Im quite confused. there has been layoffs from a bunch of tech companies and also the auto industry. on the other hand, the unemployment rate from todays job report is at a 50-year low. how do you make of the discrepancy? is it just a perception problem and the numbers from these two industries account for a small portion of the overall economy? or people being laid off were able to find next job quickly?
Companies in general are hiring more than they are laying off. Layoffs by companies are not always purely to restrict money being spent. They can be to shift focus from one project to another. So they remove people from a project that's not going great and invest more into a project that may bring more potential.
Q4, when there are tons of temporary hires due to those sale events
We are just a small subset you know
A tiny subset maybe less than 1% of the population
Unemployment rate is a sham and doesn’t include people who have stopped looking for work because they’ve given up and couldn’t find any.
This is true. Which is why Unemployment looked OK post recession during Obama’s second term even though labor participation was near a low. Now we have a 50 year low unemployment rate AND a record number of people participating in the labor force under Trump. The US economy is probably stronger now than it has ever been.
Look at osce harmonized unemployment rate, it’s very low no matter how you measure it. Stop spewing nonsense
20 million jobs are destroyed on a yearly average in US. Over 22 million are created. Those who get laid off usually bounce back.
fin is laying off like crazy
The majority of people who have jobs arent in tech or auto industry.
https://www.bls.gov/emp/tables/employment-by-major-industry-sector.htm