This economy is overdue for a correction. Manufacturing is already contracting, albeit somewhat distorted by the U.S.-China trade war. Many were predicting a recession three years ago, but the economy keeps defying gravity. How much longer this can last is anyone's guess.
Well, tech is really well paid, and tech workers tend to spend a lot of money buying things. Considering consumer spending is almost 70% of US GDP, when people lose jobs (especially good high paying ones), other industries tend to suffer. This can start a downward spiral.
While I agree layoffs don’t equate recession they are often a precursor. Of course hirings should be considered too. Layoffs > hirings is almost always a bad sign for the economy.
Exactly. Especially with growing wages and shrinking revenues. Watch for the first uptick in unemployment claims. Companies will cut workers to make estimates.
Read the article and not once do they offer the data that would give this metric any real context. How much hiring was going on in that same period. For all we know 64K layoffs occurred in dying sectors of the industry while 100K jobs (made up hypothetical number) we created in new segments. Without context, 351% means nothing.
Yes, a number of companies with unsustainable business models experienced layoffs. And old guard tech companies are in a constant state of layoffs and hiring at the same time. Meanwhile, the vast majority of tech is hiring with a voracious appetite and the big players are expanding around the country/world. Will there be an inevitable downturn at some point? Absolutely, but this article is grasping at straws and provides zero insight into what is actually happening in the industry.
I don't know why this is getting downvoted. U.S. politics have gotten so toxic that anytime someone's "team" is not in power, they're cheer-leading for a recession. Conservatives did this under Obama and now liberals are doing it under Trump. Pointing out this fact is germane to the discussion.
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[ 0.92 ms ] story [ 62.6 ms ] threadhttps://www.thebalance.com/consumer-spending-trends-and-curr...
It's a joke but I have seen things too close to it in reality.
They're tightening the belts so my entire team got jettisoned. And we were a pretty efficient team.
The source is Salon.
That's all you need to know. The purpose of the article is clear.