Muh Economy: Layoffs tracker

[phxspurfan]

TripAdvisor layoffs / Outplacement firm cites 2019 saw 351% YoY increase in layoffs across tech industry

https://www.wsws.org/en/articles/202.../wayf-f18.html

Prior to the Wayfair layoffs, Bloomberg reported in January that Tripadvisor, based in Needham, Massachusetts, just outside of Boston, would eliminate 200 jobs, representing about 5 percent of the total workforce.

In a third quarter earnings call November 7, Tripadvisor Chief Financial Officer Ernst Teunissan said the company is looking to cut $60 million to $80 million from its annual spend.

An analysis of job data by the outplacement and coaching firm Challenger, Gray and Christmas reported that technology companies announced 64,166 job cuts in 2019. That number is an astonishing 351 percent increase from 2018 when there were 14,230 job cuts in the industry.

[phxspurfan]

If you're a macro buff, here is a historic US nonfarm payroll chart. it basically shows the steadiest of economies for the past 10 years. Historically long. No real corrections compared to historical patterns. Like the calm before the storm, but no one knows when the storm is coming, or where it will originate...

https://tradingeconomics.com/united-...-farm-payrolls

[Winehole23]

Tangent: housing costs are increasingly unaffordable in this best of all possible countries.

NLIHC's report calculates a "housing wage" that estimates how much a full-time worker must make in order to afford a fair market rental without spending more than 30% of his or her income. For 2019, the housing wage is $22.96 for a two-bedroom rental, and $18.65 for a one-bedroom.

Click to enlarge

The means someone earning the federal minimum wage would have to work more than three full-time jobs — 127 hours per week — to afford a two-bedroom rental, and 103 hours for a one-bedroom.

https://reports.nlihc.org/oor

[phxspurfan]

Good twitter thread on workers left behind by the US economy:

Wealth divide in action tbh. Any stats that provide medians or averages in today's working society skew low (which is the truth). With the median pay job in the USA, someone would be break even or a little under water taking care of a family of four, even in a median income area (i.e. not CA, NY etc). In CA/NY, it is a necessity that there be two earners, or that one of those earners be in the upper class. Or have a paid off house bought in 1980.

[DMC]

Historically low unemployment rating and the left is trying to spin a narrative about layoffs.

[DMC]

Next recession will probably not be as bad as 2009.

Gonna be a slow, rolling stop, and even more people will be without health insurance, unless something like Medicare for all passes.

then comes the fear mongering. Unless we get a liberal in office, we're ed.

[ElNono]

then comes the fear mongering. Unless we get a liberal in office, we're ed.

Once we get the inevitable liberal in office, it'll be 'hyperinflation is coming!', 'the deficit is huge to keep spending like that!', etc

[boutons_deux]

Wealth divide in action tbh.

Wealth extraction by the oligarchy, and war on employees who are excluded from growth of GDP / from Wealth of the Nation

Idiots who say capitalism and free markets magically seek and arrive at equilibrium are repeatedly, convincingly proven to be idiots with their inhumane bull economics which are "defined" by the BigFinance's old boys club called The Federal Reserve.

The oligarchy raises prices, extracts wealth "because it can".

In the absence of true compe ion, we get effective price collusion between a few BigCorp players who price their products to be effectively the same as others, not because the cost of product changes.

America is ed and un able and Bernie/Liz/progressive WH and Congress will at very best peck out tiny changes while the massive show above gets inexorably worse for the non-oligarchy.

[DMC]

Once we get the inevitable liberal in office, it'll be 'hyperinflation is coming!', 'the deficit is huge to keep spending like that!', etc

WWIII and the corona virus be followed by a post-apocalyptic world. I got dibs on prisons.

[RandomGuy]

then comes the fear mongering. Unless we get a liberal in office, we're ed.

Not really. I moderately competant Republican would be better than the thinly staffed boobs running things now.

Unless we change presidents at all we're ed.

We have already seen this administration up responses to crisis, often making them worse. I shudder to think what financial crisis 2.0 would look like with the corrupt idiots running the show now making decisions.

[RandomGuy]

Once we get the inevitable liberal in office, it'll be 'hyperinflation is coming!', 'the deficit is huge to keep spending like that!', etc

Eyup. The deficit will suddenly, magically, matter again.