"Too conspiratorial"? Nah. The jobs report in particular seems like one of the most manipulated.
And anecdotal evidence for me, with IT jobs in particular, says that it's really tough to even get an interview now. And the people with these jobs are on pins and needles, hoping they'll keep them.
The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has already seen 60,000 job cuts across 254 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024. Smaller-sized startups have also seen a fair amount of cuts, and in some cases, have shut down operations altogether.
https://techcrunch.com/2024/10/01/tech-layoffs-2024-list/
I wonder if Powell and the Fed are factoring in the East and Gulf Coast strikes happening again since the Union already activated the 100-day countdown. The pay I feel like we knew they were going to hash out but the automation.... that has no easy answer and they have spent over a year already trying to address it.
The Union wants no automation even when it means an increase in safety and productivity. A huge example is how the West Coast Ports have added some automation and I want to say it was 700ish jobs that have been "lost" according to the East Coast Union but safety and productivity went up considerably. I mean 99% of the people in the US have to be looking at the salaries these guys are getting and going should I quit my job and join them? Almost all these people are going to be clearing $100 grand easily and in a state like Flordia your taxes are stupid low!
It's interesting because in the article you shared, it says this
The jobs count certainly was better than virtually anyone figured, with companies and the government combining to boost payrolls by 254,000, blowing away the Dow Jones consensus for 150,000. It was a big step up even from August’s upwardly revised numbers and reversed a trend that started in April of decelerating job numbers and rising concern for a broader slowdown
What companies have had mass layoffs in 2024?