Cisco LR comes at the worst time since 2009 with nearly 1 million fewer jobs in 2024 than the gov’t initially claimed.
This overstatement of jobs means people are being trust into a significantly weaker economy than projected with substantially more layoffs expected this fall.
Gina Raimondo, United States Secretary of Commerce for Biden/Harris since 2021, didn't know that the Bureau of Labor Statistics lowered job numbers by 818,000. In her ignorance, she claimed that it was a Donald Trump lie. But it was our government who lied about job creation. Gotta love it.
Will get worse in the US if it continues moving toward Marxism.
This is why we need to make people learn English. We transfer what little value you create through the private sector in the form of capital gains and dividends and make 10% in a day from layoff announcements. We take more money through companies like Cal-Maine Foods, Inc. which charged what the market will bear, reportedly increasing operating income by 575% from 2022 to 2023. Real estate prices are set the same way. That medical procedure needed to save your life? The claim was denied and what the insurance company didn't pay becomes our wealth. The $30,000 markups on American cars that won't last the length of the 96 month loan are just a bonus. In each crash those of you that hoarded a small amount of anything will have to sell it to us for pennies on the dollar to survive. If you're so poor you can't just borrow against your assets to avoid paying taxes that's not our fault. Through regulatory capture the private sector controls the economy. Welcome to capitalism!
No, govt spent too much money, inflation results, Fed quickly hikes interest rates, inflation starts to slow, job numbers start to stall, inflation falls, job numbers increasingly fall off cliff, (X), Fed realises and begins to cut rates, enter recession,...
We're currently at (X)
Ah let the fear mongering begin.
Reality: There are jobs, yes it's tight for tech jobs specificallyat the moment. Because many tech companies are laying off.
Why: Corporate greed. Cisco and other tech companies are making record profits while laying people off, just to make additional profits.
My advice: Don't let the fear mongering win. Stay focused on staying sane, you will not helping yourself in anyway if you fall into the anger and blaming cycle that some on this forum have.
Choose to stay level headed and resilient. All things pass. Be strategic, consider a lateral move, or temporary lower paying role if needed to keep bills paid. But keep your head up and your dignity intact.
Will get worse in the US if it continues moving toward Marxism.
Feels a lot worse than 2008 right now
Do you want fries with that?
Did you really need a gov't report to convince you the economy is weak?
Try using your eyes next time and observe the world around you.
This looks really bad
https://www.nytimes.com/2024/08/21/business/economy/us-jobs-economy.html