Discussion
US economy sheds 92,000 jobs in February in sharp slide
alkyon: Already discussed here: https://news.ycombinator.com/item?id=47275035
wood_spirit: Discussion yesterday https://news.ycombinator.com/item?id=47275035
WalterGR: https://news.ycombinator.com/item?id=47275035US economy unexpectedly sheds 92k jobs in February (bbc.com)524 points | 23 hours ago | 733 comments
chuckadams: "Sheds". Like hair or skin flakes, completely superfluous and unnecessary things. This is how people and their livelihoods figure into The Dismal Science, even though you don't have an economy when people don't have money to spend. But I guess one more billionaire is worth several thousand of us, no?
totetsu: Already told about this already being discussed here: https://news.ycombinator.com/item?id=47287309
9dev: In fact, we're winning so much that we really don't know what to do about it. People are asking me, please, please, please, Mr. President, we're winning too much. We can't take it anymore. We're not used to winning in our country until you came along, we're just always losing. But now we're winning too much. And I say, no, no, no, you're going to win again. You're going to win big. You're going to win bigger than ever.
rayiner: The ungameable statistic is the native born labor force participation rate, which also ticked down: https://fred.stlouisfed.org/series/LNU01373413.Unfortunately, that figure never recovered from the pandemic.
onlyrealcuzzo: As the population continues to age, and more people are 62+, this is expected...
djohnston: I don’t think that’s telling the whole story.Immigration has always been used as leverage against the native workers, and now it’s more efficiently corrupt than ever.
idiotsecant: Look at that trajectory one more time and tell me how 'expected' it is.The first stages of a worldwide recession is what it looks like to me.
rafaelmn: Is this working age population or all ages ?
nobodyandproud: I’m naturalized—very, very long term—but I couldn’t find any stats that track by US citizens.I suppose that makes me a a second-class citizen?
46493168: Under this administration, you are. Be prepared to have your citizenship revoked. I am not trying to scare you, or be flippant or cynical. I truly believe we are witnessing the rise of ultraxenophobic fascism.
bicx: It means that if we cut off or discourage immigration, we can’t count on non-native citizens to continue boosting our numbers. So, we have to look at the native-born stats to get an idea of our future.
dgellow: I understand the US economy is experiencing some… troubled times. However, 4.4% unemployment rate, while that’s an increase, sounds really low compared to other countries. Am I missing something?
mrtksn: US economy is robust, the problem is that people don’t have the same safety nets when out of work.No job means no healthcare or reduced coverage for many people for example so it is a bigger deal to have unemployment.
alephnerd: "The fall was led by a drop in healthcare employment following widespread strikes by medical workers in New York, California and Hawaii"
throwawaysleep: It is a historical range of working age, so it includes people who are 16 and over and everyone until the die of old age.
sbochins: You’re absolutely right. The labor market is still quite strong. All the doom and gloom from places like HN is coming from the many layoff announcements and fear of AI.
Madmallard: Or the reality, which is that the numbers are royally fudged and the statistic is a farce.
alephnerd: It's not that numbers are a farce but different industry segments are doing better or worse than other.HN being a tech forum that now increasingly skews East and Midwest (heck, it's not even 7am yet in the West) means most HNers are impacted by a slowdown in tech hiring, which exacerbates the sense of pessimism.
bojan: You have one right fewer than natively born Americans - you can't become the President. Make of that what you will.
46493168: Used by whom?
