"Zillenials want everything handed to them for free." 1. It's impossible to find work. 2. Wages for work are stupid low. 3. Employers will fire you for no reason. 4. Prices for stuff are stupid high. 5. If you want respect from people, you should learn to respect them first.
Do NOT start a family before 2032 as we are now in the GreatEST Depression which will last at least 5-10 years. Please do not be evil and selfish bringing a child into this.
I think it is critical to note that US companies are STILL HIRING, just not Americans. They are offshoring jobs by default. My wife's job was recently moved to Egypt. We know of others that were moved to Poland, but most of all India.
Yup. We’re being replaced on a mass scale. The reason there are no jobs is not only because companies are data collecting and getting tax write offs, they’re also hiring ghost crews of illegal immigrants!
Actually the us tech company had been intentionally hiring mostly from Asia since 2015. They just hiring someone from India, give them h1b, and move them here. Or they open a giant center in India and hire a few thousand engineers directly.
Every GenZer I know thinks the job market is t errible. None of us can find jobs. We need to send out hundreds and hundreds of applications just to get one automated reply
All this stems from companies refusing to reduce their inflated margins after they took advantage during high inflation. And now the chickens come home to roost
No, it’s not. As this channel illustrates, it’s multiple issues, occurring at once. But you are sorely uninformed if you are buying the narrative that this economy sucks because of corporate greed
@@jessicaklein4389lol…. Oh yeah Krogers admitting in court to price gouging and 50,000 rental properties being investigated for price collusion has nothing to do with it huh? So, how’s that boot taste?
Inflation is caused by companies raising their prices faster and higher then they need to to maintain profit margins, with the sole outcome and goal being profiteering. And that is what companies have done. Pay raises and raw goods have minimally increased
I am trrying to get a job in tech, it is crazy that every "entry level" position requires 5YEARS OF EXPERIENCE!!! since when is 5 years experience, entry level?! its disgusting!!!
I suppose that “Entry level” refers to where the position sits on their pay scale, not the expectation that this opportunity would be the candidate’s first job in their field. I’ve seen similar postings while searching in different sectors… was very frustrating.
@@BAngel-kr2ty first off if you need experience it's not an entry level job. An entry level job means you can either be trained up at the job itself or that it's for people who are fresh out of school for something. With entry level jobs experience should be a bonus, not a requirement. Setting 5 years experience on an entry level job means you want to pay as little as possible for someone who you don't have to train. It means you don't value the experience, all you value is not spending money. Even if that money is one day of teaching how you do stuff at your store.
The water lines are moving for everyone. I have 7 years experience. The job posts that I'm qualified for now require 15 years of experience and the pay is a lot less.
@@lumpenstumper6151 Oh you mean the redefining of the word the biden admin did once they got in office so they could claim they never had a "recession" under his watch?
@@TychoKingdomand this is why people are so overly positive when they talk about it. Well this and the fact they don’t want to admit to themselves that these high profits aren’t gonna last. Same thing happened in 2008 and everyone acted like they didn’t know what happened. They did. They were just in denial. Same as now.
I think they are trying to hide the truth and string people along until after the election. After that, they will start changing the messaging to reflect the true situation, knowing its too late to affect the results.
@@Daniel-gh6uk with nobody wanting to do labor, and white collar jobs disappearing, theres going to be a lot of competition for "influencers". Our economy is screwed RN
I believe this. Senior level software engineer at a top tech company. I’ve put in 150+ applications and only landed one interview. It was never this difficult, even with less experience. Most apps now end up with zero response.
Litterally 90% of those applications exist soley so they can outsource to overpopulated third world countries while saying theres no "qualified work here". Atleast thats how it is in Canada. A good 80% of the jobs in the federal job bank ended up being ghost jobs that companies put out so they can hire an Indian.
There are positions at my job that have completely vanished starting in 2018 so people will never be re hired for them. The responsibilities of those positions were permanently delegated to other team members. It sucks. I'm one of the only people that REMEMBERS that we once had more people and the workloads were manageable.
I mean most of those jobs litterally got sent to india/china. Everything they fear mongered and said would happen to us under automation, has instead happened under mass outsourcing. Human life in india/china is litterally cheaper than a chatgpt subscription. The only reason we got out of feudalism was because the bourgoisie was forced to compete over a lower number of peasants (cus of war), thus giving peasants more power. And now with india/china multiplying like insects and now consisting of 50% of the human population, were approaching feudalism FAST. Every tickbox that feudalism had, were now approaching. But notice how those jobs exist perfectly fine when it comes to government work. Healthcare, Defence, and construction? Their thriving. People at my Uni get jobs the moment they walk out. Exclusively because their not allowed to hire foreigners. We need a severe overpopulation tax. Companies that throw bodies at the problem instead of being more efficient, shouldn't be rewarded.
We all love downsizing and forcing less employees to do more work for zero wage increases. All so the CEO and shareholders can pinch out an extra $800,000 and get daily Yacht repairs instead of weekly. It's always fun looking at CEO vs. Employee wages through the decades. Did you know in 1960 CEO's only earned 10x more than their employees? Now it's like 380x more.
its going to be hilarious when all these managers realize that the AI is going to replace them too and then they are going to be scrubbing their arm pits with stolen soap at the river with the rest of us in a few years.
I've been saying this for years, that the gamification of profit maximization would lead to not only the concentration of wealth, but the inability for the proletariat to participate in the economy the way they had before. It took massive disruption events such as the BLACK PLAGUE to reset the need and cost of labor, I hope we don't reach that point in the future.
Il help you be more specific than just saying "gamification". Its outsourcing dude. When the black plague happened, the proletariat got more political power because the bourgoisie were forced to compete over workers. Human life in india/china is quite litterally cheaper than a chatgpt subscription. Every single thing they told us would happen under automation, from the concentration of wealth, to the severe lack of jobs, has instead happened under outsourcing. I think its incredibly telling how industries that are forced to hire DOMESTICALLY, such as healthcare, academia, Defence, and the trades, have a health job market.
I’ve been trying hard to find a job…. I don’t have money for school so I only have retail and fast food experience but no one is hiring….. I feel so tired and hopeless
You can thank the temp foreign worker program for the 17% unemployment rate for Canadians aged 15-25. This was nothing but a corporate cash grab scam. Lets lobby to bring in tons of subsidized workers and only hire them so we can give the rest of the subsidy savings to our share holders. I am pro immigration, I am NOT pro corporate scams. These temp workers are also being exploited.
Student loans exist dude. Idk why people gate themselves out of college over perceived costs. You could literally go to an instate university and get a marketable education for ~$40,000 depending on where you live. You’re worried about that cost but not realizing the cost you incur every day by not doing something productive. Bachelors degrees earn on average $10k more per year than someone without.
You could try the trades dude. People poo poo them but the old guys are retiring and there aren't enough people to replace. Welders, electricians, plumbers etc are still going to be needed. AI can do a lot but it can't weld or fix electrical. Can inquire to the local tradesmen what schools/apprenticeships etc. I wish you the best of luck. 🙏
Got laid off. I can’t sell my Tesla. I can’t find a new job. Groceries are fucking expensive. We are in a depression. We’ve been in a recession for atleast 3 years
I've heard people say that EVs are better than hybrids because of less complexity and parts, but does that actually mean anything? Do EVs cost less because they're "less complex"? No, they cost more. Do EV's have lower long-term costs because they're "less-complex"? No, the massive battery requires heavy duty tires that are costlier (financially and environmentally) to replace. The battery is so expensive/difficult to replace that you typically have to replace the whole vehicle long before the 200,000 miles achieved by properly maintained ICE vehicles. You may say electricity is cheaper than gasoline, but that's largely because the government hasn't implemented a highway-use tax like they do for other fuels. Keep in mind maintenance, repairs, and value degradation combined often are the majority of the cost to operate an EV. In my opinion (pure battery powered) EVs only make sense (for the foreseeable future) if they have a range of under 100 miles on a full charge. Want to go further without burning fossil fuels? The most sustainable and scalable options are trains powered by overhead power lines, aircraft powered by microwave beams from orbital solar farms, and cargo ships that combine wind power with synthetic fuel or bio-fuel. Hydrogen produced by electrolysis could be combined with carbon monoxide from organic waste incinerators (running with limited oxygen) to create methanol. Organic waste may include agricultural byproducts and brush gathered from forests as part of efforts to reduce wildfire intensity.
@@JWQweqOPDH The core EV tech is rather trivial to implement. It's all the other stuff that make cars expensive. You only need to see the feature bloat in ICE cars to realize that they are just as unserviceable as current EVs
Different perspective: Most companies don't pay attention to the macros. Businesses manage employment as a ratio of headcount to revenue and use the competition as a baseline. $700k in revenue per warm body, for example. Companies only change that ratio when they see a competitive leader move, then follow like sheep. Most mid-large companies manage numbers to play in front of analysts. If there is an industry-wide revenue decline AND someone decides to blink, then really bad things can happen.
@@NotShowingOffAmericans "aren't willing" to work for HALF of what they were getting 5 years ago! The ill eagles (avoiding "sensorship") have their pregnant gf at home collecting "public assistance", they'll work for starvation wages because OUR TAX DOLLARS make up the rest!
@@SigFigNewton foreign nationals cant possibly build enough housing fast enough to make up for their own invasion, especially when there's no end in sight to millions invading our country every year. it just spells permanent housing crisis, lower wages for everyone attempting to make ends meet, and increases in violent crime, homelessness, vagrancy, societal decay, and destroying social trust.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
Hiring is at all-time lows due to economic uncertainty, rising inflation, and fears of a looming recession. Companies are cutting back on growth plans, tightening budgets, and preparing for the financial storm, leaving fewer opportunities for job seekers in an already strained labor market.
also outsourcing. I just got a lowball offer and now the position is posted in India!!! If you look at Target careers, they are sending loads of jobs to India too!
So with 'back to school shopping' and all those millions of new illegal residents we have managed to squeeze only .1% (1/10 of one percent) rise in spending?!? This is terrible!
@@tgyusmack3312 if it bothers you so much you could just engage with the conversation honestly. You don't have to project your flaws onto everybody else and this one is even an easy fix.
Was watching Doom bird on a Podcast and he said he was not expecting a recession because oil demand is not down it just shifted from gas & diesel to LPG & CNG.
You still see some people in the highstreet. But not carrying shopping bags. And once fall starts, the tourists disappear, and you see what is really left...
I've always worked in high-turnover jobs, so this is obvious to me. Layoffs are usually what happens right before the doors close for good. Hiring freezes happen on a monthly and quarterly basis to maintain proper staffing
Dont forget job seekers need to impress the A.I nonsense including video interviews that asses a multitude of "data points". Then the IQ test, then the apptitude test, then a written test, then a chat with an A.I bot then a chat with a human, then maybe a real life interview lol. 😂
India, Philippines, and Poland. That's where all the jobs are going. Period. Been searching for over six months. Eventually, they'll eat crow when no one but the subsidized "citizens" can afford to pay for anything at all.
This is total crap. company I work for keeps adding people and everywhere I look or more signs advertising hiring. The issue nobody wants to pay anybody enough to live today, combined with the reality that everything is trying to charge more to make up the short-term investments they lost. Business leaders are idiots. Full stop. Just slash your executive salaries and use that to hire new workers The system will balance out because it will work like it's supposed to. Don't self-fulfill your own boomer prophecy out of laziness.
I have been rejected in the last 6 months from 200-300 jobs. Only had 3 interviews, 1 of which was for a pyramid scheme (they advertised for a normal sales position). With the way the media has been gaslighting the market for the past year, this video makes me feel seen. The only problem is I am still without a job.
This is the first recession in history, where companies also have a pool of 4 BILLION equally well trained indians/chinese, that multiply like insects, and whos life is LITTERALLY ARE CHEAPER THAN A CHATGPT SUBSCRIPTION. We need an overpopulation tax. India/China isnt more efficient, they just throw more bodies at the problem. Every single thing that they said would happen to us with automation, has happened TENFOLD with outsourcing.
Because we're in a recession that is primarily hitting the consumer services sector of the economy and the Government is pretending it's not a problem. Even were I worke boss said if they're not a welder throw the application away. 😂
Honestly, this has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my investment portfolio worth of $800k from crisis
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Man, it's almost as if posting 200 job positions when you only have the funding for 100, 20 slots that are open, and paying those 20 as if they were 10 is a bad idea!
i live in 64132 in KCMO, literally applied to every fast food chain, factory, and temp agency- im a decorated veteran with no criminal history and still have a SECRET clearance. At least 40ish apps this year.. no one will hire me.
Don’t expect a soft landing. We know inflation still far from its 2% destination - the FOMC didn’t raise rates now, we can never fortell their moves these days
I agree It’s always good to have a balanced fin-plan. I work with a professional planner multi market and fixed-income strategist in NY. the fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
in a situation right now where I started as a temp and my contract has been extended twice, due to the company having a hiring freeze I might not have a job by the end of the year because they cant get me on permanently. makes coming to work hard not knowing whats gonna happen by the end of the year and finding a new job is not easy either.
The money doesn't help you accomplish your goals (owning a house, starting a family etc) and corporate jobs don't provide real stability so no one is going to take it seriously.
This is another factor hurting the economy. Too many people in important roles in corporate America who aren't innovating or coming up with ideas to help customers or offer new products. Part of the issue IME is people who are genx/early millennial who's careers got stuck because boomers didn't retire, now we're all in our 40s, and so used to looking to someone else/older to make the important decisions....
@@istvanprahait is not just retiring 😅 even if they retire they will require you to pay for their overpriced Healthcare and social security, so let them to work till the grave
Thanks for this post! It would be great to hear you take on non-compete agreements and how they impact jobs. This could be an interesting topic given the jobs environment mentioned in this video as well as the recent events on the non-compete topic.
As recession mount on Wall Street and inflation remains well above the Fed's 2% target, some economics sounded off on just how bad this downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
The volatility of the market is the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+
Jessica Lee Horst is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
The bias across the media is insane. I can't listen to MSNBC for even a minute without hearing negative opinion based rhetoric. This is not going to end well, but I digress ...
With all the AI tooling coming on stream, it is clear that companies figure they can cut 20-40% of knowledge workers and maintain the same productivity…
I’ve been applying to jobs non stop since April 2023. I finally got a job at a local lil Caesar’s on March 2024 because I walk in and they hire all the time. A whole year of searching. I’m still looking for options.
This certainly started last year or sooner. I thought I was going mad and that there was something wrong with me because I could not land interviews or offers. As well, when I was pulled into a hiring process, the way that I was treated was abhorrent. As well, I have been contacted by the same place as my last contract (a major Canadian bank), and invited back to the same team , working for a lower rate. My LinkedIn inbox continues to be crickets. It really is that bad right now.
Recession is technical when the GDP has in 2 quarters in follow negativ grow. About the indicators stop hiring has the same effect as bigger layoffs because layoffs and retirements happens all the time as a result you have anyway less people employed which in result buys less and the neighbors are scared too and buy also less => GDP sinks. In export driven countries its a bit more complicated but this is the gist of it.
I sort of mentally left the whole idea of finding a good job, ever, and have only been able go find an unpaid internship after a year of unemployment, so I am glad I am not alone anymore.
Been unemployed since February when I got laid off because of a Nexstar acquisition, and have only had responses from devil corp marketing places, and one locally-owned entertainment place that had no set schedule and shit pay.
I have some friends in C level positions, one of which is a CTO. Every time someone gets a new laptop he has to approve certain setups in the company. He hasn't done an onboarding packet in nearly 18 months.
Come on Jeff, stop leading people up the garden path. You are a smart guy but the bad news headlines are repetitive and they don’t help to explain why markets are behaving the way they are. Forget about fundamentals / yield curves / employment etc. It’s all about the punch bowl. The Fed is about to put it back out and now it all comes down to how much they fill it up (rate cuts, QE and guidance etc). Markets have literally become a 🎪..
My company had 3 rounds of layoffs this year. Roughly 2400 people out of 8000 people…. I was one of them but got lucky bc someone decided to retire and moved to that position.
The annoying part is that we’ve been in a recession for like a year, but the stock market is at ATH. Gives people a really false impression, given that the bottom 50% of the population only own about 1-2% of the stock market
Nobody is going to save you. Only God can. But you must start praying and repenting and believing to get His help. Sadly, only at the precipice of disaster will people cry out to God. That's why He allows it. But I assure you, from many years of experience with numerous seemingly impossible disastrous circumstances, He is in fact what He promises "A very present help in the time of trouble" - but only on His conditions, not ours.
No such thing as “good reasons” for a rise in unemployment, except for boomers relinquishing their high paying jobs to the next generation who needs them.
@@Sarah-gz8ut been waiting for this phantom unemployment to show up for over 12 months now. People have been talking and talking about it, but there’s no actual materialization bc it’s just speculation
Imo we’ve never fully recovered from 2008. In 2007 i could walk into a retail store and get a job. This hasn’t been a thing since. In 2008 when i fully entered the work world vs summer jobs, i couldn’t find ANYTHING. I had a college degree and lots of skills the only work I found were unpaid internships and i had student loans to pay off. My parents couldn’t front that burden forever and forced me to take a retail job. After many months of looking for a min wage job i eventually got one at walgreens. Now my requirements from employment are an actual livable wage which isn’t much higher than min wage right now in my area, but i can’t even get that. i’ve been forced to freelance and make ends meet any way i can. It is stressful and I’d rather have a day job.
My theory is that the advent of Internet hiring ruined it. It’s easier to send more low effort applications to many job postings than ever, so everyone does it. This overwhelms firms and encourages them to get more selective and arbitrary. They make such stringent requirements that now only either top 5% candidates or people with inroads get considered. Pareto rule, now the top applicants get many choices but the rest fight for scraps. Locality/ a persons presence in a neighborhood mean nothing now Plus immigrants and AI
Go further, I say since 9/11 we haven't. That was when I saw America change economically. Patriot act and terrorists, greed, etc. So so much. Done may go back to Reagan policies lifting the ladder from us all while they rise. All debatable sadly
@@DrSleepVC only during the pandemic and it really depended on the area. Mine is a tourist area, meaning the stores and restaurants are super saturated to support a larger population than what lives here. But when no one was visiting there were not enough locals to support these places being open. You couldn’t even get a 7.25/hr job here
“Retail sales are up because people are spending money” is such a profound take. In December yall gonna be saying “retail sales are up only because of spending on holidays”. Then in March yall gonna be like “retail sales are up only because people are out traveling for spring”
Make your own clothes and provide your own goods. Though then that would require you to source raw materials, and have actual skills, neither of which do you have, or are accessible to you, and so therefore, you are reliant on people with skills who are smarter than you! 🤪🤪😂😂
Add more and more employers wanting people back in the office. Amazon just announced it wants everyone back in the office. That means people who have been working in sweats, PJs, or t-shirts and shorts are now buying Dockers and dress shirts or suits and ties.
@@DrSleepVCyup, no matter how good or bad an economy is doing consumer spending will always be seasonal. Back-to school season, holiday season, tax refund season, etc etc
I've dropped over 1,000 applications in like eight months. I am a senior software engineer. I've developed stuff for the medical community with radiation treatment therapy software. I've developed stuff for social media networks, I've been doing work for nearly 30 years in the field. I have never once had to put out more than 30 or so resumes to at least get a few interview. I'm a thousand applications in and Finally, I get an interview on Monday! The job I'm applying for is about $40,000 a year less than what I normally make. But I'll take it.
Very common that "software engineers" (you're a coder, not an engineer) can't find work, it's because youre not as skilled as you think you are. I have no issues finding self employed work, you have to be able to adapt to whatever the client asks in very little time and if you can't do this then perhaps you're not as skilled as you think you are. I sort of doubt you even know sysinternals or any low-level stuff. There's way too many useless coders these days who don't contribute to open source, don't reverse engineer, don't know sysinternals, refuse to touch low-level languages, don't know assembler, etc.
My wife was just Laid off from her company- they have not been “back filling” positions at a rate of 2-1- and now they are starting to let people go….. this vid was timely- because yes…..when 30 people resign from a medium size company and only 10 of the positions are backfilled- thats essentially a layoff - but it doesnt show up in the unemployment surveys…. As such!
@@scienceofthemagi9750 I'm not sure that I agree. A lot more people today have been getting welfare payments than were getting in say, 2008. Also, there've been more govt employees, and their wages are up. All these folks are going to keep spending money. So I say that US might see a recession but certainly not a "depression".
@@JasbirSingh-zj1fgthe us doesnt have the money to spend its way out of it though. Debt to gdp is too high for huge interventions needed during bad times. Its all spent during the "good" times.
This is what happens when you use immature, malfunctioning AI to handle all application submissions and force applicants online where they have no choice but to use these broken systems.
People have been quiet all summer saving up for summer-end back to school spending in August. People here don't have extra money and people move when apartment rent is raised. Landlords will back off if you go in to tell them you are leaving. Overtime is expensive and has been slashed. Wal-Mart has TV's from last Christmas sitting in the aisles and fans and A/C's and garden hoses still unsold in mid-September.
It’s wild that these are this bad and they don’t even count people who’ve replaced one good job with two not-so-good ones, which is a LOT of people if my local area is any indicator.
They should also do a stat around the percentage of seniors having to work full time that didn’t have to work or work only part time before. I see so many OLD people stocking at Walmart now
Dude, you’re lost in the data. We’ve been in a recession for years, the bean counters just move the goal posts, redefine what a recession is, or play with the numbers enough so that the situation is not a “recession.” Pull your head up from the numbers and go look outside at the world.
This happened because of a mentality of only hiring the "high value employee". For decades since the millennials were old enough to work. This trend has been consistent across the collective thinking of most employers. Leading to having to go to college to get a job. A small town suffers greatly when the local plant closes. Because, that plant is willing to hire in mass. Gaining a job after going to college which is worth your degree is the minority. If the majority understands this and still fights for those high paying jobs against other applicants. It is more likely you will end up working at a Best Buy than a nice tech business if your field is in electronics. Either the law needs to force businesses to hire. Or, the anarchists need to start making an example of these businesses. Honestly, I have no faith in our legal system after forty years on this earth.
Brilliant presentation 👏 The reality for families is the only data we need. No extra money to spend, higher prices, no need for another expensive phone with AI so it can report more about what I do to advertisers.... we all had enough
Unemployment figures release every month do not take into account the underunemployed who have exhausted their 6 months unemployment benefits without securing a new job. The economy has been shedding jobs in the tech sector since 2022. This sector has seen an increasing number of layoffs for the past two years. Perhaps, those who haven't been directly or indirectly impacted by the layoffs believe the economy is not shedding jobs.
Yea but AI is gonna fix everything to these companies 😂. Software Developer here. Been unemployed for two years. If it wasn’t for jobs through apps i’d be homeless. So many job openings and nobody calls you back!
Dont worry almost every job you applied to was a ghost job, which was only posted so they can justify outsourcing it to an indian (whos cheaper than a chatgpt subscription). Human life in india/china is cheaper than a chatgpt subscription. We need a severe overpopulation tax. The rich shouldn't GIVE AWAY our resources because some other country REFUSED to control their population explosion. On an additional note, the Chinese one child policy should be enforced in India. Deng XiaoPing should be considered a hero for the steps he took to improve china.
"Zillenials want everything handed to them for free."
1. It's impossible to find work.
2. Wages for work are stupid low.
3. Employers will fire you for no reason.
4. Prices for stuff are stupid high.
5. If you want respect from people, you should learn to respect them first.
Finally, I feel validated.
I knew I wasn't crazy for thinking things are worse economically than they've ever been.
Ed Yardeni is a good source for overly optimistic narratives to balance out this channel and attempt to have a more accurate view
Like… Ed brings data too
Do NOT start a family before 2032 as we are now in the GreatEST Depression which will last at least 5-10 years. Please do not be evil and selfish bringing a child into this.
@@rejectionistmanifesto8836 I'm not even married, it ain't happenin
@@rejectionistmanifesto8836 🌚did he just call people evil for doing what they’re genetically programmed to do?
🌝yes. He did.
I think it is critical to note that US companies are STILL HIRING, just not Americans. They are offshoring jobs by default. My wife's job was recently moved to Egypt. We know of others that were moved to Poland, but most of all India.
This right here. It's so insidious.
Yup. We’re being replaced on a mass scale. The reason there are no jobs is not only because companies are data collecting and getting tax write offs, they’re also hiring ghost crews of illegal immigrants!
Actually the us tech company had been intentionally hiring mostly from Asia since 2015. They just hiring someone from India, give them h1b, and move them here. Or they open a giant center in India and hire a few thousand engineers directly.
US companies barely hire anyone who needs a visa for the this year. H1b is too costly
My job was off shored to Philippines and I haven’t been able to find one in 8 months since. It’s brutal. I’m hopeless.
Is no one smart enough to realize the retail sales were decent because of back to school shopping? People are dumb!!
Also funny how consumer spending and credit card debt/delinquency make upward trajectory in a commensurate manner.
Good point John
ALL the "data" is FAKE, the Dems trying to keep the charade up until the "election"....
pretty sure everyone knows about seasonalities
Far to many NPC 😂😂😂
Every GenZer I know thinks the job market is t errible. None of us can find jobs. We need to send out hundreds and hundreds of applications just to get one automated reply
facts
@@FN-Corrupt Yep, yet the media tries to g aslight us into thinking that the economy is "booming!!!!!"
Yup
I’m literally applying to entry level jobs and can’t get one. All of the immigrants took our jobs bro.
@@EM-wo6wf Exactly, but it's somehow controversial to say this
All this stems from companies refusing to reduce their inflated margins after they took advantage during high inflation. And now the chickens come home to roost
No, it’s not. As this channel illustrates, it’s multiple issues, occurring at once. But you are sorely uninformed if you are buying the narrative that this economy sucks because of corporate greed
Wrong again it is the ignorant customer
@@jessicaklein4389lol…. Oh yeah Krogers admitting in court to price gouging and 50,000 rental properties being investigated for price collusion has nothing to do with it huh? So, how’s that boot taste?
Inflation is caused by companies raising their prices faster and higher then they need to to maintain profit margins, with the sole outcome and goal being profiteering. And that is what companies have done. Pay raises and raw goods have minimally increased
So reduce margins to negative and become a charity. Problem solved, economists.
I am trrying to get a job in tech, it is crazy that every "entry level" position requires 5YEARS OF EXPERIENCE!!! since when is 5 years experience, entry level?! its disgusting!!!
Yea I guess they shouldn't make sure you may be able to do the job before hand, right? That would be ridiculous of course! 🤪🤪😂😂
I suppose that “Entry level” refers to where the position sits on their pay scale, not the expectation that this opportunity would be the candidate’s first job in their field. I’ve seen similar postings while searching in different sectors… was very frustrating.
@@BAngel-kr2ty first off if you need experience it's not an entry level job.
An entry level job means you can either be trained up at the job itself or that it's for people who are fresh out of school for something.
With entry level jobs experience should be a bonus, not a requirement.
Setting 5 years experience on an entry level job means you want to pay as little as possible for someone who you don't have to train. It means you don't value the experience, all you value is not spending money. Even if that money is one day of teaching how you do stuff at your store.
Not only experience but experience in their proprietary software or machines or their unique environment.
The water lines are moving for everyone. I have 7 years experience. The job posts that I'm qualified for now require 15 years of experience and the pay is a lot less.
How, in any stretch of your imagination do you not realize we are already in a recession. Depression is the next step. How big.... is the question.
The largest in human history. Stay safe not everyone is making it through this great filter of greed
You don’t have a good definition of recession then.
@@lumpenstumper6151 Oh you mean the redefining of the word the biden admin did once they got in office so they could claim they never had a "recession" under his watch?
Well the have to wait for the data. It will be too late by then but nobody is just gonna start saying stuff. Because words affect the stock market.
@@TychoKingdomand this is why people are so overly positive when they talk about it. Well this and the fact they don’t want to admit to themselves that these high profits aren’t gonna last.
Same thing happened in 2008 and everyone acted like they didn’t know what happened. They did. They were just in denial. Same as now.
A lack of hiring combined with poor wages.
Also an influx of new grads/unskilled workers who think theyre skilled when they arent in reality.
@ChineseRatfaceCHANG yeah and jobs that were previously considered unskilled now require a certificate or license.
@@ChineseRatfaceCHANG Who's skilled then? You expecting kids to have 10 years of experience? lol
Layoffs have been going nuts the last 18 months for the high paying careers. It’s rough out there
Yup. If your unemployed and white collar getting a new job will be brutal
I think they are trying to hide the truth and string people along until after the election. After that, they will start changing the messaging to reflect the true situation, knowing its too late to affect the results.
@@bobbobertson7568 blue collar jobs will get more competitive as a result
@@Daniel-gh6uk with nobody wanting to do labor, and white collar jobs disappearing, theres going to be a lot of competition for "influencers". Our economy is screwed RN
It's brutal out there. Tech is also getting crushed. Wait until Amazon cuts thousands!
When america falls apart nobody will admit it until FAAAR too late
that's generally how it goes with empire... the people at the top feel the heat last
What is "fall apart"?
I believe this. Senior level software engineer at a top tech company. I’ve put in 150+ applications and only landed one interview. It was never this difficult, even with less experience. Most apps now end up with zero response.
Litterally 90% of those applications exist soley so they can outsource to overpopulated third world countries while saying theres no "qualified work here".
Atleast thats how it is in Canada. A good 80% of the jobs in the federal job bank ended up being ghost jobs that companies put out so they can hire an Indian.
I dont believe that
i 100% believe you.
There are positions at my job that have completely vanished starting in 2018 so people will never be re hired for them. The responsibilities of those positions were permanently delegated to other team members. It sucks. I'm one of the only people that REMEMBERS that we once had more people and the workloads were manageable.
I mean most of those jobs litterally got sent to india/china.
Everything they fear mongered and said would happen to us under automation, has instead happened under mass outsourcing.
Human life in india/china is litterally cheaper than a chatgpt subscription.
The only reason we got out of feudalism was because the bourgoisie was forced to compete over a lower number of peasants (cus of war), thus giving peasants more power.
And now with india/china multiplying like insects and now consisting of 50% of the human population, were approaching feudalism FAST.
Every tickbox that feudalism had, were now approaching.
But notice how those jobs exist perfectly fine when it comes to government work.
Healthcare, Defence, and construction? Their thriving. People at my Uni get jobs the moment they walk out. Exclusively because their not allowed to hire foreigners.
We need a severe overpopulation tax. Companies that throw bodies at the problem instead of being more efficient, shouldn't be rewarded.
We all love downsizing and forcing less employees to do more work for zero wage increases. All so the CEO and shareholders can pinch out an extra $800,000 and get daily Yacht repairs instead of weekly.
It's always fun looking at CEO vs. Employee wages through the decades. Did you know in 1960 CEO's only earned 10x more than their employees? Now it's like 380x more.
Like you know the old tune "boss makes a dollar, I make a dime"? Yeah that used to be real. Now it's more like pennies to hundreds.
Just remember that their profits have never been higher as well, so it's purely greed driving it
its going to be hilarious when all these managers realize that the AI is going to replace them too and then they are going to be scrubbing their arm pits with stolen soap at the river with the rest of us in a few years.
I am in a hrm class and the teacher is promoting using AI, but seems oblivious of its potential to steal her job.
Lmao this is the best comment ive seen in a long time. Thanks.
Want to join a cult?
I still don't understand how they don't call this a recesion. It's even worse than that and everyone keeps saying that the economy is strong.
Whta's worse than recession?
@@ingbor4768depression
Not a recession for the elites
If they call it a recession folks will be super pissed and get up and actually do something. And they don't want that.
@@ingbor4768 A depression is worse.
And existing data still suggests job postings growth despite most of those jobs being fake
I've been saying this for years, that the gamification of profit maximization would lead to not only the concentration of wealth, but the inability for the proletariat to participate in the economy the way they had before. It took massive disruption events such as the BLACK PLAGUE to reset the need and cost of labor, I hope we don't reach that point in the future.
Il help you be more specific than just saying "gamification". Its outsourcing dude.
When the black plague happened, the proletariat got more political power because the bourgoisie were forced to compete over workers.
Human life in india/china is quite litterally cheaper than a chatgpt subscription.
Every single thing they told us would happen under automation, from the concentration of wealth, to the severe lack of jobs, has instead happened under outsourcing.
I think its incredibly telling how industries that are forced to hire DOMESTICALLY, such as healthcare, academia, Defence, and the trades, have a health job market.
I’ve been trying hard to find a job…. I don’t have money for school so I only have retail and fast food experience but no one is hiring….. I feel so tired and hopeless
You can thank the temp foreign worker program for the 17% unemployment rate for Canadians aged 15-25. This was nothing but a corporate cash grab scam. Lets lobby to bring in tons of subsidized workers and only hire them so we can give the rest of the subsidy savings to our share holders. I am pro immigration, I am NOT pro corporate scams. These temp workers are also being exploited.
Blue collar brother look for a helper job
Get a student loan and go to college for a good degree
Student loans exist dude. Idk why people gate themselves out of college over perceived costs. You could literally go to an instate university and get a marketable education for ~$40,000 depending on where you live.
You’re worried about that cost but not realizing the cost you incur every day by not doing something productive.
Bachelors degrees earn on average $10k more per year than someone without.
You could try the trades dude. People poo poo them but the old guys are retiring and there aren't enough people to replace. Welders, electricians, plumbers etc are still going to be needed. AI can do a lot but it can't weld or fix electrical. Can inquire to the local tradesmen what schools/apprenticeships etc. I wish you the best of luck. 🙏
Got laid off. I can’t sell my Tesla. I can’t find a new job. Groceries are fucking expensive. We are in a depression. We’ve been in a recession for atleast 3 years
You bought a Tesla says everything. 💩💩for 🧠🧠's.
I've heard people say that EVs are better than hybrids because of less complexity and parts, but does that actually mean anything? Do EVs cost less because they're "less complex"? No, they cost more. Do EV's have lower long-term costs because they're "less-complex"? No, the massive battery requires heavy duty tires that are costlier (financially and environmentally) to replace. The battery is so expensive/difficult to replace that you typically have to replace the whole vehicle long before the 200,000 miles achieved by properly maintained ICE vehicles. You may say electricity is cheaper than gasoline, but that's largely because the government hasn't implemented a highway-use tax like they do for other fuels. Keep in mind maintenance, repairs, and value degradation combined often are the majority of the cost to operate an EV. In my opinion (pure battery powered) EVs only make sense (for the foreseeable future) if they have a range of under 100 miles on a full charge. Want to go further without burning fossil fuels? The most sustainable and scalable options are trains powered by overhead power lines, aircraft powered by microwave beams from orbital solar farms, and cargo ships that combine wind power with synthetic fuel or bio-fuel. Hydrogen produced by electrolysis could be combined with carbon monoxide from organic waste incinerators (running with limited oxygen) to create methanol. Organic waste may include agricultural byproducts and brush gathered from forests as part of efforts to reduce wildfire intensity.
@@JWQweqOPDH
The core EV tech is rather trivial to implement. It's all the other stuff that make cars expensive. You only need to see the feature bloat in ICE cars to realize that they are just as unserviceable as current EVs
@@BAngel-kr2tystill voting kamala
@@BAngel-kr2ty some of them are not 100k, some are like 40k.
Different perspective: Most companies don't pay attention to the macros. Businesses manage employment as a ratio of headcount to revenue and use the competition as a baseline. $700k in revenue per warm body, for example. Companies only change that ratio when they see a competitive leader move, then follow like sheep. Most mid-large companies manage numbers to play in front of analysts. If there is an industry-wide revenue decline AND someone decides to blink, then really bad things can happen.
good take!
I've been working construction for the last few years. Majority of the workers lately have been illegal immigrants 50/50 or worse.
Americans aren’t willing to do them. And nobody wants to fine companies that hire them
@@NotShowingOffAmericans "aren't willing" to work for HALF of what they were getting 5 years ago! The ill eagles (avoiding "sensorship") have their pregnant gf at home collecting "public assistance", they'll work for starvation wages because OUR TAX DOLLARS make up the rest!
Yup, immigrants are the people solving he housing shortage, I’ve noticed that too
@@SigFigNewton Trump knows this. But just like Putin and Bin Salman, he’d rather rule over a trash heap than be healthy accountable in a just society
@@SigFigNewton foreign nationals cant possibly build enough housing fast enough to make up for their own invasion, especially when there's no end in sight to millions invading our country every year. it just spells permanent housing crisis, lower wages for everyone attempting to make ends meet, and increases in violent crime, homelessness, vagrancy, societal decay, and destroying social trust.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?
Zachery M Demers is the licensed FA I work with,
ETFs, set and forget, look for big ones and low TER. MSCI, SPDR, Vanguard are a good start, set and forget.
Stupid bots
Hiring is at all-time lows due to economic uncertainty, rising inflation, and fears of a looming recession. Companies are cutting back on growth plans, tightening budgets, and preparing for the financial storm, leaving fewer opportunities for job seekers in an already strained labor market.
And it's preparing for that storm that creates the downward spiral.
Don't forget haiti
also outsourcing. I just got a lowball offer and now the position is posted in India!!! If you look at Target careers, they are sending loads of jobs to India too!
So with 'back to school shopping' and all those millions of new illegal residents we have managed to squeeze only .1% (1/10 of one percent) rise in spending?!? This is terrible!
Almost as if illegal immigration does not come with the benefits of legal immigration.
@@warlock64c lol scapegoat the problem more why don't chA
@@tgyusmack3312 who's scapegoating here? OP and I were commenting on immigration, nobody claimed it was the only problem.
@@warlock64c bad faith argument ¯\_(ツ)_/¯
@@tgyusmack3312 if it bothers you so much you could just engage with the conversation honestly. You don't have to project your flaws onto everybody else and this one is even an easy fix.
Was watching Doom bird on a Podcast and he said he was not expecting a recession because oil demand is not down it just shifted from gas & diesel to LPG & CNG.
You still see some people in the highstreet. But not carrying shopping bags. And once fall starts, the tourists disappear, and you see what is really left...
I've always worked in high-turnover jobs, so this is obvious to me. Layoffs are usually what happens right before the doors close for good. Hiring freezes happen on a monthly and quarterly basis to maintain proper staffing
Job cuts, job creation numbers adjusted downward by 1 million, hiring fallen 40%, no wonder the fed cut rates by .5%, but it's too little too late
Congrats on 100k subs some channels can't do that in 10yrs and you have done it in two years time👏👏👏
He mite culd fix dat snaggletoof now
Dont forget job seekers need to impress the A.I nonsense including video interviews that asses a multitude of "data points". Then the IQ test, then the apptitude test, then a written test, then a chat with an A.I bot then a chat with a human, then maybe a real life interview lol. 😂
Businesses are required to post openings. They are not required to fill them and the business sets the requirements for being hired. Not the law.
India, Philippines, and Poland. That's where all the jobs are going. Period. Been searching for over six months. Eventually, they'll eat crow when no one but the subsidized "citizens" can afford to pay for anything at all.
Manufacturing Production MoM was up .9% vs -.0.7.
How much was defense manufacturing, vs actual consumer products?!
IF it leads to lower spending? No one is spending!
😂- More Billionaires Tax Cuts to help the Working Poor in America 😮
"Involuntary separation from an employment opportunity" is the most corporate coded horse shite I've ever heard lmao
But the economy is doing great, says our government
This is total crap. company I work for keeps adding people and everywhere I look or more signs advertising hiring. The issue nobody wants to pay anybody enough to live today, combined with the reality that everything is trying to charge more to make up the short-term investments they lost. Business leaders are idiots. Full stop.
Just slash your executive salaries and use that to hire new workers The system will balance out because it will work like it's supposed to. Don't self-fulfill your own boomer prophecy out of laziness.
But da economy "BOOMIN!!!!' doe!!!!!!!!! Why would da guvment lie?!?!
I have been rejected in the last 6 months from 200-300 jobs. Only had 3 interviews, 1 of which was for a pyramid scheme (they advertised for a normal sales position).
With the way the media has been gaslighting the market for the past year, this video makes me feel seen.
The only problem is I am still without a job.
So, when would you call the start of this recession? A few months ago? Imagine you're looking back on this from 5 years from now. When did it start?
Here we go. Keep your hands and feet in the ride at all times…
I think anybody who's been looking for a job has known this for quite a while lol. The "experts" aren't too bright when it comes to the economy.
Their opinion is bought and sold man.
This is the first recession in history, where companies also have a pool of 4 BILLION equally well trained indians/chinese, that multiply like insects, and whos life is LITTERALLY ARE CHEAPER THAN A CHATGPT SUBSCRIPTION.
We need an overpopulation tax. India/China isnt more efficient, they just throw more bodies at the problem.
Every single thing that they said would happen to us with automation, has happened TENFOLD with outsourcing.
Ok but I'm better than them. Also chatgpt cannot program for shit
This started 3 years ago I haven't been able to get a job for a year and we all know why 👴
A small gully.. nothing to see here
Because we're in a recession that is primarily hitting the consumer services sector of the economy and the Government is pretending it's not a problem.
Even were I worke boss said if they're not a welder throw the application away. 😂
Harris is losing one of those 'magic keys' she needs to get re-elected.
I've only ever gotten jobs by walking in, never using an online hiring service.... Sucks cause I'm not in my career
Honestly, this has left me uneasy. Especially this potential depression, no more a recession. I'm now thinking of ways to protect my investment portfolio worth of $800k from crisis
Knowledgeable Investors know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
pls how can I reach this fiduciary, I need someone to help me manage my portfolio
Yeah, she is Victoria Louisa Saylor , look her up. Anyone is free to contact her.
*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Man, it's almost as if posting 200 job positions when you only have the funding for 100, 20 slots that are open, and paying those 20 as if they were 10 is a bad idea!
but sir, how sure are you of what your are affirming? the way you speak seems that you are 100% sure.
Yes it’s the data
Like all good religious/sales people, he IS 100% sure...but it doesn't mean what he's saying is relevant
He is running what is called a "Confidence Trick".
When is the main stream not glowingly postive about the economy? When a Repub is president and its election time.
i live in 64132 in KCMO, literally applied to every fast food chain, factory, and temp agency- im a decorated veteran with no criminal history and still have a SECRET clearance. At least 40ish apps this year.. no one will hire me.
If the unemployment rate is able to remain steady while the Fed hikes and inflation falls back to target, a soft landing might be on the table
Don’t expect a soft landing. We know inflation still far from its 2% destination - the FOMC didn’t raise rates now, we can never fortell their moves these days
Fixed income Tbills and bonds may work for you while you try to figure out the next entry point for stocks
I agree It’s always good to have a balanced fin-plan. I work with a professional planner multi market and fixed-income strategist in NY. the fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Who are you working with please?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
in a situation right now where I started as a temp and my contract has been extended twice, due to the company having a hiring freeze I might not have a job by the end of the year because they cant get me on permanently. makes coming to work hard not knowing whats gonna happen by the end of the year and finding a new job is not easy either.
Lots of workers playing on their phones and quietly quitting while overemployed
The money doesn't help you accomplish your goals (owning a house, starting a family etc) and corporate jobs don't provide real stability so no one is going to take it seriously.
This is another factor hurting the economy. Too many people in important roles in corporate America who aren't innovating or coming up with ideas to help customers or offer new products. Part of the issue IME is people who are genx/early millennial who's careers got stuck because boomers didn't retire, now we're all in our 40s, and so used to looking to someone else/older to make the important decisions....
@@istvanprahait is not just retiring 😅 even if they retire they will require you to pay for their overpriced Healthcare and social security, so let them to work till the grave
stop doing the work for the rich your blaming victims and its stupid
Fake pay deserves fake work. We've been priced into poverty and slavery of course innovation dies when people are worried about making ends meet.
Thanks for this post! It would be great to hear you take on non-compete agreements and how they impact jobs. This could be an interesting topic given the jobs environment mentioned in this video as well as the recent events on the non-compete topic.
“We are hiring” 😂🎉🎉🎉🎉🎉
As recession mount on Wall Street and inflation remains well above the Fed's 2% target, some economics sounded off on just how bad this downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
The volatility of the market is the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+
This is definitely considerable! think you could suggest any professional/advisors I can connect with? I'm in dire need of proper portfolio allocation
Jessica Lee Horst is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this amazing tip. I just looked up Carol, wrote her explaining my financial market goals and scheduled a call
Lack of hiring? It’s madness when you apply
"when is the mainstream media ever negative on the economy..." The day Trump takes office that will INSTANTLY change.
You can bet on that.
The bias across the media is insane. I can't listen to MSNBC for even a minute without hearing negative opinion based rhetoric. This is not going to end well, but I digress ...
The mainstream media is keeping people in the dark!
liberals say this is the best ECONOMY EVER. If Trump gets in they'll claim its Great Depression status.
Great content. I never knew this. Thanks so much for sharing.
Another compensated comment.
Snaggletoof broke joke
With all the AI tooling coming on stream, it is clear that companies figure they can cut 20-40% of knowledge workers and maintain the same productivity…
How this help anyone?
It doesn't.
I’ve been applying to jobs non stop since April 2023. I finally got a job at a local lil Caesar’s on March 2024 because I walk in and they hire all the time. A whole year of searching. I’m still looking for options.
This certainly started last year or sooner. I thought I was going mad and that there was something wrong with me because I could not land interviews or offers. As well, when I was pulled into a hiring process, the way that I was treated was abhorrent. As well, I have been contacted by the same place as my last contract (a major Canadian bank), and invited back to the same team , working for a lower rate. My LinkedIn inbox continues to be crickets. It really is that bad right now.
Recession is technical when the GDP has in 2 quarters in follow negativ grow. About the indicators stop hiring has the same effect as bigger layoffs because layoffs and retirements happens all the time as a result you have anyway less people employed which in result buys less and the neighbors are scared too and buy also less => GDP sinks. In export driven countries its a bit more complicated but this is the gist of it.
I sort of mentally left the whole idea of finding a good job, ever, and have only been able go find an unpaid internship after a year of unemployment, so I am glad I am not alone anymore.
Been unemployed since February when I got laid off because of a Nexstar acquisition, and have only had responses from devil corp marketing places, and one locally-owned entertainment place that had no set schedule and shit pay.
I have some friends in C level positions, one of which is a CTO. Every time someone gets a new laptop he has to approve certain setups in the company. He hasn't done an onboarding packet in nearly 18 months.
Come on Jeff, stop leading people up the garden path. You are a smart guy but the bad news headlines are repetitive and they don’t help to explain why markets are behaving the way they are. Forget about fundamentals / yield curves / employment etc. It’s all about the punch bowl. The Fed is about to put it back out and now it all comes down to how much they fill it up (rate cuts, QE and guidance etc). Markets have literally become a 🎪..
My company had 3 rounds of layoffs this year. Roughly 2400 people out of 8000 people…. I was one of them but got lucky bc someone decided to retire and moved to that position.
But how could this be? I thought we're in a vibecession
Dang me too
Kamala on top of all of this my god she’s still saying the economy is fine lol.
If you have a job better, hold on to dear life!!😅
The annoying part is that we’ve been in a recession for like a year, but the stock market is at ATH. Gives people a really false impression, given that the bottom 50% of the population only own about 1-2% of the stock market
Just two more weeks!
Gonna start posting my RESUME in the comments section...😂
Maybe ill get lucky and land a job!!?😂😂😂🎉
⚒️
Distraction is the interest of politics and this economy
Well we have both we lost 75k jobs this last week
Master Cauttion Warning ......Hiring Stall Stall Stall Stall
Pull Up, Pull Up.
Over 50 people applied for pizza delivery position in Ohio.........I'm losing hope and I feel winter coming😢
We need help......
Nobody is going to save you. Only God can. But you must start praying and repenting and believing to get His help. Sadly, only at the precipice of disaster will people cry out to God. That's why He allows it. But I assure you, from many years of experience with numerous seemingly impossible disastrous circumstances, He is in fact what He promises "A very present help in the time of trouble" - but only on His conditions, not ours.
No such thing as “good reasons” for a rise in unemployment, except for boomers relinquishing their high paying jobs to the next generation who needs them.
Great points. 👍
Looks like the people are finally getting a little freedom
We've already been in a recession for some time, but the "experts" haven't figured it out yet.
They know. They don't wanna say it out loud and make the investors panic.
Unemployment needs to be higher to be called a recession. You can point to all the numbers you want, unemployment is all that matters
@@lumpenstumper6151You should probably look into how unemployment numbers are calculated😂 Tons of people out of work aren’t even being counted.
@@Sarah-gz8ut been waiting for this phantom unemployment to show up for over 12 months now. People have been talking and talking about it, but there’s no actual materialization bc it’s just speculation
@@Sarah-gz8utsource?
Imo we’ve never fully recovered from 2008. In 2007 i could walk into a retail store and get a job. This hasn’t been a thing since. In 2008 when i fully entered the work world vs summer jobs, i couldn’t find ANYTHING. I had a college degree and lots of skills the only work I found were unpaid internships and i had student loans to pay off. My parents couldn’t front that burden forever and forced me to take a retail job. After many months of looking for a min wage job i eventually got one at walgreens. Now my requirements from employment are an actual livable wage which isn’t much higher than min wage right now in my area, but i can’t even get that. i’ve been forced to freelance and make ends meet any way i can. It is stressful and I’d rather have a day job.
It was literally like this three years ago. You could walk into any retail store and get hired practically on the spot.
@@DrSleepVC hmm maybe then too. But yeah when needing 20/hr it’s not gonna be retail 😂.
My theory is that the advent of Internet hiring ruined it. It’s easier to send more low effort applications to many job postings than ever, so everyone does it. This overwhelms firms and encourages them to get more selective and arbitrary. They make such stringent requirements that now only either top 5% candidates or people with inroads get considered. Pareto rule, now the top applicants get many choices but the rest fight for scraps. Locality/ a persons presence in a neighborhood mean nothing now
Plus immigrants and AI
Go further, I say since 9/11 we haven't. That was when I saw America change economically. Patriot act and terrorists, greed, etc. So so much. Done may go back to Reagan policies lifting the ladder from us all while they rise. All debatable sadly
@@DrSleepVC only during the pandemic and it really depended on the area. Mine is a tourist area, meaning the stores and restaurants are super saturated to support a larger population than what lives here. But when no one was visiting there were not enough locals to support these places being open.
You couldn’t even get a 7.25/hr job here
Retail sales are up because people had to buy clothing and other goods for their families going back to school. Going to college and university.
Exactly.
“Retail sales are up because people are spending money” is such a profound take.
In December yall gonna be saying “retail sales are up only because of spending on holidays”. Then in March yall gonna be like “retail sales are up only because people are out traveling for spring”
Make your own clothes and provide your own goods. Though then that would require you to source raw materials, and have actual skills, neither of which do you have, or are accessible to you, and so therefore, you are reliant on people with skills who are smarter than you! 🤪🤪😂😂
Add more and more employers wanting people back in the office. Amazon just announced it wants everyone back in the office.
That means people who have been working in sweats, PJs, or t-shirts and shorts are now buying Dockers and dress shirts or suits and ties.
@@DrSleepVCyup, no matter how good or bad an economy is doing consumer spending will always be seasonal. Back-to school season, holiday season, tax refund season, etc etc
I've dropped over 1,000 applications in like eight months. I am a senior software engineer. I've developed stuff for the medical community with radiation treatment therapy software. I've developed stuff for social media networks, I've been doing work for nearly 30 years in the field. I have never once had to put out more than 30 or so resumes to at least get a few interview. I'm a thousand applications in and Finally, I get an interview on Monday! The job I'm applying for is about $40,000 a year less than what I normally make. But I'll take it.
Good Luck with the new job. Persistence pays dividends. Cheers
Nice! I’m going to school for ME.
We all feel so bad for you 🙄🙄
Best of luck! Remember all this if (I hope when) things come back around.
Very common that "software engineers" (you're a coder, not an engineer) can't find work, it's because youre not as skilled as you think you are. I have no issues finding self employed work, you have to be able to adapt to whatever the client asks in very little time and if you can't do this then perhaps you're not as skilled as you think you are. I sort of doubt you even know sysinternals or any low-level stuff. There's way too many useless coders these days who don't contribute to open source, don't reverse engineer, don't know sysinternals, refuse to touch low-level languages, don't know assembler, etc.
My wife was just Laid off from her company- they have not been “back filling” positions at a rate of 2-1- and now they are starting to let people go….. this vid was timely- because yes…..when 30 people resign from a medium size company and only 10 of the positions are backfilled- thats essentially a layoff - but it doesnt show up in the unemployment surveys…. As such!
I’m sorry NPM!!!😢.
I predict. This is going to be a western depression. I used to think it was going to be a recession. So gd luck
@@scienceofthemagi9750 I'm not sure that I agree. A lot more people today have been getting welfare payments than were getting in say, 2008. Also, there've been more govt employees, and their wages are up.
All these folks are going to keep spending money. So I say that US might see a recession but certainly not a "depression".
@@JasbirSingh-zj1fgthe us doesnt have the money to spend its way out of it though. Debt to gdp is too high for huge interventions needed during bad times. Its all spent during the "good" times.
@@thijsgadellaThe US always has money. Our "debt" is the most superficial thing anyone could have.
This is what happens when you use immature, malfunctioning AI to handle all application submissions and force applicants online where they have no choice but to use these broken systems.
Typical Z tarrd. This problem with agonizingly bad before AI was doing anything.
Well that's what happens when businesses aren't required to report their layoffs and firings and quits etc.
People have been quiet all summer saving up for summer-end back to school spending in August. People here don't have extra money and people move when apartment rent is raised. Landlords will back off if you go in to tell them you are leaving. Overtime is expensive and has been slashed. Wal-Mart has TV's from last Christmas sitting in the aisles and fans and A/C's and garden hoses still unsold in mid-September.
It’s wild that these are this bad and they don’t even count people who’ve replaced one good job with two not-so-good ones, which is a LOT of people if my local area is any indicator.
They should also do a stat around the percentage of seniors having to work full time that didn’t have to work or work only part time before.
I see so many OLD people stocking at Walmart now
Dude, you’re lost in the data. We’ve been in a recession for years, the bean counters just move the goal posts, redefine what a recession is, or play with the numbers enough so that the situation is not a “recession.” Pull your head up from the numbers and go look outside at the world.
I look outside and see a dead world
This happened because of a mentality of only hiring the "high value employee". For decades since the millennials were old enough to work. This trend has been consistent across the collective thinking of most employers. Leading to having to go to college to get a job. A small town suffers greatly when the local plant closes. Because, that plant is willing to hire in mass. Gaining a job after going to college which is worth your degree is the minority. If the majority understands this and still fights for those high paying jobs against other applicants. It is more likely you will end up working at a Best Buy than a nice tech business if your field is in electronics. Either the law needs to force businesses to hire. Or, the anarchists need to start making an example of these businesses. Honestly, I have no faith in our legal system after forty years on this earth.
Exactly.
While you’re right, it’s good to have people doing scientific analysis of economics. There’s always value in numbers if they are presented accurately.
Brilliant presentation 👏 The reality for families is the only data we need. No extra money to spend, higher prices, no need for another expensive phone with AI so it can report more about what I do to advertisers.... we all had enough
Unemployment figures release every month do not take into account the underunemployed who have exhausted their 6 months unemployment benefits without securing a new job.
The economy has been shedding jobs in the tech sector since 2022. This sector has seen an increasing number of layoffs for the past two years. Perhaps, those who haven't been directly or indirectly impacted by the layoffs believe the economy is not shedding jobs.
Yea but AI is gonna fix everything to these companies 😂. Software Developer here. Been unemployed for two years. If it wasn’t for jobs through apps i’d be homeless. So many job openings and nobody calls you back!
Dont worry almost every job you applied to was a ghost job, which was only posted so they can justify outsourcing it to an indian (whos cheaper than a chatgpt subscription).
Human life in india/china is cheaper than a chatgpt subscription.
We need a severe overpopulation tax.
The rich shouldn't GIVE AWAY our resources because some other country REFUSED to control their population explosion.
On an additional note, the Chinese one child policy should be enforced in India.
Deng XiaoPing should be considered a hero for the steps he took to improve china.
@@honkhonk8009well that went from 0-100 real quick
I think you forgot to stop looping the first 2 min of the video