Ask HN: What's Going on with the US Economy?
burgerland Wednesday, October 30, 2024Just saw the news about Dropbox doing 20% layoffs. There have been at least 600k to 1 million people laid off since 2022. While job market is absolutely bonkers, I saw on LinkedIn that US is posting strong growth.
How is this possible? Granted tech is only 8% of US job market, but layoffs in tech are due to stagnant market and state of the economy if we take reasons given for layoffs seriously.
Stock market is up but people can't find jobs. Are we in a state that we dont need these jobs anymore in tech? Are more people going to get laid off leading to '07-08 style recession?
Are we seeing meltdown due to AI in realtime? I can't make sense of anything going on in the US economy.
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