Got laid off one time, 8 years ago, couldn't find another job for 6 months, burned through most of my savings at that time, it's a scar for life, you will never trust an employer again once you go through this. The whole "seek support" narrative is bullcrap, no one will support you, no one will help you, no one will care, you are on your own in this life.
Last year I was fired on Thanksgiving for being 3 minutes late to work on an 80 mile commute, was stuck in traffic and let them know. Greedy,obese Gen x boss fired me via pink slip from his cowardly brown nosing supervisor because he wasn't man enough to tell me in person. I also negotiated for a 2 dollar an hour raise which he never implemented. When I brought it up he fired me for being "late"
As a millennial, I've always braced for job cuts. All I've known is: unemployment, recessions, corporate greed, inflation, price gouging, wars, divisive politics, drugs, high taxes - that's why I've never had, or will ever have confidence in this economy. The smartest thing to do is avoid being a consumer.
On average, the United States has experienced a recession every three and a quarter years since 1857. However, since the end of World War II, the average has been closer to every six and a half years, with 12 recessions in total. The most recent recession was in 2020, but it was relatively short.
And its not just about US only. I am from India and i have just experienced same things with worse conditions. Most of us have stopped buying homes, getting married or having kids recently like most other nationa
Federal Govt is like, “Look at all these jobs we’re creating! The economy is doing great!” Meanwhile, those same jobs are mostly ghost jobs, low/minimum wage jobs, and exploitative gig jobs. The govt is trying hard to hide the ball on this one
The job market is filled with unfulfilling, underpaying jobs these days. People before would be like- I want to be X, Y, Z, when I grow up. Now a days you’re either rich or your not (the majority are not), but expecting to get involved in a career that really fulfills you and those passions while earning a livable wage is near impossible.
Everyone knows "low unemployment" is a lie or just means having to work two part-time jobs while also doing deliveries and Uber. Everyone, no matter their age, should be concerned, even baby boomers because ageism is a real thing. Every generation is suffering right now.
Unemployment rate is way higher. The US government labor and statistics counts part-time jobs as full time, they don't factor in/ calculate people working two or more jobs, and they calculate people not looking for work. Inflation is a lie too. Inflation is at 3.5 % but.........Here's how much gas, electricity, food, and rent have gone up since 2020 ¹ ²: - *Food and Beverages*: Prices for food and beverages have increased by 22.22% since 2020, with an average inflation rate of 5.14% per year. - *Gasoline*: Gasoline prices have fallen by 2.5% over the past 12 months, but have fluctuated over the past year. - *Electricity*: The index for electricity has increased by 4.4% over the last 12 months. - *Rent*: The index for rent has risen 0.3% over the month, and the shelter index has increased 5.2% over the last year, accounting for nearly seventy percent of the total 12-month increase in the all items less food and energy index. Please note that prices can vary depending on location and other factors.
Where are getting your data about the market being in a dump? My investments and 401k have been doing very well. You talked about job quality of unemployment. It’s about the sectors of the economy that are hiring such as manufacturing that are being evaluated by the markets.
@@wmpx34 that is not clear from his post. The job market has been booming both from numbers and personally speaking.. The data is clear on that. Regardless we need to understand what information and data he is looking at or is he relying on anecdotal information.
@@patrickm6012 I was reffering to the job market quality as stated by the original post. By that I mean that job listings contain sub “living wage” mostly minimum wage, lots of rare experience demanded for sub-standard wage. Why would anyone in an industry (the only qualified) leave to work for less doing the same job??? The majority of posting are not even direct hire, they are contract. Then there are the unwritten rules -over 40 will not be considered, or just fishing for underrepresented minorities.
Low unemployment? Have you guys even looked at what’s happening to full time jobs? 1 in 3 people have a side hustle? Insurance high, property taxes going up, credit card debt at the highest it’s ever been. But yeah everything is doing great.
People having multiple jobs isn't a nee concept and has been going on for decades. People just have short memories. The high paying jobs are there and there is a huge skilled worker shortage in the US but as usual most the people complaining are hustling with their Uber and food delivery gig and surprised they aren't making enough. Get a skilled high paying job
Hey, can't blame the Government- it is an election year and the current administration is not going to admit things aren't great. If the shoe is going to drop, it will mostly be after November election day
@@marryellenmonahan5585 To be classified as unemployed, a person must be without a job, currently available to work, and actively looking for work in the previous four weeks. Even when looking at it from that standpoint, the federal rate can be and often is drastically smaller than various municipalities across the nation, many of which have unemployment rates in the low double-digits range. What's truly scary to think about is the state agencies use the same metrics as the feds so the people who gave up on finding a job are not counted towards the total. Another critically important thing to consider are those individuals who are not factored into the rate i.e., people who are looking for work but don’t have a full-time job, working part-time but want full-time work, or who earn below the poverty line. That rate varies year-by-year and month-by-month but it tends to be seven to ten times higher than the official percentage.
I agree. It’s the high interest rates. They hiked about 7 to 9 times. Even though they paused, they are still high putting people on financial situations.
People get comfortable and think they have stability when you get a decent job and boom after you get a good car and mortgage that’s when the layoffs happen.
This headline is based on a survey. The title is misleading. Anyway, no job is secure. Always have a plan for your career and always have an exit plan. Don’t ever believe in company loyalty or the “we are a family” lie. Employee costs are a big expense for employers. That reason alone is why there is a bullseye on you.
I was laid off because my company folded, which is not so bad since I don't have to defend myself in an interview over why I was laid off. However, my former colleagues are now my competitors. The economy is in the toilet and I am kicking myself for not preparing. This is by far the worst time to be alive in a generation, and it'll only get worse i fear. As bad as it is now, I thank god I do not have children to support. I can't imagine how bad it is for parents in this economy. Get ready for the birth rate to plummet.
@Ampventures explain why 4/10 companies are fake job posting and business stores and restaurants are shutting down? Mabe because companies are trying to save money that they can't afford
There are plenty of jobs your just lazy like my neighbor who cried he couldn't find a job so I made some calls and had him a job that weekend but he failed to show up to work, people are just pathetic and don't want to work anymore.
we Gen X do not care. We have been adulting since elementary school. We drove in cars without seatbelts. We lay in the sun all day long covered in baby oil.😉
My firm sells tax services to all of these business and I can for 1000 percent sure say we will see layoffs increase. Every industry is struggling and sales are dying. Be ready for the beginning of Q4
What takes me is all these businesses wasting money expanding, expanding, expanding never mind the economy, Then you here about all these closings. If you work a cashier job, many of these places have more registers than cashiers. They sure do know how to waste profits for as greedy as they are for them.
@amerie36 believe it or not, most of these companies business models basis your net worth as an employee. Example in retail, the average employee is worth $21,315.50 per year. Based on a 49.5 weeks of working. Then times that by x amount of employees. Then they will go into the CRM and see when they are most profitable and increase or decrees staffing as needed. For our software clients. The average employee is worth $685,500 but of they are on track to do 85 percent or less you get terminated. Then that load gets added to other employees.
When you have an economic system that has every incentive to reduce hiring humans and try to innovate tech to replace humans as a labor force, we'll see high unemployment, deaths of despair, and break down of society. I reckon the real unemployment rate is probably at least 50%, where majority are working *multiple* part-time, low paying jobs trying to eke out bare living standards.
Gen X has been slouched under a tree, smoking a cigarette, watching these fools fight over the crap we gave up on decades ago. Forgotten is how we like it.
My husband and i are Gen x. We've experienced several job losses over the decades. 2008 was scary because we had an 18 month old and then i gave birth to twins and my husbands entire department shut down. My husband had tears wondering how he was going to take care of me and all these babies. I vowed at that moment as soon as i recovered from my caection surgery, i was going to work like crazy so that i never had to see him that fearful again. I reached that goal and now we travel the US, Canada, and Asia fulltime with our 3 teens without much worry.
@@Me-eb3wv I became a realtor and within 3 years became the top salesperson in my company and in the top 1% nationwide. I made a bunch of money, paid off the cars, the house, saved for our retirement, and saved college money for my three kids then retired during Covid and have been traveling full-time for 3 1/2 years. Now I'm a traveling homeschool mom
Been unemployed for over a year. Applied to hundreds of jobs. The only available ones? Ones no one wants to do. And? The only help is “training” on how to get a job by people who already have one. The fact that unemployment is the lowest it’s been? I think that’s a farce. It doesn’t account for people who ran out of unemployment benefits or the under-employed trying to find a job that pays what it should. Hint: people want a job. They don’t want to be told, or given classes or “training” on how to find one. The best advice? Find a way to save as much as you can and hold on for the ride.
Right? I am a millennial and I look up to gen X. Not sure why gen X is constantly ignored. Most of you have teenage kids and their college tuition to worry about. I am sure you are feeling layoff anxiety just as much as us.
I have seen some employers (in this example Pepsi Co- frito Lays) suddenly without notice layoff entire teams in a zoom call only to reach out to these members a week or two later offering them their same position back (albeit a new title) at nearly half the pay. This is nothing short of a bullying tactic designed to extort employees of their full wage.
Here in austin we had mass layoffs in tech and media plus tesla. Our unemployment went down. Layoffs cause people to leave the workforce nowadays the laid-off disappear to who knows were.
Unemployment is at a all time low because companies post job listings and not hire is at a all time high. Crime is at a all time low because not prosecuting criminals is at a all time high.
I can tell you it is coming. As a small business owner nearly every industry that I know people in are slowing down. We do utility construction and at the beginning of the year we were full bore ahead and now we don’t even have work to keep busy a full week.
@@johnnytsunami3558 If we don’t have a busy day we just complete the task at hand for the day then everyone goes home. I pay production and if the guys make less that $200/day production I pay the $200 for the day. Sometimes I don’t make much if any on really slow days but better to have employees when the work picks up vs not being able to do the work.
I left food science industry cause they didn’t wanna pay now I’m a manager at subway making 1100 a week If that doesn’t say how fucked America is then idk what is
I bet you work your butt off at Subway. Ive been in quite a few subways lately and they are a shitshow. There are usually only 1 or 2 people working and a massive line of folks paying w Reliacards or picking up for DD. BTW where did the $5 footloose go lol
The company I worked for did some restructuring of personnel in July 2023. About 1500 were laid off globally. Many positions eliminated, departments merged.
I called a meeting with my bosses due to feeling pressure from slow clients needs. Plan B looking at other options, however: they indicated no plans of layoffs. Right....
This AI is crazy. My company just got it. you can say "write me an email about ____" booom in 5 seconds it drafts an email. Or "make me a powerpoint sales presentation about selling _____" and in seconds you have a whole powerpoint. This will wipe out customer service and marketing jobs.
1,000 people was selected as a sample size for this survey is what I hear. A good sample size is the one that would represent the population in survey and I assume they had a good sampling metrics but still the size of the sample which is just thousand people representing the 70% of all the employees and considering the size of the worforce in America aroun 160 million employees is rather small therefore may not effectively represent the the whole population. I honestly did not hear much other than the percentges by age brackets expressed as generation this and that about the potential layoff. In my opinion this survey does not hold much water.
@@datamasterblaster Good point. The sample size seems small if they are trying to capture the whole US working population of 160million. In addition, it seems like the person telling us about the data is not an authority on this subject of employment anxiety. They needed a real expert on workplace anxiety.
My first car cost me $80 and I drove that car to college. My 2nd car was $200 that I drove from MI to OK to my first job. I look at the college costs and a basic car and I couldn't work my way through college on a minimum wage job now. The only degree's worth going into debt for are STEM degree's, for those that can't afford medical degree's etc. It's much much harder now to get through the hourglass.
I realized 20 years ago there is no way i could put myself thru college the way i did in the 80's. I worked ~88 hours a week during the summer & breaks & 20-30 during the semester. Doing that today, i could not pay for college. If i were 18, i would totally skip college. College is skills to be an employee, you dont want to be an employee in this economy. Self employment is the only way. Sure a few grads land the cush jobs with high pay, but most never will.
I feel you. I’m in my early 20s but the older I get the younger people look. When I was a kid soldiers and police officers looked so old but nowadays they look like teens with beards to me lol
Okay, I know that these “rumors” of layoffs are probably true. I was a “survivor” of two downsizings and several mergers. Honestly the last one broke me. No one tells you that you now have to do the work of all the people who are gone. It’s difficult to go to work, and some bullet proof VP tell you how you better not complain because people are waiting to take your job. When you do leave, it takes THREE people to replace you.
I’m going to move to Texas and work in my uncle’s small business. It’s killer here in Los Angeles trying to find jobs. The interview, the second interview, the zoom calls, all for them to say no. Small businesses are dying left and right here in California.
There are plenty of jobs , just not in professional white collar sectors. For example , there are tens of thousands of unemployed workers from tech industry chasing a small number of jobs.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024.
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
Angela Lynn Shilling 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.
11 major companies had laid off and closed up already. Plus those who moved jobs out of the country. I’m sure I missed a bunch, the government can really mess things up!!!
Bidenomics at work. SF bay area here - its bad. Over 100 applicants within a day of posting. Offered wages are also at least 20% lower than 2021. Biden and Newsom really did their toll
@@alexwyler4570 then you should be the man at the top. Problem solved. Work to make things better for yourself rather than hating and bringing others down
I'm sorry, did he say they surveyed 1000 people? That is nothing. Please stop bringing these overbold, arrogant children on the show. This guy doesn't even have a 1% of a 1% clue what he is talking about.
Most polls and surveys only do 1000 people or less. Political polls, voting polls, information surveys...... Its why any poll or survey is complete bs.
Kamala crash. My nicaraguan family will not be voting democrat anymore. We will be voting trump this year. I just want to be able to pay my mortgage. Gracias hermanos
@@engineking777 the job cuts are happening mostly due to high inflation rates that resulted from a law that trump implemented during his time, yes maybe the democrats could have done something about it but all parties are involved.
“You see here, young’uns…in my day, there were these things called ‘Jobs’. Back then, there were a lot of them. Them few of them. Now, practically none of them.”
If companies lay off tons of staff... Who do they think will consume their products and services? This is one of the factors causing record low domestic spending in China. That causes more businesses to fail. And so on.
This video is a bit too old to realize that bureau of labor statistics has finally decided to come clean after a year of criminally over reporting the job growth by about 818000 for last 1 year.
BLS data is useful, i frequently check it to see which way the wind is blowing. But it is always tainted with political agenda. None of what they report doesnt come with a fanangling to make the data point in the direction someone in an appointed position wants it to go.
They should be bracing for layoffs, trueflation ( discouraged, part time and gig underemployed accounted for) has true unemployment rate at 38% while current actual inflation is about 25%. That is 30% weaker economy than it was in 2020 only in 4 years, the market S&P is only being averaged out propped by market cap companies 6% of the market while the mid-sp IPOs are all down like 40% not to mention SMBs most of which are filing for bankruptcy in the next 18 months. Not good.
Not necessarily, as those who own homes outright and if housing market sustains avg sales without having major looses the then 40 percent of these homeowners transfer their wealth to the inheritance/kids family etc... could carry housing market for several years, as for stock market; Anything is possible as for past five years have been short of amazing...even in depression stock market shareholders and investors can still make money....as for the rest of us we have to get creative and seek out areas/regions of employment!
@@negativghostrdr I'm sure that's absolutely true for some people, region, age, industry all play a factor. Also we're seeing tons of articles about possible lay offs and people being worried about lay offs. I think that makes it hard for most of us to gauge our own situation.
@@fdm2155 You don't know for sure until you're on the street wondering how you'll pay your bills. The brain seeks potential threats like radar. That's why social media works so well. Your feed is often full of imminent threats that demand your immediate attention.
Actually the want ads for employment seem to have increased! The problem is the biden economy and COVID had price increases to the point a 60k a year employee can’t take that job. Bring prices down and let’s GO. Trump 2024!
To anyone who’s job hunting after being laid off, keep your head up. It’s easy to feel discouraged and feel less than, but try and focus on the positives in your life while aggressively searching for your next role. You aren’t defined by your career and your intrinsic value isn’t tied to your salary. With some perseverance you’ll reenter the workforce. First time I was laid off in 2013 it took 6 months to get another job. Received an offer last week after 7 months since my last layoff. It always helps to have a decently long runway in terms of finances. It won’t reduce the anxiousness you’ll feel when job hunting, but at least you won’t have the added stress of not making rent/mortgage. Cutting down on nonessential purchases isn’t fun but it’s paramount in being able to build up that rainy day fund. Keep doing your best and know that you are valuable!
Great advice. I went through many lay offs. When I would get discouraged, I would take any job, whether full time or part time. It looks better to be working, than not working. And, I usually found that I would get a better job offer when working.
You did not include those that are sef-employed because you cannot lay yourself off, but the market conditions may be such that although you employ yourself you may not get work because AI is replacing what you do. That leads to a high amount of employment anxiety. So you need to include those who are self-employed in the study and not give some half-baked retort on why you excluded 1099 workers.
Thise baby boomers is not that concern with lay offs because most of them have already been laid off or retired, who ever still remain in the jobs are mostly management levels.
It makes sense to have this mentality. People must save at least 1 full year emergency fund because the older and more experienced you are, the longer and harder it will be to find another job, and if you’re over 50, you’re basically unemployable and you need to get ready to hustle on your own.
I am multiracial, like most people on Earth if you go back far enough, so i used to always check "Biracial". I got interviews for jobs i had no chance of competing to win. I didnt realize it at the time, but has to be the only reason i made it to the 2nd round of interviews. DEI hire for the Win.
Huge! Been trying to trade on my own for a while now, but it isn’t going well. few weeks ago I lost about $70,000 in the trade. Can you please at least advise me on what to do?
Such a genuine personality!! He is really a good investment advisor. I was privileged to attend some of his seminars. That’s how I start my crypto investment.
My daughter’s company told them their division was being sold to another company. That same day she went home updated her resume and started applying to other companies. After 4 months she received 5 call back interviews from one company. She was hired & she gave her 2 weeks notice. Her pay is a bit larger & the benefits are better. She’s just waiting to see when AI will be implemented & what kind of impact it will have on her current position.
this time around, i feel like NOBODY wants to help each other out anymore. It doesn't matter if they are my ex-coworkers, my LinkedIn network, or recruiters. NOBODY! And this, on top of all of the fake ass ghost job postings is why I'm still looking for a job 6 months later. SO MUCH WORSE than the Covid layoffs
Got laid off one time, 8 years ago, couldn't find another job for 6 months, burned through most of my savings at that time, it's a scar for life, you will never trust an employer again once you go through this. The whole "seek support" narrative is bullcrap, no one will support you, no one will help you, no one will care, you are on your own in this life.
@onionpeeler2023 ***California E.D.D offer no help and are useless ***
California E.D.D. offers no help and is completely useless 😒
Correct. If you ain't wealthy, then you ain't healthy. No exceptions.
Last year I was fired on Thanksgiving for being 3 minutes late to work on an 80 mile commute, was stuck in traffic and let them know. Greedy,obese Gen x boss fired me via pink slip from his cowardly brown nosing supervisor because he wasn't man enough to tell me in person. I also negotiated for a 2 dollar an hour raise which he never implemented. When I brought it up he fired me for being "late"
@@Brad-pc3bi Sounds like the Falling Down movie.
As a millennial, I've always braced for job cuts. All I've known is: unemployment, recessions, corporate greed, inflation, price gouging, wars, divisive politics, drugs, high taxes - that's why I've never had, or will ever have confidence in this economy. The smartest thing to do is avoid being a consumer.
Well said
On average, the United States has experienced a recession every three and a quarter years since 1857. However, since the end of World War II, the average has been closer to every six and a half years, with 12 recessions in total. The most recent recession was in 2020, but it was relatively short.
And its not just about US only. I am from India and i have just experienced same things with worse conditions. Most of us have stopped buying homes, getting married or having kids recently like most other nationa
Yes Bro! Avoid being a Consumer.
@@rooster10121857 is Indian Sepoy Rebellion.
Federal Govt is like, “Look at all these jobs we’re creating! The economy is doing great!” Meanwhile, those same jobs are mostly ghost jobs, low/minimum wage jobs, and exploitative gig jobs. The govt is trying hard to hide the ball on this one
I think Biden is the only person in the US believes that the economy is doing great!
Shocking part is same thing is happening here in India and in china its worse
The job market is filled with unfulfilling, underpaying jobs these days. People before would be like- I want to be X, Y, Z, when I grow up. Now a days you’re either rich or your not (the majority are not), but expecting to get involved in a career that really fulfills you and those passions while earning a livable wage is near impossible.
BS, there is truly a shortage of workers. Yes there are fake and ghost job listings but I've never seen such low unemployment in my life.
@@suen5006 shortage of *unicorn workers with low expectations
Your job is not your life, so don't be too invested. As you can see, companies will not bat an eye and cut you loose.
The cost of living forces investment.
but money is very important. without it you can't really do anything
How is your job not your life when the money you make from it determines your future? Are you joking me?
Companies hate their employees. We are a needed inconvenience.
@@rickyayy once they got the robots and ai to their liking most of us will be as good as gone.
"Low unemployment " = fake job postings + real job postings offering salaries that would require one to hold 2 to 3 jobs to survive inflation.
AI will result in fake EVERYTHING! Everything someone values will be burried in a pile of AI generated fakes leading to scams.
If you ain't wealthy then you ain't healthy. End of story.
@@LaChanceuse they only tell you there are a lot of jobs. Never mention that they are all low wage jobs
unemployment has nothing to do with jobs available.
Unemployment numbers are based off of unemployment claims... Not job the number of available jobs.
They skipped Gen-X in the survey, literally 65 million people omitted 👀
We are always forgotten.
I feel bad for you guys. That's crazy
@@forthdimension686 Don't. We really don't care. Just having a laugh pointing it out.
Under the radar baby!
All gen X-ers own their own company!
I'm burned out on the feast / famine economy... this happens every 8-15 years.
It's pretty much always been that way.
Yes. Ever since the 1970's it's been a constant cycle. So, I don't blame people for thinking this way
Don't blame you this is hyper capitalism
except there's no feast
@@anuragchakraborty8766 I think he means the insane wealth gap. Feast/famine economy
Everyone knows "low unemployment" is a lie or just means having to work two part-time jobs while also doing deliveries and Uber. Everyone, no matter their age, should be concerned, even baby boomers because ageism is a real thing. Every generation is suffering right now.
Millennials and GenX need to worry about ageism. Many Boomers are retired or retiring if they are lucky.
except in heaven
@@Alexa-uk8lj id rather go to heaven and worry about this hell Earth school
Unemployment rate is way higher. The US government labor and statistics counts part-time jobs as full time, they don't factor in/ calculate people working two or more jobs, and they calculate people not looking for work.
Inflation is a lie too. Inflation is at 3.5 % but.........Here's how much gas, electricity, food, and rent have gone up since 2020 ¹ ²:
- *Food and Beverages*: Prices for food and beverages have increased by 22.22% since 2020, with an average inflation rate of 5.14% per year.
- *Gasoline*: Gasoline prices have fallen by 2.5% over the past 12 months, but have fluctuated over the past year.
- *Electricity*: The index for electricity has increased by 4.4% over the last 12 months.
- *Rent*: The index for rent has risen 0.3% over the month, and the shelter index has increased 5.2% over the last year, accounting for nearly seventy percent of the total 12-month increase in the all items less food and energy index.
Please note that prices can vary depending on location and other factors.
@@Alexa-uk8lj and God is my vindicator
Unemployment doesnt show job quality. Market has been in absolute dump for past two years
It has been a dump for nearly two decades! Ever since the GFC.
Where are getting your data about the market being in a dump? My investments and 401k have been doing very well. You talked about job quality of unemployment. It’s about the sectors of the economy that are hiring such as manufacturing that are being evaluated by the markets.
@@patrickm6012 Isn’t he talking about the job market, not the stock market?
@@wmpx34 that is not clear from his post. The job market has been booming both from numbers and personally speaking.. The data is clear on that. Regardless we need to understand what information and data he is looking at or is he relying on anecdotal information.
@@patrickm6012 I was reffering to the job market quality as stated by the original post. By that I mean that job listings contain sub “living wage” mostly minimum wage, lots of rare experience demanded for sub-standard wage. Why would anyone in an industry (the only qualified) leave to work for less doing the same job???
The majority of posting are not even direct hire, they are contract.
Then there are the unwritten rules -over 40 will not be considered, or just fishing for underrepresented minorities.
I know someone who is a pilot. He said recently his employer invited him and 60 other pilots to a zoom call. All of them were laid off.
Whaaaaat!😮
Spirit?
That's okay, they wouldn't want to be held liable for 747's that fall out of the sky for no reason whatsoever anyway. F Boeing.
@@chad2399 but I keep hearing from airlines that they don’t have enough pilots. What is happening??
that's the "pilot shortage" for you
Low unemployment? Have you guys even looked at what’s happening to full time jobs? 1 in 3 people have a side hustle? Insurance high, property taxes going up, credit card debt at the highest it’s ever been.
But yeah everything is doing great.
People having multiple jobs isn't a nee concept and has been going on for decades. People just have short memories. The high paying jobs are there and there is a huge skilled worker shortage in the US but as usual most the people complaining are hustling with their Uber and food delivery gig and surprised they aren't making enough. Get a skilled high paying job
@@WELVAS. skilled high paying jobs are producing the mass layoffs
@@Me-eb3wv Please explain
Hey, can't blame the Government- it is an election year and the current administration is not going to admit things aren't great. If the shoe is going to drop, it will mostly be after November election day
Biden administration considers gig workers, part-time jobs and second jobs as three full-time jobs to "reduce" the unemployment rates LOL!
Unemployment is much higher than they're saying
No it's not.
it's always been higher, for many years, 2x-3x
@@marryellenmonahan5585 To be classified as unemployed, a person must be without a job, currently available to work, and actively looking for work in the previous four weeks. Even when looking at it from that standpoint, the federal rate can be and often is drastically smaller than various municipalities across the nation, many of which have unemployment rates in the low double-digits range. What's truly scary to think about is the state agencies use the same metrics as the feds so the people who gave up on finding a job are not counted towards the total. Another critically important thing to consider are those individuals who are not factored into the rate i.e., people who are looking for work but don’t have a full-time job, working part-time but want full-time work, or who earn below the poverty line. That rate varies year-by-year and month-by-month but it tends to be seven to ten times higher than the official percentage.
@TravelTechie415 Look it up under Biden.We've had the lowest unemployment in years... look it up. Facts matter.
I agree. It’s the high interest rates. They hiked about 7 to 9 times. Even though they paused, they are still high putting people on financial situations.
The smartest move is to have no debt and very little expenses.
👏🏼👏🏼👏🏼
Duh, no one decides to have debt for nothing.
And don't be a slave of the system
People get comfortable and think they have stability when you get a decent job and boom after you get a good car and mortgage that’s when the layoffs happen.
A massive homeless population is brewing
So is a future prison population.
depression
been in a depression...hidden by drugs amd fake govt data!
@@eh7599 followed by a World War.
@@Tommy1977777 followed by the fall of civilization
@@williamalden8245 possibly. It depends largely on where wealth decides to move.
And oppression
40k truckers laid off last year i am one of them
I hope you have found other employment.
@@daniellebrooks7510 I hope you found a job. Best of luck 👍
In 🚛 profession also lay off?
@@daniellebrooks7510 who is doing the trucking now?
@@myday2704 Elon musk self driving trucks or migrants
They always skip the Gen Xers.
This headline is based on a survey. The title is misleading. Anyway, no job is secure. Always have a plan for your career and always have an exit plan. Don’t ever believe in company loyalty or the “we are a family” lie. Employee costs are a big expense for employers. That reason alone is why there is a bullseye on you.
Starting a new job on Monday, moving to a new company after tens. Not fearing layoff, just wanted get better benefits.
I was laid off because my company folded, which is not so bad since I don't have to defend myself in an interview over why I was laid off. However, my former colleagues are now my competitors. The economy is in the toilet and I am kicking myself for not preparing. This is by far the worst time to be alive in a generation, and it'll only get worse i fear. As bad as it is now, I thank god I do not have children to support. I can't imagine how bad it is for parents in this economy. Get ready for the birth rate to plummet.
It has been worse, beleive me. What has never been worse is global debt/deficit and an interdependent global economy.
People don’t have jobs, can’t find any affordable homes and interest rates have skyrocketed. Wealthy politicians are totally disconnected from
Masses.
@@realnapster1522
And they don’t care because none of this affects them!
Stop saying low unemployment Reality is There are so many.
Americans not having a job nowadays
@@jordanfgfox7237 there’s a ton of jobs out there lol.
There are lots of jobs.. they are just being pickier and going with older employees now - more reliable and knowledgeable and harder working
@Ampventures explain why 4/10 companies are fake job posting and business stores and restaurants are shutting down? Mabe because companies are trying to save money that they can't afford
There are plenty of jobs your just lazy like my neighbor who cried he couldn't find a job so I made some calls and had him a job that weekend but he failed to show up to work, people are just pathetic and don't want to work anymore.
@@rooster1012 I know the type they'll blame everything but themselves.
Did you forget Gen X or they just don't count? Just the cream of the cookie...
we are invisible..
@@HeadStronger-HS Stealth mood.
@@wanderingweh405 middle child syndrome I suppose
@@jorgemiguelmilano1535 just an observation. introverted only child actually
we Gen X do not care. We have been adulting since elementary school. We drove in cars without seatbelts. We lay in the sun all day long covered in baby oil.😉
My firm sells tax services to all of these business and I can for 1000 percent sure say we will see layoffs increase. Every industry is struggling and sales are dying. Be ready for the beginning of Q4
What takes me is all these businesses wasting money expanding, expanding, expanding never mind the economy, Then you here about all these closings. If you work a cashier job, many of these places have more registers than cashiers. They sure do know how to waste profits for as greedy as they are for them.
@amerie36 believe it or not, most of these companies business models basis your net worth as an employee. Example in retail, the average employee is worth $21,315.50 per year. Based on a 49.5 weeks of working. Then times that by x amount of employees. Then they will go into the CRM and see when they are most profitable and increase or decrees staffing as needed. For our software clients. The average employee is worth $685,500 but of they are on track to do 85 percent or less you get terminated. Then that load gets added to other employees.
When you have an economic system that has every incentive to reduce hiring humans and try to innovate tech to replace humans as a labor force, we'll see high unemployment, deaths of despair, and break down of society. I reckon the real unemployment rate is probably at least 50%, where majority are working *multiple* part-time, low paying jobs trying to eke out bare living standards.
Did you paste in this comment typed by Chat GPT? 😂
Did you paste in that 👆 comment from Chat GPT? 😂
Job instability makes people reluctant to have child. Once a renewable energy fully replaces fossil fuels, AI will take most human jobs
Why is it that Gen X is always forgotten about when surveying Boomers, Gen X, Millennials, Gen Z
Because Gen X is the first sandbagging generation followed by M and Z!!! Should be happy for that !!!😅😅😅
Gen X has been slouched under a tree, smoking a cigarette, watching these fools fight over the crap we gave up on decades ago. Forgotten is how we like it.
Because there's relatively few of us, so we don't especially concern economists and politicians.
My husband and i are Gen x. We've experienced several job losses over the decades. 2008 was scary because we had an 18 month old and then i gave birth to twins and my husbands entire department shut down. My husband had tears wondering how he was going to take care of me and all these babies. I vowed at that moment as soon as i recovered from my caection surgery, i was going to work like crazy so that i never had to see him that fearful again. I reached that goal and now we travel the US, Canada, and Asia fulltime with our 3 teens without much worry.
What job did you do
Kudos to you.
@@Me-eb3wv I became a realtor and within 3 years became the top salesperson in my company and in the top 1% nationwide. I made a bunch of money, paid off the cars, the house, saved for our retirement, and saved college money for my three kids then retired during Covid and have been traveling full-time for 3 1/2 years. Now I'm a traveling homeschool mom
I paid off my home years ago and have no consumer debt. I tired of being job dependent.
But you still have property taxes, utilities, groceries, etc. you still need income.
@@baklava6138 not at the level that other people do. My property taxes are minimal compared to other. No I'm not job dependent.
Been unemployed for over a year. Applied to hundreds of jobs. The only available ones? Ones no one wants to do. And? The only help is “training” on how to get a job by people who already have one. The fact that unemployment is the lowest it’s been? I think that’s a farce. It doesn’t account for people who ran out of unemployment benefits or the under-employed trying to find a job that pays what it should. Hint: people want a job. They don’t want to be told, or given classes or “training” on how to find one. The best advice? Find a way to save as much as you can and hold on for the ride.
Exaclty many people applied for jobs and send many cv and nothing.
Nobody cares what GenX thinks. We know. We're just the ones holding it all together right now. Oh well. Whatever. Nevermind.
I know right. I’m a millennial and am sick and tired of all the crap genx are getting.
Right? I am a millennial and I look up to gen X. Not sure why gen X is constantly ignored. Most of you have teenage kids and their college tuition to worry about. I am sure you are feeling layoff anxiety just as much as us.
and will be the ones to repair it, because everyone else didn't take time to learn
Every Generation has carried their own Mudd. So why should it be different now. Lol.
@@stevelopez372wow. That's everything wrong with our world boiled down to a sentence.
I'd be impressed if it wasn't such a repugnant thought.
We’ve been bracing for job cuts for literally two straight years; whens this gonna end
When no one has a job except people at the top!
I have seen some employers (in this example Pepsi Co- frito Lays) suddenly without notice layoff entire teams in a zoom call only to reach out to these members a week or two later offering them their same position back (albeit a new title) at nearly half the pay.
This is nothing short of a bullying tactic designed to extort employees of their full wage.
Here in austin we had mass layoffs in tech and media plus tesla. Our unemployment went down. Layoffs cause people to leave the workforce nowadays the laid-off disappear to who knows were.
Unemployment is at a all time low because companies post job listings and not hire is at a all time high. Crime is at a all time low because not prosecuting criminals is at a all time high.
I can tell you it is coming. As a small business owner nearly every industry that I know people in are slowing down. We do utility construction and at the beginning of the year we were full bore ahead and now we don’t even have work to keep busy a full week.
@@Itsoperated so true!
@@Itsoperated do you guys get sent home early?
@@johnnytsunami3558 If we don’t have a busy day we just complete the task at hand for the day then everyone goes home. I pay production and if the guys make less that $200/day production I pay the $200 for the day. Sometimes I don’t make much if any on really slow days but better to have employees when the work picks up vs not being able to do the work.
I left food science industry cause they didn’t wanna pay now I’m a manager at subway making 1100 a week
If that doesn’t say how fucked America is then idk what is
I bet you work your butt off at Subway. Ive been in quite a few subways lately and they are a shitshow. There are usually only 1 or 2 people working and a massive line of folks paying w Reliacards or picking up for DD. BTW where did the $5 footloose go lol
Jesus! That means you only make roughly just over 30K a year. 40K if you are super duper LUCKY.
Sorry to hear that bro
Just give us the UBI 🤦🏻♂️ we know all the lower class is gonna lose are jobs to AI. It’s inevitable
UBI is able to pay for my mortgage? i don'. think so. Civil war will happen first.
1000 people is a bad sample size for a country with 300million + population. What a joke.
What it's come down to is, "hope for the best, but prepare for the worst." Bottom line. Almost nobody is totally "immune."
The company I worked for did some restructuring of personnel in July 2023. About 1500 were laid off globally. Many positions eliminated, departments merged.
Dont have children unless you want them to become a corporate slave or have enough saved to leave a trust fund or a business that employs other slaves
Sad and true 👆
I called a meeting with my bosses due to feeling pressure from slow clients needs. Plan B looking at other options, however: they indicated no plans of layoffs. Right....
and for those already layed off the job market is tougher.
high tech is kinda backbone of US economy. there're consequences of those big job cuts by high tech companies in last year.
This AI is crazy. My company just got it. you can say "write me an email about ____" booom in 5 seconds it drafts an email. Or "make me a powerpoint sales presentation about selling _____" and in seconds you have a whole powerpoint. This will wipe out customer service and marketing jobs.
Similar you can create excel tables very easy.
1,000 people was selected as a sample size for this survey is what I hear. A good sample size is the one that would represent the population in survey and I assume they had a good sampling metrics but still the size of the sample which is just thousand people representing the 70% of all the employees and considering the size of the worforce in America aroun 160 million employees is rather small therefore may not effectively represent the the whole population. I honestly did not hear much other than the percentges by age brackets expressed as generation this and that about the potential layoff. In my opinion this survey does not hold much water.
100% agree
@@datamasterblaster Good point. The sample size seems small if they are trying to capture the whole US working population of 160million. In addition, it seems like the person telling us about the data is not an authority on this subject of employment anxiety. They needed a real expert on workplace anxiety.
@@errolwillis5737 Exactly
Everyone at the table while Gen X is outside drinking from the hose and not comin in til dark.
My first car cost me $80 and I drove that car to college. My 2nd car was $200 that I drove from MI to OK to my first job. I look at the college costs and a basic car and I couldn't work my way through college on a minimum wage job now. The only degree's worth going into debt for are STEM degree's, for those that can't afford medical degree's etc. It's much much harder now to get through the hourglass.
I realized 20 years ago there is no way i could put myself thru college the way i did in the 80's. I worked ~88 hours a week during the summer & breaks & 20-30 during the semester. Doing that today, i could not pay for college. If i were 18, i would totally skip college. College is skills to be an employee, you dont want to be an employee in this economy. Self employment is the only way. Sure a few grads land the cush jobs with high pay, but most never will.
I must be getting old because these reporters look like young kids.
I feel you. I’m in my early 20s but the older I get the younger people look. When I was a kid soldiers and police officers looked so old but nowadays they look like teens with beards to me lol
Low unemployment is such a lie. These jobs are people who went BACK to work after the pandemic
Biden administration considers gig workers, part-time jobs and second jobs as three full-time jobs to "reduce" the unemployment rates LOL!
Many companies are already doing small cut backs, it has not gotten serious yet.
Okay, I know that these “rumors” of layoffs are probably true. I was a “survivor” of two downsizings and several mergers. Honestly the last one broke me. No one tells you that you now have to do the work of all the people who are gone. It’s difficult to go to work, and some bullet proof VP tell you how you better not complain because people are waiting to take your job. When you do leave, it takes THREE people to replace you.
Uber, Lyft and Door dash aren’t “real” jobs FYI 😂
Exaclty and delivery jobs for others apps.
I’m going to move to Texas and work in my uncle’s small business. It’s killer here in Los Angeles trying to find jobs. The interview, the second interview, the zoom calls, all for them to say no. Small businesses are dying left and right here in California.
Hey Boss, can I write a better A.I code to replace more people including myself?
Of course the cocky boomers feel safe. Boomers were all they let go in our first round. They cost the most. No one immune to corporate greed.
2008 2.0 on steroids. Electric Bugaloo
But Democrats say we're in the midst of the best economy in history!! Lots of jobs and lots of money!
There are plenty of jobs , just not in professional white collar sectors. For example , there are tens of thousands of unemployed workers from tech industry chasing a small number of jobs.
@@mrpartstheres not tons of jobs lol most people arent looking for tech jobs
no growth results in job cuts -- a company that isn't growing will quickly engage in job cuts
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024.
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Angela Lynn Shilling 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.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
Embracing for layoffs? Who even has a good job in this market??
11 major companies had laid off and closed up already. Plus those who moved jobs out of the country. I’m sure I missed a bunch, the government can really mess things up!!!
Never rely on one source of income.
When government needs money, it prints more money. When American people need money, the government raises taxes.
Once again, the real story is in the comments section
I can't lay myself off!?!?
Don't tell me what I can and cannot do🃏🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
🎯 go give yourself a promotion, jack
@@bsmba1347 Take a lunch Jack🃏
Thanks parents and grandparents for completely blowing it for us. Rode the elevator straight to the top and turned off the power.
I' don't think it was their doing.
Bidenomics at work. SF bay area here - its bad. Over 100 applicants within a day of posting. Offered wages are also at least 20% lower than 2021. Biden and Newsom really did their toll
Biden didn't create AI. AI will be to white color jobs what robotics did to auto factory blue collar workers .
@@alexwyler4570 then you should be the man at the top. Problem solved. Work to make things better for yourself rather than hating and bringing others down
I'm sorry, did he say they surveyed 1000 people? That is nothing. Please stop bringing these overbold, arrogant children on the show. This guy doesn't even have a 1% of a 1% clue what he is talking about.
Most polls and surveys only do 1000 people or less. Political polls, voting polls, information surveys...... Its why any poll or survey is complete bs.
Stop being so ignorant. Obviously he has a clue otherwise they wouldn't even have brought him on.
@@alexlopez5800they brought him on for the shock value.
real is 9.9/10!
@@alexlopez5800 HAHAHAHHA! That's the funniest comment I have read in a long time. Thank you for that. I needed a good, strong belly laugh.
Kamala crash. My nicaraguan family will not be voting democrat anymore. We will be voting trump this year. I just want to be able to pay my mortgage. Gracias hermanos
@@engineking777 the job cuts are happening mostly due to high inflation rates that resulted from a law that trump implemented during his time, yes maybe the democrats could have done something about it but all parties are involved.
@@filmonyoha7134 Democrats lost my vote
“You see here, young’uns…in my day, there were these things called ‘Jobs’. Back then, there were a lot of them. Them few of them. Now, practically none of them.”
In my case, I think company is replacing us with off shore hires, because cheaper to hire / outsource foreigners by the dozen.
People actually have money leftover to save???? I haven't been able to save anything since pre-2020.
Employers are looking for ways to force you out instead of laying you off. It’s so they don’t have to pay for unemployment benefits.
If companies lay off tons of staff... Who do they think will consume their products and services? This is one of the factors causing record low domestic spending in China. That causes more businesses to fail. And so on.
This video is a bit too old to realize that bureau of labor statistics has finally decided to come clean after a year of criminally over reporting the job growth by about 818000 for last 1 year.
BLS data is useful, i frequently check it to see which way the wind is blowing. But it is always tainted with political agenda. None of what they report doesnt come with a fanangling to make the data point in the direction someone in an appointed position wants it to go.
They should be bracing for layoffs, trueflation ( discouraged, part time and gig underemployed accounted for) has true unemployment rate at 38% while current actual inflation is about 25%. That is 30% weaker economy than it was in 2020 only in 4 years, the market S&P is only being averaged out propped by market cap companies 6% of the market while the mid-sp IPOs are all down like 40% not to mention SMBs most of which are filing for bankruptcy in the next 18 months. Not good.
1000 people is too small of a sample to make such a sweeping claim. Any serious market research analyst will tell you the same.
Not suprising, though I do wonder why 70% of companies aren't bracing for customer "cuts" too.
70%? Wouldn't that me a depression?
Not necessarily, as those who own homes outright and if housing market sustains avg sales without having major looses the then 40 percent of these homeowners transfer their wealth to the inheritance/kids family etc... could carry housing market for several years, as for stock market; Anything is possible as for past five years have been short of amazing...even in depression stock market shareholders and investors can still make money....as for the rest of us we have to get creative and seek out areas/regions of employment!
Findings indicate people are worried. Actual number impacted is another matter.
@@fdm2155 ...but they're worried because they see it happening to a lot of people they know.
@@negativghostrdr I'm sure that's absolutely true for some people, region, age, industry all play a factor. Also we're seeing tons of articles about possible lay offs and people being worried about lay offs. I think that makes it hard for most of us to gauge our own situation.
@@fdm2155 You don't know for sure until you're on the street wondering how you'll pay your bills. The brain seeks potential threats like radar. That's why social media works so well. Your feed is often full of imminent threats that demand your immediate attention.
Actually the want ads for employment seem to have increased! The problem is the biden economy and COVID had price increases to the point a 60k a year employee can’t take that job. Bring prices down and let’s GO. Trump 2024!
The want ads that arent actually hiring? Yeah, those lol
Stockpile essentials, get out of debt and save as much money as possible. The worst is yet to come I’m afraid
To anyone who’s job hunting after being laid off, keep your head up. It’s easy to feel discouraged and feel less than, but try and focus on the positives in your life while aggressively searching for your next role. You aren’t defined by your career and your intrinsic value isn’t tied to your salary. With some perseverance you’ll reenter the workforce. First time I was laid off in 2013 it took 6 months to get another job. Received an offer last week after 7 months since my last layoff. It always helps to have a decently long runway in terms of finances. It won’t reduce the anxiousness you’ll feel when job hunting, but at least you won’t have the added stress of not making rent/mortgage. Cutting down on nonessential purchases isn’t fun but it’s paramount in being able to build up that rainy day fund. Keep doing your best and know that you are valuable!
Great advice. I went through many lay offs. When I would get discouraged, I would take any job, whether full time or part time. It looks better to be working, than not working. And, I usually found that I would get a better job offer when working.
Gen X left off of the board again! LOL, so proud of my X genners. We did it! We're off the map of being noticed and caring.
You did not include those that are sef-employed because you cannot lay yourself off, but the market conditions may be such that although you employ yourself you may not get work because AI is replacing what you do. That leads to a high amount of employment anxiety. So you need to include those who are self-employed in the study and not give some half-baked retort on why you excluded 1099 workers.
Thise baby boomers is not that concern with lay offs because most of them have already been laid off or retired, who ever still remain in the jobs are mostly management levels.
It makes sense to have this mentality. People must save at least 1 full year emergency fund because the older and more experienced you are, the longer and harder it will be to find another job, and if you’re over 50, you’re basically unemployable and you need to get ready to hustle on your own.
It doesn't look like Matt Brannon interviewed from an office.
Don't trust remote/telecommuting journalists! 😂
I got a job because I put a checkmark that I was biracial half black. It works.
Not a bad idea lol
@@ArenaRat-xd8fudon’t forget to say you’re gay and Jewish. That should seal the deal 💯
@@Me-eb3wv might as well
I am multiracial, like most people on Earth if you go back far enough, so i used to always check "Biracial". I got interviews for jobs i had no chance of competing to win. I didnt realize it at the time, but has to be the only reason i made it to the 2nd round of interviews. DEI hire for the Win.
There will be a massive shortage in blue collar workers. AI can't lay bricks, lay electrical lines, or rebuild an engine.
Why? Biden/Harris and Democrats, that's why.
I’m favoured financially with Bitcoin ETFs,Thank you buddy.$63,700 biweekly profit regardless of how bad it gets on the economy
Huge! Been trying to trade on my own for a while now, but it isn’t going well. few weeks ago I lost about $70,000 in the trade. Can you please at least advise me on what to do?
Well It's all thanks to Robert Marion
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I think that number is probably closer to 95%+.
Govt. just changes how they count. This has been grim for some time now.
Can we move all the redundant tech folks over to agriculture? It's not sexy, but their potato chips and fancy coffee doesn't create itself
My daughter’s company told them their division was being sold to another company. That same day she went home updated her resume and started applying to other companies. After 4 months she received 5 call back interviews from one company. She was hired & she gave her 2 weeks notice. Her pay is a bit larger & the benefits are better. She’s just waiting to see when AI will be implemented & what kind of impact it will have on her current position.
this time around, i feel like NOBODY wants to help each other out anymore. It doesn't matter if they are my ex-coworkers, my LinkedIn network, or recruiters. NOBODY! And this, on top of all of the fake ass ghost job postings is why I'm still looking for a job 6 months later. SO MUCH WORSE than the Covid layoffs
Nobody seems to care about Gen X. Sigh
We are always forgotten
This is what tech has been going through for the last 2 years.
Why? According to Dems Economic are very very good??? Who are lying here???