When I see data like this I wanna know what the salaries/wages for those jobs were.
Because we Also lost like >20,000 $100k+ jobs
this post was submitted on 02 Feb 2024
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"We lost 100k tech jobs, but they all got two janitor jobs each to cover their bills. So we've doubled the job market. Aren't we great?"
Those tech jobs shouldn't have existed to begin with. They were being paid with borrowed money when interest rates were stupid low.
I don't give a shit about the middle management that lost their jobs but the real talent could have been and probably would have been working for themselves or with smaller companies making less but they wouldn't have lost their job like they did. This isn't about Biden or really even the rates being hiked, this is about the grow or die mentality that fuels our economy and stock market.
You're not wrong but those are people who are suffering right now.
What does that have to do with what was being discussed?
I get your sarcasm but the tech jobs that were lost aren't going to be mopping floors. They will find something if they haven't already and plenty probably got a severance package plus unemployment, etc.
If it wasn't clear. I was pointing out what this is really about and it's not about Biden versus whatever monstrosity the maggats parade around. These job losses in particular are thanks to the economic engine that everyone seems to think is the only way to have a good economy. They weren't lost because Biden did anything and they would have been created under whoever was the sitting president when interest rates hit those lows.
don't give a shit about the middle management that
Those are people who are suffering too.
What the fuck are you talking about? The middle managers aren't suffering, most probably kept their jobs or got moved around elsewhere.
I feel nothing for people losing jobs that aren't actually needed in a company.
I really hope you are being sarcastic, if not it means you are one of those wastes of skin and office space that only hamper production by those they are managing. The state of management in most companies is one of the reasons I'm self employed. I don't have to have some fuckwad that failed upwards telling me to do things the most inefficient way or worse making my job hell because they have to hover and micromanage.
You aren't getting the point so peace out.
feel nothing for people losing jobs that aren't actually needed in a company.
Because the health of the company's finances should elicit more empathy than humans losing their means of survival?
We lost those tech jobs because they shouldn't have been jobs in the first place. Companies went on a spending bender with borrowed money at ridiculously low rates and when they couldn't keep making the payments and keep the people they hired, they had to make a choice.
Note that I am not defending the corps that pulled this shit. Our economy is based on bullshit and the grow or die mentality of most of the investment firms that are willing to fund new ideas or new takes on old ones.
I understand your point, I just think profit margins and executive compensation packages tell a different story.
Which is why to me it's weird to see a headline about how many jobs are gained, without knowing how much money those people are pulling down. Idk. I don't know much about economics.
The increase in employment was robust and broad based," said Joe Brusuelas, RSM chief economist. "Gains were clustered in the higher-paying categories."