How could unemployment rate be so low while it is so tough to find a job in high tech companies? For most linkedIn tech positions there are hundreds of applicants on LinkedIn only. What is the true unemployment % in silicon valley?
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Back then the executives were quite open about the fact they could get 4-5 engineers for the price of one here.
That's no longer true, India has had a hot labour market for IT talent in the last decade or two. I'm told that 10-15% pay rises are common there, but salaries are flat in the west. So, I suspect the difference in salaries has closed dramatically in the last 15-20 years.
...as the drain in homegrown technology will limit our ability to maintain a strategic advantage as a superpower.
Being a superpower with four percent of the world's population requires skills and resources, and we're on our way to being the flat earth capital of the world that believes we can maintain that power by borrowing and spending forever.
This is no longer about just a standard of living decline, but a strategic failure of leadership -- driven only be greed.
As we learned in 2008, greed only wants, it doesn't have an exit plan for when a system which is designed to fail actually fails.
The abuse of the H1B Visa program by large left coast technology corporations will soon be viewed as a National Security hazard, as the drain in homegrown technology will limit our ability to maintain a strategic advantage as a superpower. Companies like Cisco, and specifically the executives that drive these decisions will be rightly seen as having blood on their hands. This is no longer about just a standard of living decline, but a strategic failure of leadership -- driven only be greed. Shame.
Have you considered relocating to Bangalore?
Yes, 20 years ago when our management in the US asked everyone to consider it. Back then the executives were quite open about the fact they could get 4-5 engineers for the price of one here.
Have you considered relocating to Bangalore? Granted, there are many downsides, but at least you'll get to keep your same job they just "eliminated" and you'll get to be paid 60% less -- thus helping the ELT with their quarterly bonus.
If you dig below the headline rate you will find it counts part time jobs as employment. There is also nothing in the rate that accounts for the quality of a job. Fast food employee or engineer both count the same in the rate.
Outsourcing is destroying the tech workers in US.
Most of the people I've worked with, both in the US and abroad, come into the workforce having been taught one way to solve a small set of problems and they essentially do that for the rest of their career. Given how many people coming into the workforce don't have any engineering or computer science backgrounds the overall quality of the development community is definitely going down and too few value continually advancing their skills. If 90% of your staff are going to be mediocre regardless of country why pay top dollar?
It is unfortunate that while so many high tech workers in the US are out of jobs, company's are hiring from outside of US. There was a time that a job could go out of US only if there was no US citizen qualified to do the job. Outsourcing is destroying the tech workers in US.
Showing one number to reflect the unemployment rate in all sectors of the economy is used to deceive people that interest rates have to remain so high.
It’s a scam folks.
It's only a scam to the people too stupid to realize one can't capture the state of a major economy in a single number. Or that the transition of labor heavy farming to labor heavy industry won't be repeated through every successive change in the economy. Or that infinite growth with infinite borrowing does not represent a viable and stable system. Or that not having useful skills makes you less employable. Or how "supply and demand" works.
Tech Job Market is a nightmare now . very difficult to get a Job.
Unemployment Numbers are low because that does not state the nature of the job.
there are a lot of 20 $ hr jobs which cater to blue collar but cannot run a family with this kind of income .
Biden is toast in November.
This is an underrated question but the answer is hiding in plain sight.
Google ADP employment report. Look at the numbers. Information has been negative for a long time. Yes, replacing 2 250€ jobs with 5 25€ jobs is a net positive but very misleading because the total buying power has decreased.
It’s a scam folks.
Plenty of gig jobs without benefits. You are looking for jobs that pay well and have health insurance/retirement benefits.
White collar jobs are being sent overseas or to consulting agencies.