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The tech downturn seen through Hacker News comments

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Re: The tech downturn seen through Hacker News comments

#31
post #17

Earlier quoted context omitted.

That seems absurdly high if you're talking about fully remote.

We're talking about advertising for jobs on Hacker News. Maybe there is just not much value to advertising location-specific jobs in these threads.

You're almost certainly right. But it also means that the postings are very unrepresentative of the broader market.

Re: The tech downturn seen through Hacker News comments

#32

Earlier quoted context omitted.

The downturn is hitting all companies and all jobs. It’s bad out there. What’s perverse, and not being discussed enough, is that this is an engineered recession. Rather than admit our economy no longer works, the Fed can alternate between low and high interest rates (inflation or unemployment, take your pick) and so, even though bad things are happening, the fact that it’s different bad stuff each year makes it look…

> Rather than admit our economy no longer works What do you mean our economy no longer works?

Hockey stick deficit growth YoY.

Re: The tech downturn seen through Hacker News comments

#33

This trues up with what I'm anecdotally seeing in my clients. RTO-3 days or even RTO-5 days is being pushed aggressively in some of them, and the general feeling amongst their rank and file is it is a stealth layoff (no severance for those leaving due to the policy switch is a big financial incentive for the companies). A big challenge I'm not seeing really addressed though is a lot of staff at my clients stepped up…

How are the big companies going to justify any effort they put against climate change?

Sounds stupid but forced return to office will also do enormous damage to the environment

Re: The tech downturn seen through Hacker News comments

#34

Earlier quoted context omitted.

> Rather than admit our economy no longer works What do you mean our economy no longer works?

Hockey stick deficit growth YoY.

FY 2020 (Oct 1, 2019-Sept 30, 2020) was a sharp increase in the deficit, 2021 and 2022 were decreases, 2023 YTD is an increase over the same period in FY 2022.

Its nothing like hockeystick growth.

EDIT: I suppose if you overenthusiastically extrapolate from, like, just the last three data points the trade rather than budget deficit might distantly resemble that, but...

Re: The tech downturn seen through Hacker News comments

#37
post #30

Earlier quoted context omitted.

How do they calculate this rate? I simply left the country after layoff, and most likely not counted in the numbers.

The US BLS has 6 different unemployment measures. The one that's usually quoted is U-3 which means unemployed but seeking work. But if you left the country, I assume you're not counted in any unemployment measurement. (Though I also assume that's a sufficiently unusual edge case that it doesn't really move the needle on any of the statistics.)

In the US, you're not "unemployed" if you don't have a job and you don't want one.

I believe if you're a US citizen vacationing long-term in France because your work prospects aren't great at the moment - you'll still show up as not in the labor force in the labor force participation rate: https://fred.stlouisfed.org/series/CIVPART

But you won't show up in u-1 through u-6.

> Discouraged workers (U-4, U-5, and U-6 measures) are persons who are not in the labor force, want and are available for work, and had looked for a job sometime in the prior 12 months

Source: https://www.bls.gov/lau/stalt.htm

Re: The tech downturn seen through Hacker News comments

#39
post #38

Is this downturn affecting all regions at the moment or mostly just USA? I wonder how the overall HN comments are trending.. More people with free time to waste on HN or less people with a reason to slack off and waste time on HN..

FAANG-style companies are laying off in Europe, too. So are start-ups.

Re: The tech downturn seen through Hacker News comments

#40

Earlier quoted context omitted.

The downturn is hitting all companies and all jobs. It’s bad out there. What’s perverse, and not being discussed enough, is that this is an engineered recession. Rather than admit our economy no longer works, the Fed can alternate between low and high interest rates (inflation or unemployment, take your pick) and so, even though bad things are happening, the fact that it’s different bad stuff each year makes it look…

> Rather than admit our economy no longer works What do you mean our economy no longer works?

everyone is exorbitantly indebted to everyone. At some point, someone has to put some reality back into the simulacrum because simulacrum does not feed your family
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