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Layoffs reach highest level since 2020, new data shows. Here's why companies are cutting jobs. (www.cbsnews.com)

submitted 1 week ago by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml

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[–] Awillia91@lemmygrad.ml 10 points 6 days ago (2 children)

Although layoffs have jumped, the nation's unemployment rate remains historically low at 4.2% and hiring has remained steady. The Department of Labor is set to release its June employment report on Thursday, with economists forecasting payroll gains of roughly 115,000 in May, according to financial data provider FactSet.

I literally don’t even know how to interpret things like this at this point. I hear that everything is falling apart and it’s extremely difficult to find a job (which matches my experience) and that jobs I general are getting worse (also matches my experience), and then I read that unemployment is “historically low” and companies are hiring. Maybe it’s true by the numbers as we measure them, but then we need a new way to measure these things because the numbers are not matching the reality.

[–] yogthos@lemmygrad.ml 16 points 6 days ago

It's cause they cook the number and don't define employment as a job that pays a living wage. https://www.lisep.org/tru

[–] PoY@lemmygrad.ml 5 points 5 days ago

Seriously.. a few years ago I had recruiters constantly reaching out about jobs. Now I've applied to 7 or 8 jobs in the past week and haven't heard a damn thing from any of them and I only apply to jobs that I fit very well. LinkedIn always shows something like 800 people have applied already, usually within the first 2 days of a job being posted.