this post was submitted on 24 Feb 2024
46 points (94.2% liked)

Economics

467 readers
16 users here now

founded 2 years ago
 

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.


top 11 comments
sorted by: hot top controversial new old
[–] Dkarma 25 points 10 months ago (1 children)

Because tech has no organized labor

There are no tech unions.

[–] rockSlayer 13 points 10 months ago

Well there are unions in tech, but not enough and not many big ones.

[–] az04 5 points 10 months ago

Because tech can be easily turned into a remote job. Tech jobs are doing great in countries with low wages. I live in Portugal and all the software engineers I know work remotely for some non Portuguese tech company. It's good for them because they become some of the highest earners in the country straight out of uni and it's good for the companies that hire them for almost half what they would pay an American, German or Israeli.

[–] [email protected] 1 points 9 months ago* (last edited 9 months ago)

just a wild guess: because often jobs are tied to growth/expansion, and investing in developing infrastructure. companies doing well has nothing to do with the amount people working for them.