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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

#61

Earlier quoted context omitted.

> 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

If people keep spending $40k for a car a millions $$ for a house … well it is definitely not gonna end up well…

Re: The tech downturn seen through Hacker News comments

#62
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..

In my country there is almost no downturn but we don't earn US level salaries.

Re: The tech downturn seen through Hacker News comments

#63
post #50

It would be interesting to see the results of your script running on the "Who wants to be hired?" threads [0]. [0]: https://news.ycombinator.com/item?id=34983765

Not the author, but quickly ran a script over "Who wants to be hired?" from Jan-2021 to March-2023 and here is the resulting plot of the top-level comments (where indent="0"): https://www.arminbuilds.com/2021_01-2023_03_hired.png

Seems to anticorrelate pretty well

Re: The tech downturn seen through Hacker News comments

#64
Presumably the right-most data point is from yesterday (3/1/23). Isn't there a potential flaw here in regards to that most recent data point? Whereas in previous months people had all month to post jobs to the monthly job posting thread, there has only been one day since the 3/1/23 job post thread was started. I think this script should be run on the last day of the month, not the first.

Re: The tech downturn seen through Hacker News comments

#66
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.)

It's really not that unusual. At major tech companies a sizeable amount of the workforce is on an H1B

Re: The tech downturn seen through Hacker News comments

#67

We have an expected attrition rate at my company across all departments. We normally lose about 10 people per quarter. This quarter the number of people leaving - zero.

This is my unpopular take on the layoffs at extremely profitable companies

Hiring rates skyrocketed during covid, but so did attrition rates (well, the same people joining Google left some other company)

After big tech started freezing hiring in summer 2022, attrition rates most likely tanked, people wanted to stay put. 6-8 months later, companies ended up with way more employees than they planned, even though they were the ones hiring, cue layoffs. People will crap on Google or Salesforce "why did you hire so much?" - but during the great resignation - what were they supposed to do?

Re: The tech downturn seen through Hacker News comments

#70

Presumably the right-most data point is from yesterday (3/1/23). Isn't there a potential flaw here in regards to that most recent data point? Whereas in previous months people had all month to post jobs to the monthly job posting thread, there has only been one day since the 3/1/23 job post thread was started. I think this script should be run on the last day of the month, not the first.

Yes, you're right. However, the trend during the last months is very clear.
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