Wasn't this always the idea behind combating inflation? At the end of the day you need to make people poorer to make the dollar worth more...
US economy unexpectedly sheds 92k jobs in February
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Re: US economy unexpectedly sheds 92k jobs in February
#12> It marked the biggest monthly job loss since October, when the US government shut down, and came amid concerns that a jump in oil prices sparked by the US-Israel war in Iran could threaten growth.
It seems like a stretch to say anyone was pro-actively fired on the speculation that a war could break out in the middle east; so the war is probably unrelated. That said, if the Strait of Hormuz stays closed for any length of time then something pretty drastic could happen to employment in the future tense.
Re: US economy unexpectedly sheds 92k jobs in February
#13If the government-approved numbers are this bad the real ones must be catastrophic.
Re: US economy unexpectedly sheds 92k jobs in February
#14[flagged]
Re: US economy unexpectedly sheds 92k jobs in February
#15I would like to know how much contraction is normal. I assume there's always some contraction around that time, because the holiday season is ending and the temp workers are being let go. I didn't see any mention of this in the article though (or I missed it).
> US economy >> unexpectedly << sheds 92,000 jobs in February
Ok but was the expected loss 60k or 0?
Makes a big difference.
Re: US economy unexpectedly sheds 92k jobs in February
#16The only people left defending the economic “policies” by the current administration are the people who are in a position to profit from all the confusion and chaos.
Add to that the people who don’t understand that they are being fleeced and who’ll continue to support theire heroes because of pride, hatred, nihilism or misinformed idealism.
There is a vocal minority in the last bracket, but I’m convinced they are being amplified by an army of bots.
Re: US economy unexpectedly sheds 92k jobs in February
#17"unexpectedly"
Re: US economy unexpectedly sheds 92k jobs in February
#18There'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'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 white collar workers what they have already done to everyone else. Whether or not AI actually can replace all these workers is nearly moot, they have fantasized about business without labor for so long they can't tell the difference from reality anymore.
Re: US economy unexpectedly sheds 92k jobs in February
#19Unexpectedly, if you've been in a coma for the past year. Let's raise tariffs again.
Exactly, massive price increases with the fake tariffs, hiring freezes because 'AI can do it all', who knew these things might affect jobs?
"As long as it's just theoretical I don't have to feel bad. Just keep plowing ahead and breaking things."
Well it's about to turn from theory to reality very soon.
Re: US economy unexpectedly sheds 92k jobs in February
#20Crazy thing is people will vote for this again. Some against their best interest. Others because they appreciate the divide that comes from this type of admin.