Indeed.com Shocking Report: 70% Collapse In Jobs

When we discuss economic matters on YouTube, whether it's housing, stocks, or data overall, what really grabs our attention is how it impacts our daily lives. Amidst all these discussions, there's a crucial focal point that stands out: jobs. The employment rate isn't just another statistic; it's the heartbeat of every household, shaping lives from coast to coast. It's the one data point that truly resonates with everyday Americans, affecting their well-being and livelihoods.

And here's the thing: since around 2015, the employment rate in the United States has lingered below 5%. Except for that one-time spike in April 2020, the job market has exhibited remarkable strength, unlike any other historical period. According to Federal Reserve data, the unemployment rate has been on an undefeated streak for nearly 8 years. Such a robust labor market is unprecedented; it's not something you'll find on any ordinary chart. The closest comparison we can draw is to the period from 1965 to 1970 when unemployment dipped to levels akin to what we're experiencing today, in the 3s. Interestingly, from 1974 to practically 1997, a period spanning roughly 23 years, the unemployment rate never dropped below 5%, underscoring the rarity of the current situation.

Now many are saying we are headed to something similar, and that the job market is essentially collapsing following nearly a decade-long winning steak.

Revenue Interview

[harmonizedigital.]

and most of the job postings are not for real jobs. They are just gathering data and building a pipeline.

[ShaneLochlannBlack]

Endless data showing job postings are collapsing, especially in tech: You know, the industry where trillion-dollar companies are constantly crying because they can't find qualified workers? All that followed by "everything's fine. Learn to code." Unreal.

[DarrenRivey]

When I post a job to hire my nephew it’s to satisfy HR guidelines. 200 or so people apply thinking they have a chance at the job.

[andyhughes]

Since 2022, over 500, 000 high paying tech jobs have been eliminated.

The only job openings today are low-paying service jobs.

Not enough to pay for basic needs, much less buying a house.

[thomaslthomas]

So many working multiple jobs. Also skewing job numbers.

[theangryhobos]

I told a recruiter I had an interview just before our call and she congratulated me because its so bad out there.

[williammarcus]

the unemployment rate today counts part time jobs as one job, so someone who hold 3 part time jobs is counted a having 3 full time jobs... JUST BOGUS

[mylesgray]

Stagflation. Nothing like high oil prices during a weakening economy, just like 2008.

[williambixby]

This is the straw that will break the camels back for the housing market. When the tech market falls apart and everyone that’s working remotely can’t make their payments the foreclosures will start rolling in, especially in places like Texas and Tennessee.

[AnthonyDeArmas]

Need to filter out part time jobs. They shouldn't count towards labor market metrics.

[DavidM-hc]

Many of the job postings that are real are not for new positions, but to replace some of the bottom of the barrel people that they had to hire during the labor shortage. Our company is doing that now. Replacing the low performance employees with quality people that have recently been laid off. No new jobs, just replacements.

[MtuckerGoBlue]

Hiring comes at a cost and involves a degree of risk. In a market where costs are sharply increasing and expenses are tough to budget, no one wants to hire. The painful side of this is that those who are employed are working harder than ever while losing ground against inflation.

[tehpanda]

Unemployment rate is propaganda. Show me the employment rate being anything but decreasing and I will eat my hat.

[oloplyflapdar]

Alot of tech companies were based on debt, so the raising interest rates have been nuking their business model. Also caused the Silicon Valley Bank crisis.

[jeffreykalb]

Using the same metrics used in 1980, unemployment would be 18%.

[albongo]

A lot of jobs don’t pay enough to maintain anything. Employers still pretend to say, it’s tough to pay. Well it’s hard to live buddy

[Hawlkeye-ep]

I know for a fact a huge amount of posting are not real, my last co posts 300 high paying openings that do not exist. Since I still know 2 people working there. I think its much much worse than this video talks about.

[paul-young]

The job market is dismal along with fake jobs. I just applied to a permanent position with a bank. Upon following up, I was told position was cancelled. I applied to another permanent position and was told I'd hear an answer in two weeks. I did not and so followed up after that, but received no response to my follow up email asking for an update or any positive forward movement. Nothing. No response.

I've never seen it this bad. I don't believe unemployment rate is at all time low rate. I believe the labor participation pool is at all time low. I believe this despite any charts or graphs anyone may like to show.

I suppose if you stop counting peoole the numbers look good.

[benton-benton]

Tech is oversaturated. Tradespeople is what's needed.

[lauracoutinho]

I really wish people would stop blindly reciting the "unemployment rates" as if that's how many people out there are seeking work. That data only counts those actively on unemployment benefits of some kind! It doesn't count the people whose benefits ran out while they were still looking, doesn't count anyone who got a part time job while they look for real work. It doesn't count the people who are under emploied, taking the first shit job they were offered that doesn't actually pay them enough to live on while they look for a real job. It doesn't count gig workers, people who quit or were fired within the first 6 months so don't qualify for unemployment. It doesn't count recent grads who just entered the job market, or who entered it LAST YEAR and are still looking.

It's a bullshit statistic that tells no truths at all about the state of the economy and population.