Why Companies Are Suddenly Stopping All Hiring (Is This the New Normal?)

Demand for workers tumbled, employers wouldn't hire, employees quit quitting, and now more than a hint of layoffs. All of that for September, from the same month as the magic payroll report. Plus reaction to the real situation from energy, metals, and what's happening with interest rates from a foreign perspective.

Eurodollar University's Money & Macro Analysis

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

CNN Job openings fall to pre-pandemic levels as US labor market continues to cool down

[moist_owl]

When will they learn that nobody can buy thier products if nobody has any money 🤨

[IAmNotMitch]

Just got laid off yesterday. Shitty feeling. Work for a defense contractor too. 25% reduction in engineering at our site.

[NashvillePastaman]

Nissan just had a big round of layoffs….. didn’t make the news….. because it came in the form of “buyouts”- lots of 20 year veterans and their staff- gone!

[morecents]

I've noticed plenty of tech jobs claiming to hire domestically but then opening the same positions in India. I've noticed this at both the Big Tech firms and smaller firms

[TaylorCks]

I was just shopping at walmart 10/29 and noticed the Halloween decorations on sale 50% and 25%. What was unusual was all the shelves were full. Walmart either way overbought or people are just not buying. I was surprised at the amount of stock left.

[Grace.h-to]

Unemployment is an odd concept in an economy where for so many folks it’s necessary to work multiple jobs just to get by. Loose one and you’re counted as employed but suddenly don’t have enough money to live.

[gman]

I work in civil government.
My operation was looking to fill 20+ voids in needed positions to fill since Jan 2024.
Last week, the heads decided that there is now a hiring freeze until at least Spring 2025. WTF?

[orlof]

No employees = no labor costs = maximum profit

STONKS

[mikedavison]

I call BS on job openings numbers. It has no bearing on a real job offer. For example there could be thousands of job openings where they want high education/ many years experience but are offering way way way less than a reasonable wage so are they seriously going to be filled. For unskilled jobs paying very very low people have a choice- don't take the crap pay and go bankrupt in 6 months, or take the job and work very hard only to just extend your bankruptcy by a few months.

[brandonkeller]

I just recently was being set up for an offer for a job that involves DoD contracts, but then they put the position on hold. I know someone at the company and they told me i was going to be hired and they will still hire me once hiring resumes.
I've been looking for work for 10 months.

[BenHeckHacks]

The layoff rug pull after the election is gonna be brutal. But hopefully eye-opening.

[joelp]

I had a panel zoom interview at the end of September that I thought went great. Had a follow up email a few days later saying the next step is to bring me in for an in-person interview and they’d be in touch soon. Haven’t heard anything since

[cowymtber]

It's amazing. One day it's we're all gonna die, next day it's incredible economic news. Just back and forth. Every day.

[Randomrayray]

Company announced furlough week next month, 5k us employees.

[derkong]

Strange how both republican and democrat elected officials keep voting to bring in more foreign workers under the H-1B

[bennyboy]

12:00 Can't call copper/gold ratio going down as deflationary if it's only going down because gold is going up much faster then copper.

[Jim-br]

After the china virus lockdowns, my work was devastated. 2 months with no income. I had to go home shelters to get food to eat. Ever since that i decided to quit america. I decided to quit working. So i sold everything i had then i bought round trip ticket and left america behind. So today when i see all of the problems that i would have had to endure, i just raise my bad finger

[tatianastarcic]

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

[boneato]

And yet the October ADP Payroll report showed a 6-sigma beat. What gives here?

[tradermunky]

Germany is a good vassal state. Right up there with Japan.