Layoffs surged 98% in 2023; It could get worse this year

https://www.foxbusiness.com/economy/layoffs-surged-98-in-2023-it-could-get-worse-this-year

HYPERLINK has full article

snip

The pace of job cuts by U.S. employers accelerated in 2023, with the number of layoffs surging 98% compared with the previous year.............

The top reason cited for job cuts last year was deteriorating market and economic conditions as the country grappled with still-high inflation, a sharp rise in interest rates and ongoing geopolitical tensions.

end snip

OK, so we know that the economy is not as good as the Democrat party continues to state. But, in full disclosure, this article should also have mentioned that taxpayer-funded jobs in govt and McDonalds continue to hire at a brisk rate.

It is not all bad news because if one cannot obtain a new position in govt, there is always McDonalds.

 

The reason we are seeing this largely constrained to the tech world is due to them massively over hiring when the economy was overheating.

Powell and the FED did a pretty good job at keeping us from falling into a complete recession but these companies will need to go back to baseline. The negative interest rates, easy money and quantitative easing of 2017 - 19 took away all of the items we typically have to fight these issues.

AI and cloud computing also seem to be starting to impact the need for engineers in these tech firms. Humanoid robots are also starting to enter the workforce which is only going to further displace humans.

I don’t think our economy is built to handle what is coming.

 

I mean.. 2023 saw a 2.7 million jobs surplus compared to 2022's 4.5 million jobs surplus... so yeah

2013: 2.3 million jobs surplus
2014: 3.0 million jobs surplus
2015: 2.7 million jobs surplus
2016: 2.2 million jobs surplus
2017: 2.2 million jobs surplus
2018: 2.7 million jobs surplus
2019: 2.1 million jobs surplus
2020: 9 million jobs deficit
2021: 6.4 million jobs surplus
2022: 4.5 million jobs surplus
2023: 2.7 million jobs surplus

 

exactly

between govt and fast-food, the article could have done a better job on reporting on how taxpayer-funded jobs had increased as had hiring at Burger King

 

Maybe we should start counting how many doom and gloom thread predictions and how many came true. !!!

Seems no matter what facts you have, including a very low unemployment, you're constant complaining is old.

 

Wow...The GOP takes the House in the '22 elections...
Then, we have a FULL YEAR of GOP House Control and this happens!
When the Dems were in control, there weren't as many layoffs.
NOW, with GOP controlling the House for a year we see a 98% surge in layoffs?
Thx Alot, Republicans!
MORE of The Economic DISASTER of GOP House Control!
GOP Votes Have Consequences...
Never Good For The Common Folk...

 

We know, we know, we heard the same spiel for Obama's eight years: Any good job reports are really bad, because most of the jobs are low income or part time. Then, when Trump got into office, all of a sudden, good job reports were great, because those were well paying jobs. Now, we are back to the nay sayers, who hope that the economy crashes, so they can get Trump re-elected.

Now, let's look at the data:


You'd be hard pressed to point out the dates when the WH changed party. Covid, on the other hand, is easy to spot.

 

Wait a minute, I thought everything was going just fantastic?

 

90’s…..Dot.com

Next 10 years……AI, according to many tech experts.

 

Democrats love layoffs.

That's more people dependent on the government.

 

Well all you're saying is that layoffs nearly doubled, but what did they double from?

I started a thread on the good jobs situation in Texas, and plenty of democrats wanted to discredit that. Don't be like them. Don't relish in bad economic news for the sake of political gain.

 

who relishes in bad news? It's simple facts; like it or not.

The upside here is that taxpayers are the top hiring segment with good, govt jobs. Behind that is food service. The good news is that one might get a job funded by taxpayers or launch into the lucrative world of fast food delivery.

 

In and Out burger in Oakland is closing. I doubt in other place in that state is safe either for the employees to go work at.

 

Are hirings outpacing layoffs?

 

I thought people did not have the money to spend according to people like you, so how come burger joints are taking on more and more staff

 

food service has lots of openings as they cannot get the younger folks to want to work. So, those losing 6-figure positions can find new careers in making coffee and milk shakes

 

Were layoffs under Trump a bad thing?

 

someone has to serve lunch to the taxpayer-funded workers

 

That's almost certainly not happening in CA thanks to Newsom and his policies.

 

But we have such a great economy according to the left! HOw could they be wrong about something?! Again?!

 

it's not about reality; it's about the message from the Democrat party. Pay no mind to rising credit card debt, delinquencies, layoffs etc

Burger King is hiring so life is grand

 

Bad day for you? Dow Jones at another record high? Winning?

In any case, it's not about reality, it's about the message from the Trump party to pay no attention to the GDP numbers, falling inflation, good job reports, record stock markets... Rather, the message is that the economy is the worst it ever was. For what? So the dear leader can get re-elected in November.

 

food service/fast food/coffee and milk shakes/serve lunch/Burger King...
Got it...

 

Yes that's correct.