🤔 It is quite interesting to hear about the thoughts of ordinary people online, particularly in reflecting on the state of the #labor#market. At the most recent update on #interest#rates from the #Federal#Reserve, there was a discussion of many aspects of the #US#economy, along with #immigration and many other topics. Overall, the characterization of the #layoff rate as being ‘low,’ however, is completely wrong.
I am very sure that I am not the only one with such a perspective, but it is a complete farce that ~911,000 jobs were subject to #revision. Aren’t we supposed to have accurate #jobs numbers? Why are #ghost#jobs as prevalent now, in comparison to #job#markets of previous years?
Unfortunately, even working very hard, and learning about a #STEM field, say #Biotech, #Quantum, #Math, or #Physics appears to mean very little. We need #change in the #job#market. #Interest#rates, obviously, should have been cut much sooner. The #labor#market, as the #mass#media has finally been acknowledging, is much weaker than expected. #Hiring#managers, and individuals in similar positions of authority should promote #transparency. Generally speaking, if someone on the level of #vice#president, or #director, leaves a company everybody in less #junior positions should be on high alert. Take it from me - I have been unemployed for 3 years this #December.
Pete Rigas
🤔 It is quite interesting to hear about the thoughts of ordinary people online, particularly in reflecting on the state of the #labor #market. At the most recent update on #interest #rates from the #Federal #Reserve, there was a discussion of many aspects of the #US #economy, along with #immigration and many other topics. Overall, the characterization of the #layoff rate as being ‘low,’ however, is completely wrong.
Even if such a rate was ‘low,’ it discredits all of the #financial #struggle, #hardship, and #disappointment that #job #seekers have had over the past few years. In #2022, when #mass #layoffs began to accumulate, as given by my experience in the #biotechnology #industry as one example, #job #seekers were gaslight into believing that the #economy was strong. Then, in #2023 and #2024, the #job #market progressively became worse; however, the truth about the #slowdown in the #job #market was obfuscated from #public view.
I am very sure that I am not the only one with such a perspective, but it is a complete farce that ~911,000 jobs were subject to #revision. Aren’t we supposed to have accurate #jobs numbers? Why are #ghost #jobs as prevalent now, in comparison to #job #markets of previous years?
Unfortunately, even working very hard, and learning about a #STEM field, say #Biotech, #Quantum, #Math, or #Physics appears to mean very little. We need #change in the #job #market. #Interest #rates, obviously, should have been cut much sooner. The #labor #market, as the #mass #media has finally been acknowledging, is much weaker than expected. #Hiring #managers, and individuals in similar positions of authority should promote #transparency. Generally speaking, if someone on the level of #vice #president, or #director, leaves a company everybody in less #junior positions should be on high alert. Take it from me - I have been unemployed for 3 years this #December.
#opentowork #biotech #quantum #recession #job #market #interest #rates #liquidity #job #hugging #we #need #jobs #lower #interest #rates
1 week ago | [YT] | 1