Unexpectedly… right
US economy unexpectedly sheds 92k jobs in February
161–170 of 836 posts
Re: US economy unexpectedly sheds 92k jobs in February
#162Earlier 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?
Real estate is not doing well, it's "stalled" but not collapsing, but prices are staying steady and mortgage rates are not down to Covid levels.
Re: US economy unexpectedly sheds 92k jobs in February
#163Earlier quoted context omitted.
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.
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.
Re: US economy unexpectedly sheds 92k jobs in February
#164Earlier quoted context omitted.
What do you mean noise? American people pay 96% of them with an average cost of $1000+ per family over the last year. To the vast majority of people that's waaayyyy above the noise floor.
[flagged]
Do you really intend to make such a blanket statement? If taxes are evil then it follows that any public service (police, roads, airports, hospitals, public education, libraries, publicly funded research) is evil since they are funded by taxes.
Re: US economy unexpectedly sheds 92k jobs in February
#165Earlier quoted context omitted.
I have some Euro friends that went to Dubai instead because the USA is “too dangerous” right now. I wish them safe passage back, but yeesh talk about irrational perspective.
Are you implying they knew that Iran would get bombed and would in retaliation bomb everyone across the Persian gulf?
They definitely should have been aware that it's a significant risk. It can't be predicted with certainty, but it was pretty obvious that there's a good possibility of something kicking off. I occasionally take trips where flights connecting in Dubai would otherwise be a good option, but I won't do it. Partly because I'm the wrong ethnicity (yeah, UAE is buddy-buddy with Israel now... so was Iran before the revolution), but the risk of war breaking out is a big part it.
It's not like this is the first time in recent history that region has been somewhat unsafe for travelers. Or the second time, or third, or fiftieth.
Re: US economy unexpectedly sheds 92k jobs in February
#166I 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.
An acquaintance had his phone taken away at a US airport by a border guard (or whatever you call them) for inspection. The guard went through his messaging apps, read chats. I understand the necessity for occasional physical searches for contraband or what have you, but reading private conversations is beyond what I can stomach. That, together with the infamous case of some guy being forbidden entry to US because he…
That happened to a friend of mine in 2010 so it's not a new thing.
Re: US economy unexpectedly sheds 92k jobs in February
#167Unexpectedly, if you've been in a coma for the past year. Let's raise tariffs again.
The "unexpectedly" is because the people looking at more real-time (but more indirect) indicators were expecting jobs to increase by about 50k or so.
It's rather more like someone going "based on the daily footfall numbers in my store, I expect sales to be up 1% this month" and the actual data being down 2%.
Re: US economy unexpectedly sheds 92k jobs in February
#168Earlier 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.
Last year we cancelled a planned US vacation, this year we didn't even think about it. Going back to Europe two years in a row. I don't give a fuck about tariff policy of our supposed "friends" but when our "friend" repeatedly threatens our independence and sovereignty, no thanks. Not going to step into the USA for a long time.
It’s not even just about threats, you as an individual are in potential danger of being detained without due process by ICE
Re: US economy unexpectedly sheds 92k jobs in February
#169Earlier 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.
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.
Re: US economy unexpectedly sheds 92k jobs in February
#170There'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.
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.
In a shrinking economy there isn't much growth. They can take the productivity gains to shrink their payrolls and get the same output with fewer people
That said I don't think there is a ton of productivity growth yet with LLMs that would show up in the numbers that are getting thrown around. Companies are just finally seeing that they have a bunch of people not doing much at all and cleaning house