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Job seekers giving up: Labor force participation falls to lowest in 50 years

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Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#51

Post by ben_w »

cute_boi wrote: post #35
TrackerFF wrote: post #16

Today I read about Accenture Norway taking in 56 summer internship students from over...1600 applicants. Record year, they reported. Previously I imagined only the top-top tier firms could enjoy low single-digit acceptance rate, but here we have Accenture crushing it. Competition must be tough. (But for what I know, could be that AI has made it easier for people to spam everyone with applications)

Companies like Accenture/Infosys/TCS is the reason people are losing job. They outsource so much and tries to bribe managers to hire in India.

Of course Accenture outsources stuff.

They're based in Ireland. There's like 42k software developers in the entire country* and Accenture has 779k staff**, so they had to hire people in foreign places like Norway and the USA.

* OK, it says "Computer Programming": https://enterprise.gov.ie/en/publications/publication-files/...

** and I have no idea how many of them do "Computer Programming"

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#52

Post by rwmj »

ghaff wrote: post #32
TrackerFF wrote: post #16

Today I read about Accenture Norway taking in 56 summer internship students from over...1600 applicants. Record year, they reported. Previously I imagined only the top-top tier firms could enjoy low single-digit acceptance rate, but here we have Accenture crushing it. Competition must be tough. (But for what I know, could be that AI has made it easier for people to spam everyone with applications)

My guess is that it's simultaneously easy for a lot of companies to do automated filtering and for candidates to do a lot of automated applications in a way that's easier than sending out a bunch of envelopes. Which makes it harder for candidates who don't have either networks or impressive credentials.

I wonder if there'd be some value to only taking job applications by post.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#53

Post by 0x20cowboy »

crossbody wrote: post #4

Sounds more like people retire somewhat early - for 25-54yo labor force participation near all time high: https://fred.stlouisfed.org/series/LNS11300060 And here is one for 55+yo: https://fred.stlouisfed.org/series/LNS11324230 All is fine

I suppose it’s in how you word it. I’ve given up on trying to get a job because there is no point in trying. I can’t afford to pay my rent, but I guess you could call that early retirement.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#54

Post by rwmj »

chilldsgn wrote: post #26

I wish I could quit working. It is hell. Employers DGAF about people, so why should we care about them?

Save over 50% of your salary for relatively few years and you can.

https://www.mrmoneymustache.com/2012/01/13/the-shockingly-si...

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#55

Post by klipklop »

Take an hour off at 2-3pm in any major US city and look at how many people are just milling about. Mostly shopping. There are a lot of people in the US that are not working.

Pre-2008 retail was quiet in the middle of the day, now it booms. I can’t comment on if this is a good or bad thing, but I am surprised at how many people are causally walking their dog as I am rushing to compete an essential errand and get back to work.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#56

Post by theodric »

SlightlyLeftPad wrote: post #15
theodric wrote: post #3

And I'm not going back, either. Reckon I can slowly liquidate assets for as long as I have left to live. To hell with all this shit, my farm is enough.

But you must pay tribute in the form of thousands of dollars in property taxes. Your first born child may also be acceptable.

€98/yr

Not everywhere is America, fellow hacker.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#57

Post by [deleted] »

lovich wrote: post #40
gruez wrote: post #28

Earlier quoted context omitted.

And yet, the amount of redistribution that's happening has never been higher, far exceeding the era of "94% tax rate on the rich", never mind that nobody actually paid that rate because the tax code was full of exemptions at the time. https://www.economist.com/content-assets/images/20260221_IRC... https://www.economist.com/content-assets/images/20260221_IRC...

I don’t see how this graph shows that claim. It says it’s graphing the effect of welfare on income ratios between top 10% vs the bottom 50% then just has an arrow pointing down saying “Stronger redistribution” Where is the connection between the percentage being graphed and whatever their definition of “stronger redistribution” is? And I just realized the second graph includes capital gains for the fiscal income but…

[deleted]

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#58

Post by lifestyleguru »

Loughla wrote: post #46
an0malous wrote: post #7

The money printing during COVID screwed everything up. Most of the capital was directly given to banks and businesses, fraudulently in many cases and unnecessarily in most, and everything pooled up into real estate and stocks so anyone who had already owned a large proportion of those became absurdly wealthy in the span of a couple years and everyone else effectively lost 20-30% of their income through inflation. The…

Google Disaster Capitalism. What we've done to other countries has finally turned inwards. It was just a matter of time.

Oh the sweet shock therapy. Kids sniffing glue, women emigrating to prostitute, emergency services and doctors killing people for kickbacks, oligarchs, organized crime. Fun times.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#59

Post by [deleted] »

mc32 wrote: post #17
woah wrote: post #10

Earlier quoted context omitted.

Man rebels against capitalist system by living off of proceeds of ownership shares of capitalist system

Well, things don’t just appear from thin air. Someone has to work. Foraging isn’t much of an option in non tropical regions.

[deleted]

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#60

Post by ghaff »

rwmj wrote: post #52
ghaff wrote: post #32

Earlier quoted context omitted.

My guess is that it's simultaneously easy for a lot of companies to do automated filtering and for candidates to do a lot of automated applications in a way that's easier than sending out a bunch of envelopes. Which makes it harder for candidates who don't have either networks or impressive credentials.

I wonder if there'd be some value to only taking job applications by post.

An interesting question but arguably a lot of the most qualified applicants will go FU at that point and only the most desperate will put a stamp on an envelope which is probably not what you want.

Honestly, it probably comes down to more networking and credentials.

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