Economics

467 readers

23 users here now

founded 2 years ago

Why widespread tech layoffs keep happening despite a strong U.S. economy (www.cnbc.com)

submitted 10 months ago by MicroWave to c/economics

11 comments fedilink hide all child comments

The tech sector is having a big 2024. Nvidia just crushed earnings expectations. The artificial intelligence boom remains in full swing. The tech-heavy Nasdaq index is up more than 8 percent year to date.

The U.S. economy is also doing surprisingly well, adding 353,000 jobs in January, well ahead of economists’ forecasts. Hotter-than-expected inflation data may also keep the Fed from cutting rates as soon as the market expects, a sign that the economy remains strong enough to support tighter monetary policy for longer.

It’s a different story for tech workers, though. 

you are viewing a single comment's thread
view the rest of the comments

[–] BigMikeInAustin 8 points 10 months ago

Instead of raising up the underpaid, you prefer to lash out at the workers who are slightly ahead. And you completely give a free pass to the 1% who make your yearly pay in hours, if not minutes.

You have so much hatred in your heart that you'd rather see 99% in poverty like you instead of everyone succeeding, including you.