Holy Sh*t! Jobs Have Completely Stopped Hiring

Jay Powell again reiterated that he believes the economy is "on solid footing." The most recent data on the labor market shows he's either wrong or lying. There is no equivocating these latest estimates in which hiring has collapsed. As if that wasn't enough, it was backed up by other sources. All of it pointing to summertime being the time for recession. It's all about hiring, and that has all but disappeared.

Eurodollar University's Money & Macro Analysis

Bloomberg Powell Says Fed Not in a Hurry, Will Lower Rates ‘Over Time’

Bloomberg Fed’s Goolsbee Sees ‘Many More’ Rate Cuts Over the Next Year

CNN A sign of strength in the labor market: Job openings increased in August

ISM September 2024 Manufacturing ISM Report On Business

[jayruiz]

It should be illegal to have a job opening with no intent or hire

[cetriyasArtnComicsChannel]

Lack of hiring proves that most of these job postings were fake or ghost or scams

[enigma-_-sauce]

These days "job creation" stands for creating fake, nonexistent, bogus ghost jobs.

[LeahDLit]

In the 50's my Dad worked a modest job, Mom stayed at home and raised the kids, and they lived a nice middle class lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Soon the kids and family dog will need to work to keep this household going. It's the destruction of the American dream right before our eyes.

[leondonald]

The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.

[AJourneyOfYourSoul]

The job market right now is terrible. Lots of “openings”, but hardly any hiring.

[MarkShinnick]

USA quality of life drastically lower this past 15 years.

[DC-Austin]

I was a tech worker making 200k a year before getting laid off in 2023. Now I’m an armed guard making $22 an hour working night shift, struggling to pay the mortgage.

[TheGuruStud]

My department has several openings, but they will never hire. There's no money, b/c management blows it all and revenue is crashing.
This is almost universal across the country. They're completely fake openings.

[thespacecowboy]

So 1) Nobody can get a job 2) Nobody has savings 3) Nobody can afford a home 4) Poverty is skyrocketing especially for children... y'all just ganna keep doing this? What will it take? If your own hungry kids isn't enough for you to revolt or strike then what is?

[gavigaviman]

The game they are playing is “The economy is dying, let’s destroy it before it dies”.

[jordywales]

A company just ghosted me during a zoom interview. It’s that bad.

[gabrielmartinez]

There are no jobs because they all been offshored. Let’s call it what it is Greed-recession 😂

[gregorysagegreene]

Volkswagen in Germany and Stellantis in the USA just said it: "The market is not there anymore."
- And that's the result of an 'economy' based on
*take, take, take.*

[tomolszewski]

Funny how everyday you hear of more lay offs but unemployment doesn't show these huge jobless numbers.

[SpaceTrump]

It took me a year of constantly applying for jobs every day to find anything.
That is how I know the economy is shambles.

[Brittanicus-yv]

1800 - "Pay them so little to keep them poor." 1985 - " Instead of paying higher real wages, give them credit cards." 1990- "Outsource and terminate." 2000 - "Automate and terminate." 2024 - "Fire everybody..."A-I is ready."

[nicolasbenson]

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

[kickingfatality]

I work for one of the largest Equipment Rental Companies in North America and I work out of a North Eastern U.S office.. They are laying off like crazy. Just had a round of layoffs recently and so far its mainly operations and admin and sales staff. I've never seen layoffs like this ever in this industry. Its indiscriminate and brutal and cold. Some seriously useful people are being told they are done. There are whole departments in chaos because the people they laid off were key people to their daily operations and no one knows what is going to happen. I'm watching them walk out some of our best talent and leaving useless under performing people in place. It just doesn't make sense. They think this will help the company. It wont. These beans counters have no idea how much they have just damaged our ability to generate the revenue they are crying about. I'm already getting my resume redone. Even when this is over i can;t stay with a company that acts like this.

[toddpacker]

Show me a company that's hiring and I'll show you a job listing that will never be filled.