U.S. Economy Is Doing What Few Others Are: Getting More Productive

Re:U.S. Economy Is Doing What Few Others Are: Getting More P... by toomuchtodo on Thursday December 05, 2024 @02:59PM (#42332030)

Orgs cut as many people as possible, and are hiring as slowly as possible (to control labor costs/push wages down) to juice productivity. Fed is behind, needs to keep cutting ~25 bps each FOMC meeting at least to preserve the labor market momentum.

https://www.bloomberg.com/news/newsletters/2024-12-05/unempl... | https://archive.today/t2cya

https://www.bloomberg.com/news/articles/2024-12-04/job-searc... | https://archive.today/IDc3t

> Former Fed economist Claudia Sahm likened the current job market to the “Twilight Zone,” in reference to the 1960s-era science fiction TV show where reality isn’t what it seems. She said she could understand the lack of hiring if this were Europe, but not in the US, where economic backdrop is “really good.”

> “What are they doing, why aren’t they hiring more?” she asked.

Profits?

[ Parent | on HN ]

Re:U.S. Economy Is Doing What Few Others Are: Getting More P... by cyanydeez on Thursday December 05, 2024 @06:34PM (#42334095)

I think they are probably doing what landlords did and conspiring to drive down engineering costs using the kludge of AI.

THE hype around AI makes it 3asy for them to pretend they can get better efficiency while just locking out labor union movement.

[ Parent | on HN ]

Re:U.S. Economy Is Doing What Few Others Are: Getting More P... by toomuchtodo on Saturday December 07, 2024 @06:56PM (#42353847)

Additional citation:

https://www.bloomberg.com/opinion/articles/2024-06-11/how-di... | https://archive.today/NrKzp

[ Parent | on HN ]