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This isn't an explanation. The job market has been red hot over the past year, and the total of tech layoffs comprise a small fraction of overall job growth in
by SantalBlush 4y ago
This isn't an explanation. The job market has been red hot over the past year, and the total of tech layoffs comprise a small fraction of overall job growth in the US. HN users think there is a recession because they are only focused on their particular industry, and refuse to look at what the actual economy is doing.
- grey-area 4y agoEmployment usually peaks just before a recession, along with denial of course. The real economy is not doing well globally, inflation is a serious problem, and the impact of the rate hikes will take about 10 months to show up (so should hit this year).
- SantalBlush 4y agoI've been reading these predictions on HN for almost a year now, and so far they've been false. If people keep repeating them, eventually we'll witness a recession and they'll be right, but that doesn't make their analyses correct, it just makes them a broken clock.
- grey-area 4y agoSo whatever the outcome, they are wrong and you are right?
- SantalBlush 4y agoThey're giving a broad time frame for recession to hit, and they keep moving it back, so eventually they will necessarily be right. In other words, they make predictions that are so vague, they necessarily can't be wrong. This is why their predictions are useless.
- _justinfunk 4y agoI don't think HN posts are why most people feel like there is a recession.
- twobitshifter 4y agoFed reps are on record as saying interest rate hikes are to get a pullback in labor market, and that’s expected to affect lower paid industries, but with the relationship with investments, it can make sense to see it in tech