but I know there's a ton of respect for Canada's team. At the end of the day, the i…

I am also a Canadian who has decided not to visit the US until further notice, and honestly, I'm sad about it. In my 20+ years of regularly travelling to the States, I've almost always had great interactions with the people I've met in all parts of the US I've visited, and I've been all over. "Warm and welcoming" is a very good description. I hope to be able to visit again in the future.

Same has been true the 2-3 times I've visited Canada. I don't think that'll change. I remember how things got pretty heated during the run up to the Iraq War. And we hope that the friendship will endure.

But I'm a pretty optimistic person anyway.

Re: US economy unexpectedly sheds 92k jobs in February

#282

Post by tyre » Fri, Mar 06, 2026, 4:03 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…

Or it’s possible he was lying!

If Block is really so much more efficient, while doing well, they should invest that talent into expanded products and services. But that’s not what we’re seeing.

Some things:

- They acquired AfterPay for $29bn. Their market cap today, after the big AI bump, is $40bn. BNPL did not pay off the way payments companies thought it would.

- They have a weird internal combination of Cash and Square and AfterPay internally. They’re not as unified as they ought to be.

This feels more like Jack coming to terms with a company that’s hugely inefficient organizationally. It’s easier to clear out thousands of people and rebuild.

Re: US economy unexpectedly sheds 92k jobs in February

#283

Post by captainbland » Fri, Mar 06, 2026, 4:03 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%.

On top of the stringent border checks and Minneapolis, Brits are now seeing things like this and thinking twice: https://www.theguardian.com/us-news/2026/feb/21/karen-newton...

Re: US economy unexpectedly sheds 92k jobs in February

#284

Post by mv4 » Fri, Mar 06, 2026, 4:04 PM UTC

Why is this unexpected? Seasonal sales hiring is over. Tech is cutting jobs (because AI). Things are generally bleak right now.

Re: US economy unexpectedly sheds 92k jobs in February

#285

Post by prh8 » Fri, Mar 06, 2026, 4:04 PM UTC

jandrewrogers wrote: post #176

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.

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…

For readers not in Washington, there is currently legislation being worked on that is essentially a millionaire's tax, (simplified as) 10% income tax on income over 1 million dollars, inflation adjusted.

There are a few very angry, emotional, and vocal opponents of this in most corners of the internet, although very few of them actually make a million dollars and there are many million+ income people supporting this.

Demographically, there are over 3 million households in WA, and only 20k of them would be affected.

Re: US economy unexpectedly sheds 92k jobs in February

#286

Post by tehjoker » Fri, Mar 06, 2026, 4:06 PM UTC

TwoNineA wrote: post #121

iso1631 wrote: post #105

Earlier quoted context omitted.

It's not the government that's the problem per-se, it's the fact half the US supports that government

Controversial opinion, it's way more than half: 1/3 voted for the orange man, 1/3 didn't bother go to vote because "BoTh SideS ARe thE SamE!" and 1/3 tried to do the right thing.

The democrats are complicit in genocide. Trump is attacking allies too, but they’re both criminal. The main difference is “worthy and unworthy” victims.

Re: US economy unexpectedly sheds 92k jobs in February

#287

Post by yCombLinks » Fri, Mar 06, 2026, 4:07 PM UTC

TwoNineA wrote: post #163

JohnMakin wrote: post #139

Earlier quoted context omitted.

It may surprise you, but it’s generally accepted that 1/3rd is less than 1/2.

1/3 explicitly approve and 1/3 implicity approve. If my math is mathing, that's 2/3 and it's larger than 1/2.

I'm in one of the many states where my vote doesn't matter. Deep red. Doesn't make me a supporter

Re: US economy unexpectedly sheds 92k jobs in February

#288

Post by HEmanZ » Fri, Mar 06, 2026, 4:07 PM UTC

jandrewrogers wrote: post #269

galleywest200 wrote: post #210

Earlier quoted context omitted.

Golden Goose? WA has a massive budget shortfall.

There has been zero accountability for that massive budget shortfall. Revenue has increased 2x over the last decade with nothing to show for it. People are rightly skeptical of giving them even more money. And they have gone about trying to increase revenue even more in just about the most toxic ways possible, which will almost certainly erode the tax base. That state desperately needs to restructure its finances but…

“ Most of the attraction of living there historically was its extremely business-friendly environment.”

How old are you? What propaganda told you this? In my generation (young millennial/genz) the attraction of living in Seattle, which pulled me and almost a dozen professional friends at this point has been:

- high quality urban living in a temperate environment. Including access to great parks, waterfront, bikeability in the city

- access to great outdoors and regional amenities like skiing, ocean fishing, hiking, wine country

- liberal policies and general friendly society (it’s friendlier here than the east coast)

- no state income tax (we’re all very high tax bracket)

- a high enough income population that you can find a plethora of high-end products and services that cluster around high income earners (only a few us cities have this stronger than Seattle I feel)

Re: US economy unexpectedly sheds 92k jobs in February

#289

Post by andsoitis » Fri, Mar 06, 2026, 4:07 PM UTC

I’m not sure it is unexpected. Jobs dwindle when there’s uncertainty.

And we have a lot of economic, political, and geopolitical uncertainty.

So, if anything, I would be surprised if we don’t see this level of job reduction consistently for at least the rest of the year.

What is less clear to me is whether it will accelerate or whether it will continue for a few years.

Re: US economy unexpectedly sheds 92k jobs in February

#290

Post by marcosdumay » Fri, Mar 06, 2026, 4:08 PM UTC

epistasis wrote: post #197

Mass deportation means economic contraction. The administration has promised to deport millions of people. Mass deportations on this scale will have a somewhat drastic effect, and the true mass deportation hasn't even started, because they haven't built enough concentration camps to facilitate the deportations. Unless it is stopped the job losses will be absolutely massive, and a tiny tiny footnote to the massive hum…

Mass deportation means economic contraction, and if done quickly it means economic disruption and loss of domestic wealth.

Indiscriminate tariffs means deindustrialization, unpredictable tariffs means stagnation (inability to grow).

Blatant corruption means stagnation.

Aggressive international relations means disruption of any market that touches the rest of the world (with loss of wealth). Active war means the same thing as mass deportation and non-productive spending, so more contraction.

Trump has an incredible ability to hit all the targets.