"Zillenials want everything handed to them for free." 1. It's impossible to find work. 2. Wages for work are stupid low. 3. Employers will fire you for no reason. 4. Prices for stuff are stupid high. 5. If you want respect from people, you should learn to respect them first.
I think it is critical to note that US companies are STILL HIRING, just not Americans. They are offshoring jobs by default. My wife's job was recently moved to Egypt. We know of others that were moved to Poland, but most of all India.
Yup. We’re being replaced on a mass scale. The reason there are no jobs is not only because companies are data collecting and getting tax write offs, they’re also hiring ghost crews of illegal immigrants!
Actually the us tech company had been intentionally hiring mostly from Asia since 2015. They just hiring someone from India, give them h1b, and move them here. Or they open a giant center in India and hire a few thousand engineers directly.
Do NOT start a family before 2032 as we are now in the GreatEST Depression which will last at least 5-10 years. Please do not be evil and selfish bringing a child into this.
@@Sarah-gz8ut been waiting for this phantom unemployment to show up for over 12 months now. People have been talking and talking about it, but there’s no actual materialization bc it’s just speculation
Every GenZer I know thinks the job market is t errible. None of us can find jobs. We need to send out hundreds and hundreds of applications just to get one automated reply
I've dropped over 1,000 applications in like eight months. I am a senior software engineer. I've developed stuff for the medical community with radiation treatment therapy software. I've developed stuff for social media networks, I've been doing work for nearly 30 years in the field. I have never once had to put out more than 30 or so resumes to at least get a few interview. I'm a thousand applications in and Finally, I get an interview on Monday! The job I'm applying for is about $40,000 a year less than what I normally make. But I'll take it.
Very common that "software engineers" (you're a coder, not an engineer) can't find work, it's because youre not as skilled as you think you are. I have no issues finding self employed work, you have to be able to adapt to whatever the client asks in very little time and if you can't do this then perhaps you're not as skilled as you think you are. I sort of doubt you even know sysinternals or any low-level stuff. There's way too many useless coders these days who don't contribute to open source, don't reverse engineer, don't know sysinternals, refuse to touch low-level languages, don't know assembler, etc.
The looming recession and the Fed's rhetoric of raising interest rates have investors extremely concerned. I'm not sure what to do with my $600,000 portfolio yet. because we may not enter a recession, and even if the Fed is hawkish, interest rates may not be raised further.
As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Invest--advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses. Minimal insurance, cut utilities.
Investing Is more than reading quarterly reports. Learnt this from reading Peter Lynch's book. I believe there are people who do this for a living, and I just delegate the task to these professionals. That's how I make money from the market to be honest.
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Imo we’ve never fully recovered from 2008. In 2007 i could walk into a retail store and get a job. This hasn’t been a thing since. In 2008 when i fully entered the work world vs summer jobs, i couldn’t find ANYTHING. I had a college degree and lots of skills the only work I found were unpaid internships and i had student loans to pay off. My parents couldn’t front that burden forever and forced me to take a retail job. After many months of looking for a min wage job i eventually got one at walgreens. Now my requirements from employment are an actual livable wage which isn’t much higher than min wage right now in my area, but i can’t even get that. i’ve been forced to freelance and make ends meet any way i can. It is stressful and I’d rather have a day job.
My theory is that the advent of Internet hiring ruined it. It’s easier to send more low effort applications to many job postings than ever, so everyone does it. This overwhelms firms and encourages them to get more selective and arbitrary. They make such stringent requirements that now only either top 5% candidates or people with inroads get considered. Pareto rule, now the top applicants get many choices but the rest fight for scraps. Locality/ a persons presence in a neighborhood mean nothing now Plus immigrants and AI
Go further, I say since 9/11 we haven't. That was when I saw America change economically. Patriot act and terrorists, greed, etc. So so much. Done may go back to Reagan policies lifting the ladder from us all while they rise. All debatable sadly
@@DrSleepVC only during the pandemic and it really depended on the area. Mine is a tourist area, meaning the stores and restaurants are super saturated to support a larger population than what lives here. But when no one was visiting there were not enough locals to support these places being open. You couldn’t even get a 7.25/hr job here
I am trrying to get a job in tech, it is crazy that every "entry level" position requires 5YEARS OF EXPERIENCE!!! since when is 5 years experience, entry level?! its disgusting!!!
I suppose that “Entry level” refers to where the position sits on their pay scale, not the expectation that this opportunity would be the candidate’s first job in their field. I’ve seen similar postings while searching in different sectors… was very frustrating.
@@BAngel-kr2ty first off if you need experience it's not an entry level job. An entry level job means you can either be trained up at the job itself or that it's for people who are fresh out of school for something. With entry level jobs experience should be a bonus, not a requirement. Setting 5 years experience on an entry level job means you want to pay as little as possible for someone who you don't have to train. It means you don't value the experience, all you value is not spending money. Even if that money is one day of teaching how you do stuff at your store.
The water lines are moving for everyone. I have 7 years experience. The job posts that I'm qualified for now require 15 years of experience and the pay is a lot less.
My wife was just Laid off from her company- they have not been “back filling” positions at a rate of 2-1- and now they are starting to let people go….. this vid was timely- because yes…..when 30 people resign from a medium size company and only 10 of the positions are backfilled- thats essentially a layoff - but it doesnt show up in the unemployment surveys…. As such!
@@scienceofthemagi9750 I'm not sure that I agree. A lot more people today have been getting welfare payments than were getting in say, 2008. Also, there've been more govt employees, and their wages are up. All these folks are going to keep spending money. So I say that US might see a recession but certainly not a "depression".
@@JasbirSingh-zj1fgthe us doesnt have the money to spend its way out of it though. Debt to gdp is too high for huge interventions needed during bad times. Its all spent during the "good" times.
I think they are trying to hide the truth and string people along until after the election. After that, they will start changing the messaging to reflect the true situation, knowing its too late to affect the results.
@@Daniel-gh6uk with nobody wanting to do labor, and white collar jobs disappearing, theres going to be a lot of competition for "influencers". Our economy is screwed RN
All this stems from companies refusing to reduce their inflated margins after they took advantage during high inflation. And now the chickens come home to roost
No, it’s not. As this channel illustrates, it’s multiple issues, occurring at once. But you are sorely uninformed if you are buying the narrative that this economy sucks because of corporate greed
@@Boomercon3000lol…. Oh yeah Krogers admitting in court to price gouging and 50,000 rental properties being investigated for price collusion has nothing to do with it huh? So, how’s that boot taste?
Inflation is caused by companies raising their prices faster and higher then they need to to maintain profit margins, with the sole outcome and goal being profiteering. And that is what companies have done. Pay raises and raw goods have minimally increased
“Retail sales are up because people are spending money” is such a profound take. In December yall gonna be saying “retail sales are up only because of spending on holidays”. Then in March yall gonna be like “retail sales are up only because people are out traveling for spring”
Make your own clothes and provide your own goods. Though then that would require you to source raw materials, and have actual skills, neither of which do you have, or are accessible to you, and so therefore, you are reliant on people with skills who are smarter than you! 🤪🤪😂😂
Add more and more employers wanting people back in the office. Amazon just announced it wants everyone back in the office. That means people who have been working in sweats, PJs, or t-shirts and shorts are now buying Dockers and dress shirts or suits and ties.
@@DrSleepVCyup, no matter how good or bad an economy is doing consumer spending will always be seasonal. Back-to school season, holiday season, tax refund season, etc etc
It’s wild that these are this bad and they don’t even count people who’ve replaced one good job with two not-so-good ones, which is a LOT of people if my local area is any indicator.
They should also do a stat around the percentage of seniors having to work full time that didn’t have to work or work only part time before. I see so many OLD people stocking at Walmart now
@@lumpenstumper6151 Oh you mean the redefining of the word the biden admin did once they got in office so they could claim they never had a "recession" under his watch?
@@TychoKingdomand this is why people are so overly positive when they talk about it. Well this and the fact they don’t want to admit to themselves that these high profits aren’t gonna last. Same thing happened in 2008 and everyone acted like they didn’t know what happened. They did. They were just in denial. Same as now.
People have been quiet all summer saving up for summer-end back to school spending in August. People here don't have extra money and people move when apartment rent is raised. Landlords will back off if you go in to tell them you are leaving. Overtime is expensive and has been slashed. Wal-Mart has TV's from last Christmas sitting in the aisles and fans and A/C's and garden hoses still unsold in mid-September.
Brilliant presentation 👏 The reality for families is the only data we need. No extra money to spend, higher prices, no need for another expensive phone with AI so it can report more about what I do to advertisers.... we all had enough
Dude, you’re lost in the data. We’ve been in a recession for years, the bean counters just move the goal posts, redefine what a recession is, or play with the numbers enough so that the situation is not a “recession.” Pull your head up from the numbers and go look outside at the world.
This happened because of a mentality of only hiring the "high value employee". For decades since the millennials were old enough to work. This trend has been consistent across the collective thinking of most employers. Leading to having to go to college to get a job. A small town suffers greatly when the local plant closes. Because, that plant is willing to hire in mass. Gaining a job after going to college which is worth your degree is the minority. If the majority understands this and still fights for those high paying jobs against other applicants. It is more likely you will end up working at a Best Buy than a nice tech business if your field is in electronics. Either the law needs to force businesses to hire. Or, the anarchists need to start making an example of these businesses. Honestly, I have no faith in our legal system after forty years on this earth.
There are positions at my job that have completely vanished starting in 2018 so people will never be re hired for them. The responsibilities of those positions were permanently delegated to other team members. It sucks. I'm one of the only people that REMEMBERS that we once had more people and the workloads were manageable.
I mean most of those jobs litterally got sent to india/china. Everything they fear mongered and said would happen to us under automation, has instead happened under mass outsourcing. Human life in india/china is litterally cheaper than a chatgpt subscription. The only reason we got out of feudalism was because the bourgoisie was forced to compete over a lower number of peasants (cus of war), thus giving peasants more power. And now with india/china multiplying like insects and now consisting of 50% of the human population, were approaching feudalism FAST. Every tickbox that feudalism had, were now approaching. But notice how those jobs exist perfectly fine when it comes to government work. Healthcare, Defence, and construction? Their thriving. People at my Uni get jobs the moment they walk out. Exclusively because their not allowed to hire foreigners. We need a severe overpopulation tax. Companies that throw bodies at the problem instead of being more efficient, shouldn't be rewarded.
We all love downsizing and forcing less employees to do more work for zero wage increases. All so the CEO and shareholders can pinch out an extra $800,000 and get daily Yacht repairs instead of weekly. It's always fun looking at CEO vs. Employee wages through the decades. Did you know in 1960 CEO's only earned 10x more than their employees? Now it's like 380x more.
I believe this. Senior level software engineer at a top tech company. I’ve put in 150+ applications and only landed one interview. It was never this difficult, even with less experience. Most apps now end up with zero response.
Litterally 90% of those applications exist soley so they can outsource to overpopulated third world countries while saying theres no "qualified work here". Atleast thats how it is in Canada. A good 80% of the jobs in the federal job bank ended up being ghost jobs that companies put out so they can hire an Indian.
This is what happens when you use immature, malfunctioning AI to handle all application submissions and force applicants online where they have no choice but to use these broken systems.
Don’t expect a soft landing. We know inflation still far from its 2% destination - the FOMC didn’t raise rates now, we can never fortell their moves these days
I agree It’s always good to have a balanced fin-plan. I work with a professional planner multi market and fixed-income strategist in NY. the fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Unemployment figures release every month do not take into account the underunemployed who have exhausted their 6 months unemployment benefits without securing a new job. The economy has been shedding jobs in the tech sector since 2022. This sector has seen an increasing number of layoffs for the past two years. Perhaps, those who haven't been directly or indirectly impacted by the layoffs believe the economy is not shedding jobs.
In 2021, I got an interview for every 12 applications I sent. Now I'm getting an interview request for every >80 applications I send out, and I'm competing with people with PhDs for entry-level jobs in my field.
Yep. My field is govt, and its gotten way more competitive. People say "oh government s hiring" not necessarily. It depends on the region. Also those kids just coming out of college, no chance in hell they can get a job if many people like myself, with multiple degrees AND experience are also competing for sub 100k jobs.
I've been saying this for years, that the gamification of profit maximization would lead to not only the concentration of wealth, but the inability for the proletariat to participate in the economy the way they had before. It took massive disruption events such as the BLACK PLAGUE to reset the need and cost of labor, I hope we don't reach that point in the future.
Il help you be more specific than just saying "gamification". Its outsourcing dude. When the black plague happened, the proletariat got more political power because the bourgoisie were forced to compete over workers. Human life in india/china is quite litterally cheaper than a chatgpt subscription. Every single thing they told us would happen under automation, from the concentration of wealth, to the severe lack of jobs, has instead happened under outsourcing. I think its incredibly telling how industries that are forced to hire DOMESTICALLY, such as healthcare, academia, Defence, and the trades, have a health job market.
Got laid off. I can’t sell my Tesla. I can’t find a new job. Groceries are fucking expensive. We are in a depression. We’ve been in a recession for atleast 3 years
I've heard people say that EVs are better than hybrids because of less complexity and parts, but does that actually mean anything? Do EVs cost less because they're "less complex"? No, they cost more. Do EV's have lower long-term costs because they're "less-complex"? No, the massive battery requires heavy duty tires that are costlier (financially and environmentally) to replace. The battery is so expensive/difficult to replace that you typically have to replace the whole vehicle long before the 200,000 miles achieved by properly maintained ICE vehicles. You may say electricity is cheaper than gasoline, but that's largely because the government hasn't implemented a highway-use tax like they do for other fuels. Keep in mind maintenance, repairs, and value degradation combined often are the majority of the cost to operate an EV. In my opinion (pure battery powered) EVs only make sense (for the foreseeable future) if they have a range of under 100 miles on a full charge. Want to go further without burning fossil fuels? The most sustainable and scalable options are trains powered by overhead power lines, aircraft powered by microwave beams from orbital solar farms, and cargo ships that combine wind power with synthetic fuel or bio-fuel. Hydrogen produced by electrolysis could be combined with carbon monoxide from organic waste incinerators (running with limited oxygen) to create methanol. Organic waste may include agricultural byproducts and brush gathered from forests as part of efforts to reduce wildfire intensity.
@@JWQweqOPDH The core EV tech is rather trivial to implement. It's all the other stuff that make cars expensive. You only need to see the feature bloat in ICE cars to realize that they are just as unserviceable as current EVs
I’ve been trying hard to find a job…. I don’t have money for school so I only have retail and fast food experience but no one is hiring….. I feel so tired and hopeless
You can thank the temp foreign worker program for the 17% unemployment rate for Canadians aged 15-25. This was nothing but a corporate cash grab scam. Lets lobby to bring in tons of subsidized workers and only hire them so we can give the rest of the subsidy savings to our share holders. I am pro immigration, I am NOT pro corporate scams. These temp workers are also being exploited.
Student loans exist dude. Idk why people gate themselves out of college over perceived costs. You could literally go to an instate university and get a marketable education for ~$40,000 depending on where you live. You’re worried about that cost but not realizing the cost you incur every day by not doing something productive. Bachelors degrees earn on average $10k more per year than someone without.
You could try the trades dude. People poo poo them but the old guys are retiring and there aren't enough people to replace. Welders, electricians, plumbers etc are still going to be needed. AI can do a lot but it can't weld or fix electrical. Can inquire to the local tradesmen what schools/apprenticeships etc. I wish you the best of luck. 🙏
Yea but AI is gonna fix everything to these companies 😂. Software Developer here. Been unemployed for two years. If it wasn’t for jobs through apps i’d be homeless. So many job openings and nobody calls you back!
Dont worry almost every job you applied to was a ghost job, which was only posted so they can justify outsourcing it to an indian (whos cheaper than a chatgpt subscription). Human life in india/china is cheaper than a chatgpt subscription. We need a severe overpopulation tax. The rich shouldn't GIVE AWAY our resources because some other country REFUSED to control their population explosion. On an additional note, the Chinese one child policy should be enforced in India. Deng XiaoPing should be considered a hero for the steps he took to improve china.
yeah its very sad if you have worked in the same job since 2000. The people who graduated around then are now competing with people who have graduate degrees and multiple years of experience. Unfortunately the new "economy" if we can call it that requires people to pivot careers multiple times to survive.
Different perspective: Most companies don't pay attention to the macros. Businesses manage employment as a ratio of headcount to revenue and use the competition as a baseline. $700k in revenue per warm body, for example. Companies only change that ratio when they see a competitive leader move, then follow like sheep. Most mid-large companies manage numbers to play in front of analysts. If there is an industry-wide revenue decline AND someone decides to blink, then really bad things can happen.
Coming from the manufacturing sector, I saw sales drop off about 16 months ago and they haven't come back yet. They aren't at record lows but definitely depressed 25-30% off "normal" levels.
I haven't had sales this low since the first year I started my company out of a barn in my front yard with no advertising. I just stuck a sign in the yard, left the door open, and did almost as well that first year (2014) as 2024
its going to be hilarious when all these managers realize that the AI is going to replace them too and then they are going to be scrubbing their arm pits with stolen soap at the river with the rest of us in a few years.
@@NotShowingOffAmericans "aren't willing" to work for HALF of what they were getting 5 years ago! The ill eagles (avoiding "sensorship") have their pregnant gf at home collecting "public assistance", they'll work for starvation wages because OUR TAX DOLLARS make up the rest!
@@SigFigNewton foreign nationals cant possibly build enough housing fast enough to make up for their own invasion, especially when there's no end in sight to millions invading our country every year. it just spells permanent housing crisis, lower wages for everyone attempting to make ends meet, and increases in violent crime, homelessness, vagrancy, societal decay, and destroying social trust.
Been unemployed since june, cant find a job. Apparently i'm too over qualified with a master's degree. I'm even stepping out of my comfort zone looking for stuff in other states (I own nothing, can move freely) and 0 luck.
There's NEVER been a lack of jobs. There's a constant lack of SUFFICIENT INCOME, and this is a completely different problem that needs solving than the one being pushed.
My company made $10 billion in profit last year (record profit). This year, they’re on track to make $7B. They laid off 40% of the workforce this year and shipped the work to Mexico.
Was watching Doom bird on a Podcast and he said he was not expecting a recession because oil demand is not down it just shifted from gas & diesel to LPG & CNG.
LoL yeah, yesterday's video was very uplifting and useful, complete with actionable, helpful steps to guide his viewers towards a path of success. Ummm maybe not.
Perhaps people who don't know how to cook can no longer afford takeout from traditional restaurants so they're ordering more pizza. (Maybe bosses are having more pizza parties to distract from other issues.)
Hiring is at all-time lows due to economic uncertainty, rising inflation, and fears of a looming recession. Companies are cutting back on growth plans, tightening budgets, and preparing for the financial storm, leaving fewer opportunities for job seekers in an already strained labor market.
also outsourcing. I just got a lowball offer and now the position is posted in India!!! If you look at Target careers, they are sending loads of jobs to India too!
this keeps on going war is bound to happen to force money to move otherwise the people who are hoarding is going to die like a dragon on a mountain of gold
Man, it's almost as if posting 200 job positions when you only have the funding for 100, 20 slots that are open, and paying those 20 as if they were 10 is a bad idea!
So with 'back to school shopping' and all those millions of new illegal residents we have managed to squeeze only .1% (1/10 of one percent) rise in spending?!? This is terrible!
@@tgyusmack3312 if it bothers you so much you could just engage with the conversation honestly. You don't have to project your flaws onto everybody else and this one is even an easy fix.
You still see some people in the highstreet. But not carrying shopping bags. And once fall starts, the tourists disappear, and you see what is really left...
The growth we saw during those periods was all driven by easy money. Now businesses have to actually make money to survive and grow, instead of being funded by investor funny money into perpetuity.
@@chadwells7562 That is true. These low interest rates were fueled by the petrodollar which is slowly going away. Most people don't understand what's going on.
@@WizardHarry69 The whole US economy is based on servicing debt. Think about, mortgages, home equity loans, student loans, car notes, subprime loans, derivatives, credit cards, etc. It is highly financialized.
I have been rejected in the last 6 months from 200-300 jobs. Only had 3 interviews, 1 of which was for a pyramid scheme (they advertised for a normal sales position). With the way the media has been gaslighting the market for the past year, this video makes me feel seen. The only problem is I am still without a job.
It is worse if you are a white male. For shits and giggles I submitted to the same req for a second time but with a slight name change and click the female box. I was 0/30 as a white male but 4/5 as a "female".
I am so glad I found a way to work for myself and make a decent living. It would be depressing to have to deal with the corporate world as a white guy in the current climate.
You realize that if most applicants are male then male will hold most jobs anyway despite the ratio. Look at tech companies that can barely reach 50% non-male ratio, which is even lower when looking at average
@PhoxKiD why should it be 50/50? Not all jobs are equally suitable for both men and women. Some are not as attractive to one or the other, and some have a much larger talent pool for one. Companies should be able to hire whoever provides the most value, and is best for their company. Think about how many Indians were hired for tech. Companies don't care, they just want to be able to create the best product for the lowest price.
That is fucking crazy. 2008 was bad because I remember getting out of trade school and having to compete with other folks with decades of experience that were recently laid off. I have a job now but I'm looking for a new company and it's just insane.
My wife worked at Target and now works at Winco and both have the same issue; people quit and aren't replaced, leading to stores being under staffed. Then they cut hours due to low productivity, due to too few workers. They are now considering just shutting down entire low productivity departments including sea food, deli, and pizza. It's like saying the beatings will continue until moral improves. My wife is currently working as fast as possible to transfer to another department or store.
There is also we want someone with 5 to 10 years experience because we wont invest the money in training anyone for the position, someone else has to do that.
I think it’s a big mistake to think rate cuts are the panacea. The Fed made this mistake in the 70s under Arthur Burns where he would lower rates when unemployment ticked up and raise rates when inflation began to rear its ugly head. I don’t think you can take your eyes off inflation. Yes, the Fed can fuel economic activity with rate cuts but that just means a flood of liquidity into the markets which means more speculation, more $$$ chasing fewer goods, higher prices. Inflation is like a train in motion going downhill. The momentum of inflation carries on long after the bad policies that created it are reversed. There is the issue of the declining creditworthiness of the American consumer, rising defaults. Banks are taking on epic losses across their entire loan portfolios. Even with cuts, lending standards will still remain tight in the risky times we live in. Lower interest rates mean home prices and vehicles get more expensive; exactly what the American consumer needs right now. What the consumer saves from a lower interest rate, he will pay that much more in base price for the item itself so there won’t be any relief there. Prop taxes and insurance costs aren’t factored in with inflation but they’re squeezing the consumer dry and interest rates have nothing to do with that at all one way or another. Rate cuts will not save us
Dont forget job seekers need to impress the A.I nonsense including video interviews that asses a multitude of "data points". Then the IQ test, then the apptitude test, then a written test, then a chat with an A.I bot then a chat with a human, then maybe a real life interview lol. 😂
@Adelina-293 ALL 0dte index option collusion. They started the daily options on indexes in fall of 2023, EXACTLY when the market started going up at a 45 ° angle since!
I've always worked in high-turnover jobs, so this is obvious to me. Layoffs are usually what happens right before the doors close for good. Hiring freezes happen on a monthly and quarterly basis to maintain proper staffing
@@Mike-es2yg Challenger is an outsourcing firm that publishes a monthly job cut report (not a job formation report) and their report showed a 1% increase in August YoY job cuts - hardly anything for Poindexter here to get his panties all bunched up over.
@@Mike-es2yg CGC is an outplacement firm that publishes a job cut report monthly. Their most recent report, for August, was published last week and it showed a nominal 1% increase in job cuts on a YoY basis - nothing for Poindexter here to get excited about.
@@purelogic3595 Real retail sales were mostly consistent with the trend starting from the end of the Great Recession until mid-2015. At that point, real retail sales fell below the trendline and consistently inched further away from it. The COVID pandemic resulted in extreme divergence from the trend but sales quickly made their way back up, surpassing the trendline in March 2021 as a result of the COVID-recession recovery. Real retail sales remained above the trend for 18 months until August 2022. After a few months of bouncing above and below the trendline, real retail sales dropped below the trendline in July 2022 and have been there ever since.
Recession has always been the ultimate weapon against inflation. Recessions create the necessary fear to change behavior. Fear is what makes employees accept lower wages, worse benefits, and so forth. Fear is what makes businesses reduce prices, offer incentives, and so forth.
12 years of experience in my field. I got laid off late February and have sent out hundreds of applications. I've had a handful of multi (4+ interviews for the position) layer interviews and they all ended in "the position has been put on hold". I'm completely exhausted.
I have far far less experience in the job market looking for about as long. Hit a point I'm starting to wonder if ending it is a more viable option. Certainly better chances then I have getting a job.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
I was let go 4months ago, im in tech and so far I've applied to over 60 positions with just 3 interviews and no job.. I mentally prepared for a longer hunt this time around but im not too sure ill land another job in tech, im 30, and while experience sounds good, a young hungry student sounds better to most companies.. Whats your experience?
I think there is some misunderstanding of some of the data out there. We are seeing a record number of retirements and semi-retirements. Many people at or near retirement age are cutting back to part time so we are seeing an increase in part-time hiring. I'm cutting back at the end of next year as I get ready to retire early. The data does not really reflect that the Baby Boomer Retirement and Semi Retirement is changing the employment picture. I work in an industry which is highly dependent on services and labor. Labor is still very tight for us and I still have a tough time finding the services we need in a timely manner.
BS. I am a retired Navy Commander, USNA grad, MBA, fighter pilot (injured by the jet G-Forces so I can't get an FAA medical) and I can't get hired or an interview. I am qualified to do anything.
I think you are correct with this being PART of the issue. Another PART i see being an issue is the massive % increases of public (gov) jobs compared to historical %s. For example up here in Canada the public sector hiring is up 40%+ over the past 8 years compared to historical averages. To me this leaves less people available for the private sector jobs on top of the retiring/partial retiring of baby boomers. Essentially, governments have been expanding their payrolls (leading to bigger deficits) to help offset the wage collapse of the private sector to keep the illusion of a growing economy. Thoughts?
@@BNezzy I honestly have not looked at govt hiring in the U.S. Not sure if non-military hiring is up or not. Food for thought for sure. We sure need more border agents. I know that police and state troopers have been traveling from other states to help the border states with staffing.
Great show. So usually the fed cuts rates, the yield curve un inverts, and the market plunges 13 to 19 days later. This time the yield curve un inverted first then the fed cut to catch up. Since the yield curve un inverted Sept 6. Do you think we're days away from a plunge?
This is the first recession in history, where companies also have a pool of 4 BILLION equally well trained indians/chinese, that multiply like insects, and whos life is LITTERALLY ARE CHEAPER THAN A CHATGPT SUBSCRIPTION. We need an overpopulation tax. India/China isnt more efficient, they just throw more bodies at the problem. Every single thing that they said would happen to us with automation, has happened TENFOLD with outsourcing.
This is my favorite channel. Despite the dip in crypto. I still thank you for the level headed financial advice I started crypto investment with $7,500 and since following you for few weeks now, I've got 25k In my portfolio. Thank you so much Mr Harrick Jason
The company I work for just got bought out and the new owners embrace the office work environment. They announced it over a teams meeting. You could see the people's faces sink who moved to another state when the work from home model was in place. We have people all over the US, and our office is in central TX. A hell of a commute.
"Zillenials want everything handed to them for free."
1. It's impossible to find work.
2. Wages for work are stupid low.
3. Employers will fire you for no reason.
4. Prices for stuff are stupid high.
5. If you want respect from people, you should learn to respect them first.
“Gen Z wants too much” 🙄
The victim blaming is crazy. It sounds like, what they’re really mad about, is the fact that we can see it
Sounds like my bonus and purchase of a Roomba saved the economy. YW
I think it is critical to note that US companies are STILL HIRING, just not Americans. They are offshoring jobs by default. My wife's job was recently moved to Egypt. We know of others that were moved to Poland, but most of all India.
This right here. It's so insidious.
Yup. We’re being replaced on a mass scale. The reason there are no jobs is not only because companies are data collecting and getting tax write offs, they’re also hiring ghost crews of illegal immigrants!
Actually the us tech company had been intentionally hiring mostly from Asia since 2015. They just hiring someone from India, give them h1b, and move them here. Or they open a giant center in India and hire a few thousand engineers directly.
US companies barely hire anyone who needs a visa for the this year. H1b is too costly
My job was off shored to Philippines and I haven’t been able to find one in 8 months since. It’s brutal. I’m hopeless.
Finally, I feel validated.
I knew I wasn't crazy for thinking things are worse economically than they've ever been.
Ed Yardeni is a good source for overly optimistic narratives to balance out this channel and attempt to have a more accurate view
Like… Ed brings data too
Do NOT start a family before 2032 as we are now in the GreatEST Depression which will last at least 5-10 years. Please do not be evil and selfish bringing a child into this.
@@rejectionistmanifesto8836 I'm not even married, it ain't happenin
@@rejectionistmanifesto8836 🌚did he just call people evil for doing what they’re genetically programmed to do?
🌝yes. He did.
We've already been in a recession for some time, but the "experts" haven't figured it out yet.
They know. They don't wanna say it out loud and make the investors panic.
Unemployment needs to be higher to be called a recession. You can point to all the numbers you want, unemployment is all that matters
@@lumpenstumper6151You should probably look into how unemployment numbers are calculated😂 Tons of people out of work aren’t even being counted.
@@Sarah-gz8ut been waiting for this phantom unemployment to show up for over 12 months now. People have been talking and talking about it, but there’s no actual materialization bc it’s just speculation
@@Sarah-gz8utsource?
Every GenZer I know thinks the job market is t errible. None of us can find jobs. We need to send out hundreds and hundreds of applications just to get one automated reply
facts
@@FN-Corrupt Yep, yet the media tries to g aslight us into thinking that the economy is "booming!!!!!"
Yup
I’m literally applying to entry level jobs and can’t get one. All of the immigrants took our jobs bro.
@@EM-wo6wf Exactly, but it's somehow controversial to say this
I've dropped over 1,000 applications in like eight months. I am a senior software engineer. I've developed stuff for the medical community with radiation treatment therapy software. I've developed stuff for social media networks, I've been doing work for nearly 30 years in the field. I have never once had to put out more than 30 or so resumes to at least get a few interview. I'm a thousand applications in and Finally, I get an interview on Monday! The job I'm applying for is about $40,000 a year less than what I normally make. But I'll take it.
Good Luck with the new job. Persistence pays dividends. Cheers
Nice! I’m going to school for ME.
We all feel so bad for you 🙄🙄
Best of luck! Remember all this if (I hope when) things come back around.
Very common that "software engineers" (you're a coder, not an engineer) can't find work, it's because youre not as skilled as you think you are. I have no issues finding self employed work, you have to be able to adapt to whatever the client asks in very little time and if you can't do this then perhaps you're not as skilled as you think you are. I sort of doubt you even know sysinternals or any low-level stuff. There's way too many useless coders these days who don't contribute to open source, don't reverse engineer, don't know sysinternals, refuse to touch low-level languages, don't know assembler, etc.
The looming recession and the Fed's rhetoric of raising interest rates have investors extremely concerned. I'm not sure what to do with my $600,000 portfolio yet. because we may not enter a recession, and even if the Fed is hawkish, interest rates may not be raised further.
As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Invest--advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses. Minimal insurance, cut utilities.
Investing Is more than reading quarterly reports. Learnt this from reading Peter Lynch's book. I believe there are people who do this for a living, and I just delegate the task to these professionals. That's how I make money from the market to be honest.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Imo we’ve never fully recovered from 2008. In 2007 i could walk into a retail store and get a job. This hasn’t been a thing since. In 2008 when i fully entered the work world vs summer jobs, i couldn’t find ANYTHING. I had a college degree and lots of skills the only work I found were unpaid internships and i had student loans to pay off. My parents couldn’t front that burden forever and forced me to take a retail job. After many months of looking for a min wage job i eventually got one at walgreens. Now my requirements from employment are an actual livable wage which isn’t much higher than min wage right now in my area, but i can’t even get that. i’ve been forced to freelance and make ends meet any way i can. It is stressful and I’d rather have a day job.
It was literally like this three years ago. You could walk into any retail store and get hired practically on the spot.
@@DrSleepVC hmm maybe then too. But yeah when needing 20/hr it’s not gonna be retail 😂.
My theory is that the advent of Internet hiring ruined it. It’s easier to send more low effort applications to many job postings than ever, so everyone does it. This overwhelms firms and encourages them to get more selective and arbitrary. They make such stringent requirements that now only either top 5% candidates or people with inroads get considered. Pareto rule, now the top applicants get many choices but the rest fight for scraps. Locality/ a persons presence in a neighborhood mean nothing now
Plus immigrants and AI
Go further, I say since 9/11 we haven't. That was when I saw America change economically. Patriot act and terrorists, greed, etc. So so much. Done may go back to Reagan policies lifting the ladder from us all while they rise. All debatable sadly
@@DrSleepVC only during the pandemic and it really depended on the area. Mine is a tourist area, meaning the stores and restaurants are super saturated to support a larger population than what lives here. But when no one was visiting there were not enough locals to support these places being open.
You couldn’t even get a 7.25/hr job here
I am trrying to get a job in tech, it is crazy that every "entry level" position requires 5YEARS OF EXPERIENCE!!! since when is 5 years experience, entry level?! its disgusting!!!
Yea I guess they shouldn't make sure you may be able to do the job before hand, right? That would be ridiculous of course! 🤪🤪😂😂
I suppose that “Entry level” refers to where the position sits on their pay scale, not the expectation that this opportunity would be the candidate’s first job in their field. I’ve seen similar postings while searching in different sectors… was very frustrating.
@@BAngel-kr2ty first off if you need experience it's not an entry level job.
An entry level job means you can either be trained up at the job itself or that it's for people who are fresh out of school for something.
With entry level jobs experience should be a bonus, not a requirement.
Setting 5 years experience on an entry level job means you want to pay as little as possible for someone who you don't have to train. It means you don't value the experience, all you value is not spending money. Even if that money is one day of teaching how you do stuff at your store.
Not only experience but experience in their proprietary software or machines or their unique environment.
The water lines are moving for everyone. I have 7 years experience. The job posts that I'm qualified for now require 15 years of experience and the pay is a lot less.
Is no one smart enough to realize the retail sales were decent because of back to school shopping? People are dumb!!
Also funny how consumer spending and credit card debt/delinquency make upward trajectory in a commensurate manner.
Good point John
ALL the "data" is FAKE, the Dems trying to keep the charade up until the "election"....
pretty sure everyone knows about seasonalities
Far to many NPC 😂😂😂
My wife was just Laid off from her company- they have not been “back filling” positions at a rate of 2-1- and now they are starting to let people go….. this vid was timely- because yes…..when 30 people resign from a medium size company and only 10 of the positions are backfilled- thats essentially a layoff - but it doesnt show up in the unemployment surveys…. As such!
I’m sorry NPM!!!😢.
I predict. This is going to be a western depression. I used to think it was going to be a recession. So gd luck
@@scienceofthemagi9750 I'm not sure that I agree. A lot more people today have been getting welfare payments than were getting in say, 2008. Also, there've been more govt employees, and their wages are up.
All these folks are going to keep spending money. So I say that US might see a recession but certainly not a "depression".
@@JasbirSingh-zj1fgthe us doesnt have the money to spend its way out of it though. Debt to gdp is too high for huge interventions needed during bad times. Its all spent during the "good" times.
@@thijsgadellaThe US always has money. Our "debt" is the most superficial thing anyone could have.
Layoffs have been going nuts the last 18 months for the high paying careers. It’s rough out there
Yup. If your unemployed and white collar getting a new job will be brutal
I think they are trying to hide the truth and string people along until after the election. After that, they will start changing the messaging to reflect the true situation, knowing its too late to affect the results.
@@bobbobertson7568 blue collar jobs will get more competitive as a result
@@Daniel-gh6uk with nobody wanting to do labor, and white collar jobs disappearing, theres going to be a lot of competition for "influencers". Our economy is screwed RN
It's brutal out there. Tech is also getting crushed. Wait until Amazon cuts thousands!
All this stems from companies refusing to reduce their inflated margins after they took advantage during high inflation. And now the chickens come home to roost
No, it’s not. As this channel illustrates, it’s multiple issues, occurring at once. But you are sorely uninformed if you are buying the narrative that this economy sucks because of corporate greed
Wrong again it is the ignorant customer
@@Boomercon3000lol…. Oh yeah Krogers admitting in court to price gouging and 50,000 rental properties being investigated for price collusion has nothing to do with it huh? So, how’s that boot taste?
Inflation is caused by companies raising their prices faster and higher then they need to to maintain profit margins, with the sole outcome and goal being profiteering. And that is what companies have done. Pay raises and raw goods have minimally increased
So reduce margins to negative and become a charity. Problem solved, economists.
Retail sales are up because people had to buy clothing and other goods for their families going back to school. Going to college and university.
Exactly.
“Retail sales are up because people are spending money” is such a profound take.
In December yall gonna be saying “retail sales are up only because of spending on holidays”. Then in March yall gonna be like “retail sales are up only because people are out traveling for spring”
Make your own clothes and provide your own goods. Though then that would require you to source raw materials, and have actual skills, neither of which do you have, or are accessible to you, and so therefore, you are reliant on people with skills who are smarter than you! 🤪🤪😂😂
Add more and more employers wanting people back in the office. Amazon just announced it wants everyone back in the office.
That means people who have been working in sweats, PJs, or t-shirts and shorts are now buying Dockers and dress shirts or suits and ties.
@@DrSleepVCyup, no matter how good or bad an economy is doing consumer spending will always be seasonal. Back-to school season, holiday season, tax refund season, etc etc
It’s wild that these are this bad and they don’t even count people who’ve replaced one good job with two not-so-good ones, which is a LOT of people if my local area is any indicator.
They should also do a stat around the percentage of seniors having to work full time that didn’t have to work or work only part time before.
I see so many OLD people stocking at Walmart now
A lack of hiring combined with poor wages.
Also an influx of new grads/unskilled workers who think theyre skilled when they arent in reality.
@ChineseRatfaceCHANG yeah and jobs that were previously considered unskilled now require a certificate or license.
@@ChineseRatfaceCHANG Who's skilled then? You expecting kids to have 10 years of experience? lol
How, in any stretch of your imagination do you not realize we are already in a recession. Depression is the next step. How big.... is the question.
The largest in human history. Stay safe not everyone is making it through this great filter of greed
You don’t have a good definition of recession then.
@@lumpenstumper6151 Oh you mean the redefining of the word the biden admin did once they got in office so they could claim they never had a "recession" under his watch?
Well the have to wait for the data. It will be too late by then but nobody is just gonna start saying stuff. Because words affect the stock market.
@@TychoKingdomand this is why people are so overly positive when they talk about it. Well this and the fact they don’t want to admit to themselves that these high profits aren’t gonna last.
Same thing happened in 2008 and everyone acted like they didn’t know what happened. They did. They were just in denial. Same as now.
Well that's what happens when businesses aren't required to report their layoffs and firings and quits etc.
People have been quiet all summer saving up for summer-end back to school spending in August. People here don't have extra money and people move when apartment rent is raised. Landlords will back off if you go in to tell them you are leaving. Overtime is expensive and has been slashed. Wal-Mart has TV's from last Christmas sitting in the aisles and fans and A/C's and garden hoses still unsold in mid-September.
Brilliant presentation 👏 The reality for families is the only data we need. No extra money to spend, higher prices, no need for another expensive phone with AI so it can report more about what I do to advertisers.... we all had enough
When america falls apart nobody will admit it until FAAAR too late
that's generally how it goes with empire... the people at the top feel the heat last
What is "fall apart"?
Dude, you’re lost in the data. We’ve been in a recession for years, the bean counters just move the goal posts, redefine what a recession is, or play with the numbers enough so that the situation is not a “recession.” Pull your head up from the numbers and go look outside at the world.
I look outside and see a dead world
This happened because of a mentality of only hiring the "high value employee". For decades since the millennials were old enough to work. This trend has been consistent across the collective thinking of most employers. Leading to having to go to college to get a job. A small town suffers greatly when the local plant closes. Because, that plant is willing to hire in mass. Gaining a job after going to college which is worth your degree is the minority. If the majority understands this and still fights for those high paying jobs against other applicants. It is more likely you will end up working at a Best Buy than a nice tech business if your field is in electronics. Either the law needs to force businesses to hire. Or, the anarchists need to start making an example of these businesses. Honestly, I have no faith in our legal system after forty years on this earth.
Exactly.
While you’re right, it’s good to have people doing scientific analysis of economics. There’s always value in numbers if they are presented accurately.
There are positions at my job that have completely vanished starting in 2018 so people will never be re hired for them. The responsibilities of those positions were permanently delegated to other team members. It sucks. I'm one of the only people that REMEMBERS that we once had more people and the workloads were manageable.
I mean most of those jobs litterally got sent to india/china.
Everything they fear mongered and said would happen to us under automation, has instead happened under mass outsourcing.
Human life in india/china is litterally cheaper than a chatgpt subscription.
The only reason we got out of feudalism was because the bourgoisie was forced to compete over a lower number of peasants (cus of war), thus giving peasants more power.
And now with india/china multiplying like insects and now consisting of 50% of the human population, were approaching feudalism FAST.
Every tickbox that feudalism had, were now approaching.
But notice how those jobs exist perfectly fine when it comes to government work.
Healthcare, Defence, and construction? Their thriving. People at my Uni get jobs the moment they walk out. Exclusively because their not allowed to hire foreigners.
We need a severe overpopulation tax. Companies that throw bodies at the problem instead of being more efficient, shouldn't be rewarded.
We all love downsizing and forcing less employees to do more work for zero wage increases. All so the CEO and shareholders can pinch out an extra $800,000 and get daily Yacht repairs instead of weekly.
It's always fun looking at CEO vs. Employee wages through the decades. Did you know in 1960 CEO's only earned 10x more than their employees? Now it's like 380x more.
Like you know the old tune "boss makes a dollar, I make a dime"? Yeah that used to be real. Now it's more like pennies to hundreds.
Just remember that their profits have never been higher as well, so it's purely greed driving it
I believe this. Senior level software engineer at a top tech company. I’ve put in 150+ applications and only landed one interview. It was never this difficult, even with less experience. Most apps now end up with zero response.
Litterally 90% of those applications exist soley so they can outsource to overpopulated third world countries while saying theres no "qualified work here".
Atleast thats how it is in Canada. A good 80% of the jobs in the federal job bank ended up being ghost jobs that companies put out so they can hire an Indian.
I dont believe that
i 100% believe you.
This is what happens when you use immature, malfunctioning AI to handle all application submissions and force applicants online where they have no choice but to use these broken systems.
Typical Z tarrd. This problem with agonizingly bad before AI was doing anything.
If the unemployment rate is able to remain steady while the Fed hikes and inflation falls back to target, a soft landing might be on the table
Don’t expect a soft landing. We know inflation still far from its 2% destination - the FOMC didn’t raise rates now, we can never fortell their moves these days
Fixed income Tbills and bonds may work for you while you try to figure out the next entry point for stocks
I agree It’s always good to have a balanced fin-plan. I work with a professional planner multi market and fixed-income strategist in NY. the fixed income portion of your portfolio won’t simply serve as a buffer to the volatility of the equity portion of your portfolio, but will provide legitimate income.
Who are you working with please?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Unemployment figures release every month do not take into account the underunemployed who have exhausted their 6 months unemployment benefits without securing a new job.
The economy has been shedding jobs in the tech sector since 2022. This sector has seen an increasing number of layoffs for the past two years. Perhaps, those who haven't been directly or indirectly impacted by the layoffs believe the economy is not shedding jobs.
I still don't understand how they don't call this a recesion. It's even worse than that and everyone keeps saying that the economy is strong.
Whta's worse than recession?
@@ingbor4768depression
Not a recession for the elites
If they call it a recession folks will be super pissed and get up and actually do something. And they don't want that.
@@ingbor4768 A depression is worse.
In 2021, I got an interview for every 12 applications I sent. Now I'm getting an interview request for every >80 applications I send out, and I'm competing with people with PhDs for entry-level jobs in my field.
Yep. My field is govt, and its gotten way more competitive. People say "oh government s hiring" not necessarily. It depends on the region. Also those kids just coming out of college, no chance in hell they can get a job if many people like myself, with multiple degrees AND experience are also competing for sub 100k jobs.
I've been saying this for years, that the gamification of profit maximization would lead to not only the concentration of wealth, but the inability for the proletariat to participate in the economy the way they had before. It took massive disruption events such as the BLACK PLAGUE to reset the need and cost of labor, I hope we don't reach that point in the future.
Il help you be more specific than just saying "gamification". Its outsourcing dude.
When the black plague happened, the proletariat got more political power because the bourgoisie were forced to compete over workers.
Human life in india/china is quite litterally cheaper than a chatgpt subscription.
Every single thing they told us would happen under automation, from the concentration of wealth, to the severe lack of jobs, has instead happened under outsourcing.
I think its incredibly telling how industries that are forced to hire DOMESTICALLY, such as healthcare, academia, Defence, and the trades, have a health job market.
Covid could have been that
Got laid off. I can’t sell my Tesla. I can’t find a new job. Groceries are fucking expensive. We are in a depression. We’ve been in a recession for atleast 3 years
You bought a Tesla says everything. 💩💩for 🧠🧠's.
I've heard people say that EVs are better than hybrids because of less complexity and parts, but does that actually mean anything? Do EVs cost less because they're "less complex"? No, they cost more. Do EV's have lower long-term costs because they're "less-complex"? No, the massive battery requires heavy duty tires that are costlier (financially and environmentally) to replace. The battery is so expensive/difficult to replace that you typically have to replace the whole vehicle long before the 200,000 miles achieved by properly maintained ICE vehicles. You may say electricity is cheaper than gasoline, but that's largely because the government hasn't implemented a highway-use tax like they do for other fuels. Keep in mind maintenance, repairs, and value degradation combined often are the majority of the cost to operate an EV. In my opinion (pure battery powered) EVs only make sense (for the foreseeable future) if they have a range of under 100 miles on a full charge. Want to go further without burning fossil fuels? The most sustainable and scalable options are trains powered by overhead power lines, aircraft powered by microwave beams from orbital solar farms, and cargo ships that combine wind power with synthetic fuel or bio-fuel. Hydrogen produced by electrolysis could be combined with carbon monoxide from organic waste incinerators (running with limited oxygen) to create methanol. Organic waste may include agricultural byproducts and brush gathered from forests as part of efforts to reduce wildfire intensity.
@@JWQweqOPDH
The core EV tech is rather trivial to implement. It's all the other stuff that make cars expensive. You only need to see the feature bloat in ICE cars to realize that they are just as unserviceable as current EVs
@@BAngel-kr2tystill voting kamala
@@BAngel-kr2ty some of them are not 100k, some are like 40k.
300 applications in...I kneeew it! 2 more months of lies...then we shall see.
I’ve been trying hard to find a job…. I don’t have money for school so I only have retail and fast food experience but no one is hiring….. I feel so tired and hopeless
You can thank the temp foreign worker program for the 17% unemployment rate for Canadians aged 15-25. This was nothing but a corporate cash grab scam. Lets lobby to bring in tons of subsidized workers and only hire them so we can give the rest of the subsidy savings to our share holders. I am pro immigration, I am NOT pro corporate scams. These temp workers are also being exploited.
Blue collar brother look for a helper job
Get a student loan and go to college for a good degree
Student loans exist dude. Idk why people gate themselves out of college over perceived costs. You could literally go to an instate university and get a marketable education for ~$40,000 depending on where you live.
You’re worried about that cost but not realizing the cost you incur every day by not doing something productive.
Bachelors degrees earn on average $10k more per year than someone without.
You could try the trades dude. People poo poo them but the old guys are retiring and there aren't enough people to replace. Welders, electricians, plumbers etc are still going to be needed. AI can do a lot but it can't weld or fix electrical. Can inquire to the local tradesmen what schools/apprenticeships etc. I wish you the best of luck. 🙏
Yea but AI is gonna fix everything to these companies 😂. Software Developer here. Been unemployed for two years. If it wasn’t for jobs through apps i’d be homeless. So many job openings and nobody calls you back!
Dont worry almost every job you applied to was a ghost job, which was only posted so they can justify outsourcing it to an indian (whos cheaper than a chatgpt subscription).
Human life in india/china is cheaper than a chatgpt subscription.
We need a severe overpopulation tax.
The rich shouldn't GIVE AWAY our resources because some other country REFUSED to control their population explosion.
On an additional note, the Chinese one child policy should be enforced in India.
Deng XiaoPing should be considered a hero for the steps he took to improve china.
@@honkhonk8009well that went from 0-100 real quick
I ran into one ad offering $30/hr to hold THREE SIMULTANEOUS POSITIONS ACROSS TWO COMPANIES.
GET THAT SHIT OUTTA HERE!!!
I think you forgot to stop looping the first 2 min of the video
Worse at 20 years of hiring. Yep. I believe it. Can’t find work for 8 months
yeah its very sad if you have worked in the same job since 2000. The people who graduated around then are now competing with people who have graduate degrees and multiple years of experience. Unfortunately the new "economy" if we can call it that requires people to pivot careers multiple times to survive.
Different perspective: Most companies don't pay attention to the macros. Businesses manage employment as a ratio of headcount to revenue and use the competition as a baseline. $700k in revenue per warm body, for example. Companies only change that ratio when they see a competitive leader move, then follow like sheep. Most mid-large companies manage numbers to play in front of analysts. If there is an industry-wide revenue decline AND someone decides to blink, then really bad things can happen.
good take!
And existing data still suggests job postings growth despite most of those jobs being fake
Coming from the manufacturing sector, I saw sales drop off about 16 months ago and they haven't come back yet. They aren't at record lows but definitely depressed 25-30% off "normal" levels.
I haven't had sales this low since the first year I started my company out of a barn in my front yard with no advertising. I just stuck a sign in the yard, left the door open, and did almost as well that first year (2014) as 2024
its going to be hilarious when all these managers realize that the AI is going to replace them too and then they are going to be scrubbing their arm pits with stolen soap at the river with the rest of us in a few years.
I am in a hrm class and the teacher is promoting using AI, but seems oblivious of its potential to steal her job.
Lmao this is the best comment ive seen in a long time. Thanks.
Want to join a cult?
Honestly, AI is probably better fit for simple coordination than it is for implementation tasks.
This happened in Canada and laws needed to be passed to stop outsourcing jobs
My former employer often said our dept. was 1/2 man overstaffed, lol.
Gotta give someone the axe 🪓 😂
top half or bottom half?
I've been working construction for the last few years. Majority of the workers lately have been illegal immigrants 50/50 or worse.
Americans aren’t willing to do them. And nobody wants to fine companies that hire them
@@NotShowingOffAmericans "aren't willing" to work for HALF of what they were getting 5 years ago! The ill eagles (avoiding "sensorship") have their pregnant gf at home collecting "public assistance", they'll work for starvation wages because OUR TAX DOLLARS make up the rest!
Yup, immigrants are the people solving he housing shortage, I’ve noticed that too
@@SigFigNewton Trump knows this. But just like Putin and Bin Salman, he’d rather rule over a trash heap than be healthy accountable in a just society
@@SigFigNewton foreign nationals cant possibly build enough housing fast enough to make up for their own invasion, especially when there's no end in sight to millions invading our country every year. it just spells permanent housing crisis, lower wages for everyone attempting to make ends meet, and increases in violent crime, homelessness, vagrancy, societal decay, and destroying social trust.
Been unemployed since june, cant find a job. Apparently i'm too over qualified with a master's degree. I'm even stepping out of my comfort zone looking for stuff in other states (I own nothing, can move freely) and 0 luck.
There's NEVER been a lack of jobs.
There's a constant lack of SUFFICIENT INCOME, and this is a completely different problem that needs solving than the one being pushed.
That too, minimum wage has not changed since the mid-1990's which is problematic as costs of rent, food, etc have all been raised.
ok if there isnt a lack of jobs why is there a lack of jobs
@@Insideoutcest Because those WITH jobs are now working two and a side gig because they're overleveraged under terrible terms that should be illegal.
My company made $10 billion in profit last year (record profit). This year, they’re on track to make $7B. They laid off 40% of the workforce this year and shipped the work to Mexico.
Was watching Doom bird on a Podcast and he said he was not expecting a recession because oil demand is not down it just shifted from gas & diesel to LPG & CNG.
Solid video. Really insightful contrast vs. big media propaganda machine
Oh you can bet if a conservative is elected, it will be reported as the worst economy in history.
LoL
Yesterday was a better video.
@@bryangrant9282 LoL yeah it was very uplifting and useful, complete with actionable, helpful steps to guide his viewers towards a path of success.
LoL yeah, yesterday's video was very uplifting and useful, complete with actionable, helpful steps to guide his viewers towards a path of success. Ummm maybe not.
People will continue to vote themselves into the ground when the media tells them to
Your vote counts.
@@misteRRobot713 All the scorn feminist that put us here votes counted
@@marksgoogle4360 I could only wish to possess your level of naivete.
You are correct, Fox News tells folks to vote against their own interests and has been doing it for 30 years.
It's why we need to ignore mainstream media. I stopped 5 years ago
But the government is telling me the economy is improving.
I was applying for an entire year, at a minimum of 15 positions a day.
The economy is in shambles.
IF it leads to lower spending? No one is spending!
I work at Papa John's, we just hired tons of people. That being said - we just recently stopped hiring.
Perhaps people who don't know how to cook can no longer afford takeout from traditional restaurants so they're ordering more pizza. (Maybe bosses are having more pizza parties to distract from other issues.)
Hiring is at all-time lows due to economic uncertainty, rising inflation, and fears of a looming recession. Companies are cutting back on growth plans, tightening budgets, and preparing for the financial storm, leaving fewer opportunities for job seekers in an already strained labor market.
And it's preparing for that storm that creates the downward spiral.
Don't forget haiti
also outsourcing. I just got a lowball offer and now the position is posted in India!!! If you look at Target careers, they are sending loads of jobs to India too!
this keeps on going war is bound to happen to force money to move otherwise the people who are hoarding is going to die like a dragon on a mountain of gold
Old money doesn’t die. They are exchanged
Man, it's almost as if posting 200 job positions when you only have the funding for 100, 20 slots that are open, and paying those 20 as if they were 10 is a bad idea!
So with 'back to school shopping' and all those millions of new illegal residents we have managed to squeeze only .1% (1/10 of one percent) rise in spending?!? This is terrible!
Almost as if illegal immigration does not come with the benefits of legal immigration.
@@warlock64c lol scapegoat the problem more why don't chA
@@tgyusmack3312 who's scapegoating here? OP and I were commenting on immigration, nobody claimed it was the only problem.
@@warlock64c bad faith argument ¯\_(ツ)_/¯
@@tgyusmack3312 if it bothers you so much you could just engage with the conversation honestly. You don't have to project your flaws onto everybody else and this one is even an easy fix.
I have monitored help wanted adds for 35 years.. this year has been the fewest I’ve ever seen.. for sure..
Congrats on 100k subs some channels can't do that in 10yrs and you have done it in two years time👏👏👏
He mite culd fix dat snaggletoof now
You still see some people in the highstreet. But not carrying shopping bags. And once fall starts, the tourists disappear, and you see what is really left...
Interest rates going up from 0.20% to 5.5% in two years can do that. People are tapped out due to inflation, and interest rates going up a lot.
The growth we saw during those periods was all driven by easy money. Now businesses have to actually make money to survive and grow, instead of being funded by investor funny money into perpetuity.
@@chadwells7562 That is true.
These low interest rates were fueled by the petrodollar which is slowly going away. Most people don't understand what's going on.
Don't be a debt addict then. Pay the price now
@@chadwells7562 Yep.
@@WizardHarry69 The whole US economy is based on servicing debt. Think about, mortgages, home equity loans, student loans, car notes, subprime loans, derivatives, credit cards, etc. It is highly financialized.
I have been rejected in the last 6 months from 200-300 jobs. Only had 3 interviews, 1 of which was for a pyramid scheme (they advertised for a normal sales position).
With the way the media has been gaslighting the market for the past year, this video makes me feel seen.
The only problem is I am still without a job.
Job cuts, job creation numbers adjusted downward by 1 million, hiring fallen 40%, no wonder the fed cut rates by .5%, but it's too little too late
It is worse if you are a white male. For shits and giggles I submitted to the same req for a second time but with a slight name change and click the female box. I was 0/30 as a white male but 4/5 as a "female".
I am so glad I found a way to work for myself and make a decent living. It would be depressing to have to deal with the corporate world as a white guy in the current climate.
@@AkaRyrye83 sounds like freedom
Fucking JOKE!!!! Me too.
You realize that if most applicants are male then male will hold most jobs anyway despite the ratio. Look at tech companies that can barely reach 50% non-male ratio, which is even lower when looking at average
@PhoxKiD why should it be 50/50? Not all jobs are equally suitable for both men and women. Some are not as attractive to one or the other, and some have a much larger talent pool for one. Companies should be able to hire whoever provides the most value, and is best for their company. Think about how many Indians were hired for tech. Companies don't care, they just want to be able to create the best product for the lowest price.
number of households that receive SNAP benefits hit all time high.
That is fucking crazy. 2008 was bad because I remember getting out of trade school and having to compete with other folks with decades of experience that were recently laid off.
I have a job now but I'm looking for a new company and it's just insane.
If you are surprised you aren’t paying attention.
Businesses are required to post openings. They are not required to fill them and the business sets the requirements for being hired. Not the law.
Manufacturing Production MoM was up .9% vs -.0.7.
How much was defense manufacturing, vs actual consumer products?!
My wife worked at Target and now works at Winco and both have the same issue; people quit and aren't replaced, leading to stores being under staffed. Then they cut hours due to low productivity, due to too few workers. They are now considering just shutting down entire low productivity departments including sea food, deli, and pizza.
It's like saying the beatings will continue until moral improves. My wife is currently working as fast as possible to transfer to another department or store.
There is also we want someone with 5 to 10 years experience because we wont invest the money in training anyone for the position, someone else has to do that.
I think it’s a big mistake to think rate cuts are the panacea. The Fed made this mistake in the 70s under Arthur Burns where he would lower rates when unemployment ticked up and raise rates when inflation began to rear its ugly head. I don’t think you can take your eyes off inflation. Yes, the Fed can fuel economic activity with rate cuts but that just means a flood of liquidity into the markets which means more speculation, more $$$ chasing fewer goods, higher prices. Inflation is like a train in motion going downhill. The momentum of inflation carries on long after the bad policies that created it are reversed. There is the issue of the declining creditworthiness of the American consumer, rising defaults. Banks are taking on epic losses across their entire loan portfolios. Even with cuts, lending standards will still remain tight in the risky times we live in. Lower interest rates mean home prices and vehicles get more expensive; exactly what the American consumer needs right now. What the consumer saves from a lower interest rate, he will pay that much more in base price for the item itself so there won’t be any relief there. Prop taxes and insurance costs aren’t factored in with inflation but they’re squeezing the consumer dry and interest rates have nothing to do with that at all one way or another. Rate cuts will not save us
Dont forget job seekers need to impress the A.I nonsense including video interviews that asses a multitude of "data points". Then the IQ test, then the apptitude test, then a written test, then a chat with an A.I bot then a chat with a human, then maybe a real life interview lol. 😂
"Involuntary separation from an employment opportunity" is the most corporate coded horse shite I've ever heard lmao
Why has the stockmarket stayed high? It seems like its being artificially maintained …
Asset holders. Housing land etc. When the fed cuts those drug addicts on wall street will go nuts.
The big players with big money are propping it up.
The stock market is not the economy. The stock market is really driven by 50 of the largest companies out there.
It IS being artificially kept up, through 0dte index option collusion. Kris Sidial on Twitter has spoken about it.
@Adelina-293 ALL 0dte index option collusion. They started the daily options on indexes in fall of 2023, EXACTLY when the market started going up at a 45 ° angle since!
I've always worked in high-turnover jobs, so this is obvious to me. Layoffs are usually what happens right before the doors close for good. Hiring freezes happen on a monthly and quarterly basis to maintain proper staffing
What exactly is the source of this data - give me the name of the release and the release date.
Challenger, Grey, and Christmas job reports, look it up.
@@Mike-es2yg Challenger is an outsourcing firm that publishes a monthly job cut report (not a job formation report) and their report showed a 1% increase in August YoY job cuts - hardly anything for Poindexter here to get his panties all bunched up over.
@@Mike-es2yg CGC is an outplacement firm that publishes a job cut report monthly. Their most recent report, for August, was published last week and it showed a nominal 1% increase in job cuts on a YoY basis - nothing for Poindexter here to get excited about.
@@Mike-es2yg Yeah, but how does he get negative real retail sales when we're having goods deflation?
@@purelogic3595 Real retail sales were mostly consistent with the trend starting from the end of the Great Recession until mid-2015. At that point, real retail sales fell below the trendline and consistently inched further away from it. The COVID pandemic resulted in extreme divergence from the trend but sales quickly made their way back up, surpassing the trendline in March 2021 as a result of the COVID-recession recovery. Real retail sales remained above the trend for 18 months until August 2022. After a few months of bouncing above and below the trendline, real retail sales dropped below the trendline in July 2022 and have been there ever since.
So, when would you call the start of this recession? A few months ago? Imagine you're looking back on this from 5 years from now. When did it start?
It’s almost like people have been experiencing this irl 😭
I guess that’s what happens when you combine a terrible economy with deliberately telling a huge chunk of the workforce that they aren’t wanted.
But da economy "BOOMIN!!!!' doe!!!!!!!!! Why would da guvment lie?!?!
Ya gotta thank a union member. 😂
M1 increased from 4 trillion in January of 2020 to over 20 trillion in late 2021. This is why the consumer is weak. There is no free lunch.
But the economy is doing great, says our government
They are offshoring jobs or giving them to migrants-both legal and illegal.
Recession has always been the ultimate weapon against inflation. Recessions create the necessary fear to change behavior. Fear is what makes employees accept lower wages, worse benefits, and so forth. Fear is what makes businesses reduce prices, offer incentives, and so forth.
12 years of experience in my field. I got laid off late February and have sent out hundreds of applications. I've had a handful of multi (4+ interviews for the position) layer interviews and they all ended in "the position has been put on hold". I'm completely exhausted.
I have far far less experience in the job market looking for about as long. Hit a point I'm starting to wonder if ending it is a more viable option. Certainly better chances then I have getting a job.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?
Zachery M Demers is the licensed FA I work with,
ETFs, set and forget, look for big ones and low TER. MSCI, SPDR, Vanguard are a good start, set and forget.
Stupid bots
Keep in mind, people that have stopped looking for jobs are no longer included in the unemployment data
A small gully.. nothing to see here
Jeff "I use a service to pay shills for positive comments to help scam my viewers" Snider. Debunked.
I was let go 4months ago, im in tech and so far I've applied to over 60 positions with just 3 interviews and no job.. I mentally prepared for a longer hunt this time around but im not too sure ill land another job in tech, im 30, and while experience sounds good, a young hungry student sounds better to most companies.. Whats your experience?
I think there is some misunderstanding of some of the data out there. We are seeing a record number of retirements and semi-retirements. Many people at or near retirement age are cutting back to part time so we are seeing an increase in part-time hiring. I'm cutting back at the end of next year as I get ready to retire early. The data does not really reflect that the Baby Boomer Retirement and Semi Retirement is changing the employment picture. I work in an industry which is highly dependent on services and labor. Labor is still very tight for us and I still have a tough time finding the services we need in a timely manner.
BS. I am a retired Navy Commander, USNA grad, MBA, fighter pilot (injured by the jet G-Forces so I can't get an FAA medical) and I can't get hired or an interview. I am qualified to do anything.
I think you are correct with this being PART of the issue. Another PART i see being an issue is the massive % increases of public (gov) jobs compared to historical %s. For example up here in Canada the public sector hiring is up 40%+ over the past 8 years compared to historical averages. To me this leaves less people available for the private sector jobs on top of the retiring/partial retiring of baby boomers. Essentially, governments have been expanding their payrolls (leading to bigger deficits) to help offset the wage collapse of the private sector to keep the illusion of a growing economy. Thoughts?
@@ThunderStruck94660 That may be your experience but that's not what I'm seeing in my field. I wish you the best.
@@chuckmurray1825 lucky you I guess
@@BNezzy I honestly have not looked at govt hiring in the U.S. Not sure if non-military hiring is up or not. Food for thought for sure. We sure need more border agents. I know that police and state troopers have been traveling from other states to help the border states with staffing.
Great show. So usually the fed cuts rates, the yield curve un inverts, and the market plunges 13 to 19 days later. This time the yield curve un inverted first then the fed cut to catch up. Since the yield curve un inverted Sept 6. Do you think we're days away from a plunge?
"When is the media not positive about the economy?"
When a Republican is President.
This is the first recession in history, where companies also have a pool of 4 BILLION equally well trained indians/chinese, that multiply like insects, and whos life is LITTERALLY ARE CHEAPER THAN A CHATGPT SUBSCRIPTION.
We need an overpopulation tax. India/China isnt more efficient, they just throw more bodies at the problem.
Every single thing that they said would happen to us with automation, has happened TENFOLD with outsourcing.
Ok but I'm better than them. Also chatgpt cannot program for shit
This is my favorite channel. Despite the dip in crypto. I still thank you for the level headed financial advice I started crypto investment with $7,500 and since following you for few weeks now, I've got 25k In my portfolio. Thank you so much Mr Harrick Jason
I would really love to know how much work you did put in to get to this stage.
Please how do I go about it, am still a newbie on investment trading and how can I make profit?
All thanks to Mr Harrick Jason
He's a licensed broker here in the states
I'm surprised that this name is being mentioned here, I stumbled upon one of his clients testimony on CNBC news last week.
The company I work for just got bought out and the new owners embrace the office work environment. They announced it over a teams meeting. You could see the people's faces sink who moved to another state when the work from home model was in place. We have people all over the US, and our office is in central TX. A hell of a commute.
Get your KY ready for tomorrow.
Meaning...? Could go either way, wondering what you meant
Great content. I never knew this. Thanks so much for sharing.
Another compensated comment.