5 ms·

Underrated comment. My null hypothesis is that interest rates are over, fat is being trimmed, of course the people most affected are going to be those at the b

Underrated comment. My null hypothesis is that interest rates are over, fat is being trimmed, of course the people most affected are going to be those at the bottom of the food chain: inexperienced new grads. Sucks to be a new grad (as it did in 2008-9), but in macro terms I'd say wait and check back in two years.

johnnyanmac 2y ago
How do they survive for 2 years without a job?
- underdeserver 2y ago
  Really sucks to be them. Try hard and compromise on pay. I also remember seeing some study that says that 2008 grads' pay never caught up, and that e.g. 2010 grads' pay is higher despite their having less experience. Sucks, but you play the cards you're dealt.
  - johnnyanmac 2y ago
    Damm shame. Really hope they remember this inevitable resentment when it comes time to vote on policy. It seems the '08 grads did not.
    - underdeserver 2y ago
      Vote on what policy? What vote do you think could have made a difference?
      - johnnyanmac 2y ago
        Direct votes will vary from state to state. But as a recent example in CA voted against rent control... Guess who funded against that prop? I was more talking indirect, but simply voting in whatever rep that sounded better without keeping the policies they focus on.
        schnitzelstoat 2y ago
        I live in a city with rent control and it's a disaster. It just caused a massive drop in supply and landlords moving to alternative stuff like temporary contracts to get around it. The latter could be legislated against but would probably just cause a further drop in supply. Ultimately you can't cheat the market, if you want lower prices you either increase supply or decrease demand.
ericmcer 2y ago
I am inclined to agree, but I was saying a similar thing in 2023 when the job market started to tank. Now we are 2 years later and it is similar, maybe a little better but definitely not a return to pre-2022 levels. It might end up being a 5+ year slow period by the time interest rates come back down and things start heating up.

johnnyanmac 2y ago

How do they survive for 2 years without a job?

underdeserver 2y ago
Really sucks to be them. Try hard and compromise on pay. I also remember seeing some study that says that 2008 grads' pay never caught up, and that e.g. 2010 grads' pay is higher despite their having less experience. Sucks, but you play the cards you're dealt.
- johnnyanmac 2y ago
  Damm shame. Really hope they remember this inevitable resentment when it comes time to vote on policy. It seems the '08 grads did not.
  - underdeserver 2y ago
    Vote on what policy? What vote do you think could have made a difference?
    - johnnyanmac 2y ago
      Direct votes will vary from state to state. But as a recent example in CA voted against rent control... Guess who funded against that prop? I was more talking indirect, but simply voting in whatever rep that sounded better without keeping the policies they focus on.
      - schnitzelstoat 2y ago
        I live in a city with rent control and it's a disaster. It just caused a massive drop in supply and landlords moving to alternative stuff like temporary contracts to get around it. The latter could be legislated against but would probably just cause a further drop in supply. Ultimately you can't cheat the market, if you want lower prices you either increase supply or decrease demand.

ericmcer 2y ago

I am inclined to agree, but I was saying a similar thing in 2023 when the job market started to tank. Now we are 2 years later and it is similar, maybe a little better but definitely not a return to pre-2022 levels. It might end up being a 5+ year slow period by the time interest rates come back down and things start heating up.