The Number Of Layoffs In The U.S. Goes Up By 136 Percent In Just One Month:
What is the highest credit card debt ever recorded?
Total credit card debt also reached a $1.08 trillion record in the latest quarter, the Federal Reserve Bank of New York reported Tuesday.
Late Car Payments Hit Highest Peak Since 1990s
Add to that record homelessness, sky high groceries and rent, while illegals are being well cared for…
Is there a reason you’re posting numbers from Challenger, Gray & Christmas? From the day before the actual Bureau of Labor Statistics report that came out the next day? The one we pretty much all go by? Did this report hit your newsfeed tonight? And you thought this was new? The BEA report is posted below. Because I’m sure you want updated numbers:
https://www.bls.gov/news.release/empsit.nr0.htm
If you’re going to cite a report from an organization about job growths before the actual BEA report, stick to ADP.
This isn’t new news. We knew months ago that there would be a lot of layoffs in the tech sector last year and this year. It is making up for the over-hiring companies did at the end of Covid.
2023
,that for 11 out of 12 months their forecasts were wrong but in a favorable position to themselves? Is the inaccuracy at a level where they can’t be trusted or someone needs to be fired?
Yeah, sure, that’s it!
I really don’t ever look at the BEA. I do not trust pretty much any gobment agency, they are sooooo very politicized and politicians LIE to prop up the failing democrats… Plus the fact they are so often wrong anyway…
So…
Are you actually saying the layoffs did not happen? The defaults on Auto loans aren’t real? The credit card debt is not the highest ever in the US? Hmmm?
Or are you trying to say grocery, utility, and rent aren’t super high?
How about homelessness at record highs all the while illegals are well cared for?
It’s not just the tech sector…
In terms of job openings at least . . . that is certainly a correct statement.
Chart below shows two broad benchmarks and three non-tech industries.
All of them show rapid rise beginning around April 2020.
All of them show rapid declines beginning around end of 2021 beginning of 2022.
However, not every sector/industry is experiencing a downturn in job openings.
At least one is moving sideways.
(Like a little kid with his fingers in his ears, saying “La La La I can’t hear you,” & ignoring everything round him.
.
.
when will people learn that everything they see and hear is tainted by politics?
cracks me up. they think they have “facts”
I knew that was coming especially with the mortgage industry for example.
With the interest rates approaching 8 percent again because of Biden inflation underwriters are being laid off en mass across the country. Who wants to sell a house they bought at 3 percent interest and buy another at nearly 8 percent???
And that’s just the tip of the iceberg!
Those who claim the economy is doing great are either naive or just flat foolish.
but can’t we feel the utopia?
And/or lying.
Looking long term (5, 10 years) we are going to see one of the biggest shifts in labor since the industrial revolution. There is no doubt that AI and predictive/proactive automation is going to eliminate jobs on a massive scale.
Countless examples of jobs currently done by humans today that are ripe for “AI” taking over.
In a generation or two governments providing a basic universal income will not just be a reality but a necessity.
No president, no legislation is going to stop this so we better start figuring it out.
You mean a return to feudalism, which is all a world of basic income will mean.
Not sure what the alternative is. I am sure there is one but I cannot think of one.
The fact is that many of the jobs that humans do today will cease to exist with nothing to replace them. This will impact all industries and all sectors.
We cannot just stick our head in the sand and kick it down the line. Well we can but ignoring this problem will not make it go away.
I am not sure that everyone understands or accepts the impact that AI (in many different forms) is going to impact not just the USA but the world.
Why do I have the feeling that you would have said that
You’re normally reslly really opposed to it, right?
Thus, the title of the thread. 
The difference is those innovations reaulted in new industries such as auto makers, mechanics etc, new jobs on the same scale will not be created with this type of automation.
This will create a new form of pretty much lifetime unemployment because the jobs will not exist.
According to Wiki Chat GPT was launched on November 30, 2022, (which approx jives with my memory of it becoming a sensation on CNBC etc…)
If my hypothesis is correct then
The people who say “Now we will need more government to regulate it” were in favor of gov’t regulation to begin with.
The people who say “Now we will need a universal basic income,” were in favor of UBI to begin with, etc…
Certainly it has increased, not decreased, my views on the danger of bias in the media, dangers of the woke cancel culture, the dangers of excessive government etc…
There is no way government can regulate it. The genie is loose. Thats what I am saying.
