* Los Angeles Times, eBay, and UPS are three companies that have made recent layoff announcements.
* Despite cuts at big household names, the nation’s layoffs and discharges rate has been steadily low.
* This rate was 1.0% in December, the same rate for most months during 2023.
People assign a priori beliefs to general churn in the labor markets.
Because it is unadulterated BULLSHIT that the economy is “roaring”. It’s roaring only for the top 5%, the top 7 stocks, and for corporate war cartels. Like. Late stage failed oligarchy.
Layoff to prop stock prices and give dividends
That’s Biden propaganda you are hearing.
Reality is something different
Tell that to California. Businesses closing left and right, people getting laid off (I know some impacted by this right now, struggling to find work in a variety of fields/industries… all of them well-educated.)
At 4.9%, we still have worse unemployment than we had in 2019 — 2nd worst in the nation, actually.
People still leaving this state in droves.
And California is the biggest economy (GDP) in America.
I sure hope Newsom never gets anywhere close to the White House in any way, shape, or form.
There are hundreds of millions of workers in the US.
You are hearing of layoffs of a few thousand.
Do the math.
I got laid off. We’re hearing about them because people are getting laid off to supplement balance sheets.
The propaganda economy is roaring. I guess this is where all the 1% campaign donor money goes to. You’d think it would buy a better strategy than this lol.
Do people not really get that the economy doesn’t equally the average persons living experience?
Most of these metrics are based on the share value of companies.
Which can be increased when you reduce expenses like maintaining staff. I.e layoffs.
Another Biden bot post, I guess the propaganda is just getting started.
The stock market is roaring. The economy is not. Business are doing well by cutting costs and laying off employees. The stock market does not reflect the economic reality for poor and middle class people.
The economy isn’t roaring. The stock market isn’t the economy.
Interest rates were hiked faster than anytime in recent history. The prime rate being so high caused banks to stop loaning because they couldn’t be sure they could borrow cheap to cover their deposits. The small businesses that were floating on credit could no longer clear payroll that way. In the case of new projects, investors are looking at the interest the banks would charge them and deciding it would eat right into their potential to earn profits.
That’s why.
It is an election year, so they will spin it as a great economy, thinking we are all too stupid to realize that they are lying. Also, if they say the economy is great they won’t do anything to make it better.
Same reason the current admin is telling everyone the economy is great. They think you are blind and stupid.
Because negative news sells. Tech companies added millions of jobs during the pandemic. They added so many jobs they ended up laying off 10-15% of those new hires.
Google for example went from 119k employees in 2019 to 190k employees just 3 years later in 2022.
Guess what the headline was when they laid 12k people? It wasn’t that the net increase in jobs was still almost 60k it was all about the 12k that were laid off.
So when you look at the big picture there are more jobs and more economic growth. But that story about 12k layoffs sells more then the story about a net increase of 60k jobs.
There are 332 million people in the U.S.. at any given moment millions are doing fantastic while others are doing poorly.
If one chooses to shine the lights on those doing great there are millions of anecdotal examples that can provide content 24/7. Likewise there are tragic stories of homelessness, job loss, rising prices, etc.
It is all about the story different media want to tell.
Because everyone is spreading propoganda about a strong economy to keep the walking corpse in office
Not normal folks economy, the elite’s economy. We’re the cattle, not the point.
Greed
The stock market is not indicative of how real people live and how their finances are reflected in real time.
Because it’s not really roaring.
The stock market is not the economy.
Just because the economy as a whole is doing great doesn’t mean that every company is or that they didn’t over hire. Layoffs will be happening every day regardless of economy strength if you look hard enough.
Who is telling you the economy is roaring? That’s your answer.
Yea, I don’t believe they’re layoff out of necessity, it’s just to save money. They’re just using this time as an excuse to not look too bad as “everyone is doing it.”
We hear about them because it stokes fear and “news” publications love those scary headlines. It’s to get people to click on their articles because unwarranted fear sells ad spots. Simple as that. Layoffs happen alllll the time, no matter how good or bad an economy is.
28 comments
TL;DR:
* Los Angeles Times, eBay, and UPS are three companies that have made recent layoff announcements.
* Despite cuts at big household names, the nation’s layoffs and discharges rate has been steadily low.
* This rate was 1.0% in December, the same rate for most months during 2023.
People assign a priori beliefs to general churn in the labor markets.
Because it is unadulterated BULLSHIT that the economy is “roaring”. It’s roaring only for the top 5%, the top 7 stocks, and for corporate war cartels. Like. Late stage failed oligarchy.
Layoff to prop stock prices and give dividends
That’s Biden propaganda you are hearing.
Reality is something different
Tell that to California. Businesses closing left and right, people getting laid off (I know some impacted by this right now, struggling to find work in a variety of fields/industries… all of them well-educated.)
At 4.9%, we still have worse unemployment than we had in 2019 — 2nd worst in the nation, actually.
People still leaving this state in droves.
And California is the biggest economy (GDP) in America.
I sure hope Newsom never gets anywhere close to the White House in any way, shape, or form.
There are hundreds of millions of workers in the US.
You are hearing of layoffs of a few thousand.
Do the math.
I got laid off. We’re hearing about them because people are getting laid off to supplement balance sheets.
The propaganda economy is roaring. I guess this is where all the 1% campaign donor money goes to. You’d think it would buy a better strategy than this lol.
Do people not really get that the economy doesn’t equally the average persons living experience?
Most of these metrics are based on the share value of companies.
Which can be increased when you reduce expenses like maintaining staff. I.e layoffs.
Another Biden bot post, I guess the propaganda is just getting started.
The stock market is roaring. The economy is not. Business are doing well by cutting costs and laying off employees. The stock market does not reflect the economic reality for poor and middle class people.
The economy isn’t roaring. The stock market isn’t the economy.
Interest rates were hiked faster than anytime in recent history. The prime rate being so high caused banks to stop loaning because they couldn’t be sure they could borrow cheap to cover their deposits. The small businesses that were floating on credit could no longer clear payroll that way. In the case of new projects, investors are looking at the interest the banks would charge them and deciding it would eat right into their potential to earn profits.
That’s why.
It is an election year, so they will spin it as a great economy, thinking we are all too stupid to realize that they are lying. Also, if they say the economy is great they won’t do anything to make it better.
Same reason the current admin is telling everyone the economy is great. They think you are blind and stupid.
Because negative news sells. Tech companies added millions of jobs during the pandemic. They added so many jobs they ended up laying off 10-15% of those new hires.
Google for example went from 119k employees in 2019 to 190k employees just 3 years later in 2022.
Guess what the headline was when they laid 12k people? It wasn’t that the net increase in jobs was still almost 60k it was all about the 12k that were laid off.
So when you look at the big picture there are more jobs and more economic growth. But that story about 12k layoffs sells more then the story about a net increase of 60k jobs.
There are 332 million people in the U.S.. at any given moment millions are doing fantastic while others are doing poorly.
If one chooses to shine the lights on those doing great there are millions of anecdotal examples that can provide content 24/7. Likewise there are tragic stories of homelessness, job loss, rising prices, etc.
It is all about the story different media want to tell.
Because everyone is spreading propoganda about a strong economy to keep the walking corpse in office
Not normal folks economy, the elite’s economy. We’re the cattle, not the point.
Greed
The stock market is not indicative of how real people live and how their finances are reflected in real time.
Because it’s not really roaring.
The stock market is not the economy.
Just because the economy as a whole is doing great doesn’t mean that every company is or that they didn’t over hire. Layoffs will be happening every day regardless of economy strength if you look hard enough.
Who is telling you the economy is roaring? That’s your answer.
Yea, I don’t believe they’re layoff out of necessity, it’s just to save money. They’re just using this time as an excuse to not look too bad as “everyone is doing it.”
We hear about them because it stokes fear and “news” publications love those scary headlines. It’s to get people to click on their articles because unwarranted fear sells ad spots. Simple as that. Layoffs happen alllll the time, no matter how good or bad an economy is.
Corporations don’t care