3 ms·

Of course they don't know it. They actually believe that the state is better at managing money than the people creating products and jobs.

yellowapple 3y ago
They're actively destroying jobs at this very moment, not creating them. If I had a nickel for every "we're making record profits, oh and we're also laying off 10% of our employees" announcement, I'd be a billionaire.
- MacsHeadroom 3y ago
  Unemployment has never been lower, with jobs growing every month of the past year. January 2024 saw the most growth followed closely by December 2023. https://www.axios.com/2024/02/02/us-jobs-report-january-2024 https://www.axios.com/2024/02/02/us-jobs-report-january-2024
  - yellowapple 3y ago
    > Unemployment has never been lower That doesn't measure underemployment, nor does it measure people who've given up on finding work. That's why it needs to be considered alongside things like the labor force participation rate - which has been on a downward trend since 2000 - and alongside wage growth, which has lagged below inflation since the 70's. > January 2024 saw the most growth followed closely by December 2023. Which jobs, specifically? At what pay? Destroying a $50k/year job to create two $25k/year jobs ain't progress.
    - MacsHeadroom 3y ago
      Labor force participation rate has been rising since COVID. The long term trend is down but not so bad. A decade ago the rate among adult men was 72% while last month it was 70.2% and continuing to rise. https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab... Wage growth beat inflation by almost double most months last year, rising around 5-6% YoY each month vs ~3-4% inflation. https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...
      - yellowapple 3y ago
        Well then I guess we'll see if the trend actually reverses or if it corrects back to how it's been since the 70's. Barring some significant systemic reforms I ain't exactly holding my breath.
  - Draiken 3y ago
    Unfortunately unemployment numbers don't mean shit if you still can't even pay your rent with your salary. This focus on unemployment is absurd. It has nothing to do with the wealth gap. More people working, but always with less wealth, while companies keep getting richer. We could as a society literally end unemployment at any time by redistributing some of the wealth. We don't because it's more profitable to have people worrying if they will be able to eat every month.
- kuratkull 3y ago
  You are looking at a too short of a time frame. Expecting a system to be getting strictly better every second of every day is utopian. The real world has ups and downs, restructuring to accommodate change, shutting down legacy industries, making room for new ideas, etc
  - yellowapple 3y ago
    > You are looking at a too short of a time frame. Wage growth has lagged behind inflation and cost of living since the 70's. There have been multiple job market crashes in my lifetime; I entered the workforce in the middle of the 2008 recession. There have been multiple layoff waves since COVID alone, during each of which companies would lay off significant fractions of their workforce despite making record profits for no discernible reason other than "well everyone else is doing it so we'll do it, too". How much longer of a time frame do you expect me to examine? > Expecting a system to be getting strictly better every second of every day is utopian. Employers have been increasingly shafting their employees for decades. I expect a system to not spend multiple decades getting worse. > shutting down legacy industries My last two jobs were as a cloud infrastructure engineer. If even cloud computing is a "legacy industry" then the vast majority of the users on this website are utterly screwed.

yellowapple 3y ago

They're actively destroying jobs at this very moment, not creating them. If I had a nickel for every "we're making record profits, oh and we're also laying off 10% of our employees" announcement, I'd be a billionaire.

MacsHeadroom 3y ago
Unemployment has never been lower, with jobs growing every month of the past year. January 2024 saw the most growth followed closely by December 2023. https://www.axios.com/2024/02/02/us-jobs-report-january-2024 https://www.axios.com/2024/02/02/us-jobs-report-january-2024
- yellowapple 3y ago
  > Unemployment has never been lower That doesn't measure underemployment, nor does it measure people who've given up on finding work. That's why it needs to be considered alongside things like the labor force participation rate - which has been on a downward trend since 2000 - and alongside wage growth, which has lagged below inflation since the 70's. > January 2024 saw the most growth followed closely by December 2023. Which jobs, specifically? At what pay? Destroying a $50k/year job to create two $25k/year jobs ain't progress.
  - MacsHeadroom 3y ago
    Labor force participation rate has been rising since COVID. The long term trend is down but not so bad. A decade ago the rate among adult men was 72% while last month it was 70.2% and continuing to rise. https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab... Wage growth beat inflation by almost double most months last year, rising around 5-6% YoY each month vs ~3-4% inflation. https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...
    - yellowapple 3y ago
      Well then I guess we'll see if the trend actually reverses or if it corrects back to how it's been since the 70's. Barring some significant systemic reforms I ain't exactly holding my breath.
- Draiken 3y ago
  Unfortunately unemployment numbers don't mean shit if you still can't even pay your rent with your salary. This focus on unemployment is absurd. It has nothing to do with the wealth gap. More people working, but always with less wealth, while companies keep getting richer. We could as a society literally end unemployment at any time by redistributing some of the wealth. We don't because it's more profitable to have people worrying if they will be able to eat every month.
kuratkull 3y ago
You are looking at a too short of a time frame. Expecting a system to be getting strictly better every second of every day is utopian. The real world has ups and downs, restructuring to accommodate change, shutting down legacy industries, making room for new ideas, etc
- yellowapple 3y ago
  > You are looking at a too short of a time frame. Wage growth has lagged behind inflation and cost of living since the 70's. There have been multiple job market crashes in my lifetime; I entered the workforce in the middle of the 2008 recession. There have been multiple layoff waves since COVID alone, during each of which companies would lay off significant fractions of their workforce despite making record profits for no discernible reason other than "well everyone else is doing it so we'll do it, too". How much longer of a time frame do you expect me to examine? > Expecting a system to be getting strictly better every second of every day is utopian. Employers have been increasingly shafting their employees for decades. I expect a system to not spend multiple decades getting worse. > shutting down legacy industries My last two jobs were as a cloud infrastructure engineer. If even cloud computing is a "legacy industry" then the vast majority of the users on this website are utterly screwed.