patrick.net

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The job market looks solid on paper.

In 2023, unemployment hit a 54-year-low at 3.4% in January, according to the U.S. Department of Commerce. Bureau of Labor Statistics reported that U.S. employers added 2.7 million people to the payroll the same year. But it’s a different story for active job seekers.

A staffing firm Insight Global found that recently unemployed full-time workers applied to an average of 30 jobs, only to receive an average of four callbacks or responses. So why does it feel so hard to get a job right now and is the U.S. labor market as strong as it seems?

See more at CNBC: https://www.youtube.com/watch?v=hHaDrM8EgYg

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Notice how unemployment claims are just below 2 million and have steadied around that number. The steadying means its not necessarily a very good job market as the unemployment number is not slowly decreasing.

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Governments are hiring enough DEI employees to make sure the unemployment rate remains low.

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https://www.mypanhandle.com/news/local-news/bay-county/lynn-haven/maximus-to-close-lynn-haven-office-in-may/

see above ...this federal contracted call center is shutting down and laying off 100 who work at the Lynn Haven, FL office (about 5 miles from Panama City Beach)

they are looking to replace these 100 onsite call center jobs with work-from-home jobs

makes sense as it seems call center jobs can be more work-from-home jobs

Omni Interactions which is a company that offers call center services advertises a lot on work-from-home sites like Work At Home Queen and Rat Race Rebellion

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If history is any indication.

Yeah Eman, and that is why the "great" jobs growth numbers are driven mostly by health care, social assistance and government based on latest data from Mish Talk website.

21.24% of the new jobs added in 2023 were government
9.06% of the new jobs added in 2023 were social assistance
22.31% of the new jobs added in 2023 were health care

so at least 52% of the jobs added in 2023 were government, social assistance and healthcare

most health care is funded with government dollars such as Medicare, Medicaid, Veteran Affairs, or Affordable Care Act (subsidized by tax dollars)
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Eman says

If history is any indication.

I think we just witnessed the 1st part of the Boomer retirements. Next will be the death job losses for Boomers who didn't save. Then we will get the 3rd and final wave when those that were stubborn, could have retired but are work junkies. I think we're entering a flatline phase.

I mean that graph does look alarming, but the biggest current generation, Millennials are entering prime earning years. Getting lower pay than the Boomers they're replacing, so earnings and growth can go up. Covid was also a fluke in the employment system so who the hell really knows.

Love him or hate him one good move by Biden was the CHIPS Act. https://www.azcentral.com/story/money/business/tech/2023/10/19/tsmc-plant-close-manufacturing-start-date-north-phoenix/71240590007/

Drove by the facility last time out in AZ. It's massive. There's going to more of this stuff happening, So it's not all Joe Biden. Mexico is the future for cheap labor. So companies like Apple are going to have to bring manufacturing back stateside. One positive of Covid is that we're way too reliant on China and having stuff manufactured overseas.

After the Suez Canal Evergreen bockage and now Panama Canal region in a drought and the locks are at risk of not working, we have a massive shipping issue. Stuff is coming back because we have a lot of young and cheap labor with the Boomers going away, we have the ability to replace them and add more.

Where Biden has failed is controlling inflation. It's the reason we've been delaying the build on our next primary home. Yes it's custom, we own the lots but bids are fucking ridiculous. He's also dying in front of our eyes and it is embarrassing. I think we're gonna just pull the trigger regardless this summer/fall and at least break ground and get the foundation going before it freezes.

I'm optimistic about the future if I'm being honest. Probably on average you have $40-50/hr workers being replaced with $20-30/hr workers. That's a massive increase in capital. Investor was returns, so while they'll save some cash, they'll invest into things that create income for them and shareholders. I think this is a post covid blip on the radar. I don't know a single person that can't find a job. My SIL felon works two part time jobs, has an apartment and just went on a cruise with us. She doesn't have money like us remotely, but she no longer qualifies for food stamps. There are jobs to be had and life a fun life. Just takes work.

AD says

Yeah Eman, and that is why the "great" jobs growth numbers are driven mostly by health care, social assistance and government based on latest data from Mish Talk website.

21.24% of the new jobs added in 2023 were government
9.06% of the new jobs added in 2023 were social assistance
22.31% of the new jobs added in 2023 were health care

so at least 52% of the jobs added in 2023 were government, social assistance and healthcare

most health care is funded with government dollars such as Medicare, Medicaid, Veteran Affairs, or Affordable Care Act (subsidized by tax dollars)
...

The whole country is headed to shitholeville status.

WookieMan says

Stuff is coming back because we have a lot of young and cheap labor with the Boomers going away, we have the ability to replace them and add more.

Maybe this is part of the reason for tons of illiterate invaders? Chhhheeeeaaaapppp labor for the factories.

Oddly enough, the supposedly apolitical Fed chair Powell said we need the workers when remarking on the illegal invasion.

GNL says

Maybe this is part of the reason for tons of illiterate invaders? Chhhheeeeaaaapppp labor for the factories.

Probably if I was being honest. I do think it can influence and help skilled workforces here in the states. Hard to tell until it happens. On wave one currently after Covid. So we'll see.

. from today's Yahoo Finance

https://finance.yahoo.com/news/google-lays-off-thousands-more-210822278.html

Google has initiated significant layoffs across its various teams, including the Voice Assistant, hardware, engineering and ad sales teams, marking a continuation of the tech industry’s trend towards reducing workforce expenses. The layoffs have affected hundreds of employees within the Voice Assistant unit; hardware teams responsible for Pixel, Nest and Fitbit products; and a considerable portion of the augmented reality (AR) team. This move is part of Google’s broader effort to streamline operations and align resources with its most significant product priorities.

Late last year, there were already worries within the company that AI was going to begin replacing employees at Alphabet. Futurism reported late last year the technology giant has already begun the process of replacing some jobs with AI tools developed internally. But this differs from what Google's senior vice president, Philipp Schindler, said on a recent earnings call about the recent restructuring and job cuts.

Schindler said, "I want to be clear, when we restructure, there's always an opportunity to be more efficient and smarter in how we service and grow our customers." He went on to say, "We're not restructuring because AI is taking away roles that's important here. But we see significant opportunities here with our AI-powered solution to actually deliver incredible ROI at scale, and that's why we're doing some of those adjustments."

Eman says

If history is any indication.

In the face of massive, unprecedented, levels of illegal immigration. Millions and millions of illiterate, unskilled, 'laborers' from around the world.
Well, the ones I have seen in on-the-street interviews will never compete for work or be productive contributors anyway.

Robert Sproul says

In the face of massive, unprecedented, levels of illegal immigration. Millions and millions of illiterate, unskilled, 'laborers' from around the world.
Well, the ones I have seen in on-the-street interviews will never compete for work or be productive contributors anyway.

How many unskilled workers do we need ? Its like playing a computer simulation game of a civilization or town. There is only a certain percentage of unskilled workers needed in order to optimally ensure a harmonious society AND effective economy.

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