FRESH

Hacker News

Labor Department Won't Publish October Unemployment Rate

61 points by JumpCrisscross

by keeda

1 subcomments

A labor economist I follow explains that this is just a side-effect of the shutdown, but other sources of employment data show that things have not deteriorated too much from the months prior.
There have been some general, very slightly concerning trends for a while now, but the large layoff numbers we hear of are not (yet) reflected in the broader data.
The job market is surprisingly stable, in the sense that hiring is not dropping and neither are layoffs growing (much). However, if you do lose a job, it is very hard to find another one. You do not want to be in that situation.

by nis0s

2 subcomments

They drained the swamp, where the swamp is composed of average working Americans. On top of that, F1 student visa and H1Bs still going on as strong programs. I am still optimistic that there may be growth due to decrease in trade deficits, but I don’t see the situation improving much unless there’s a broad push to establish a global minimum corporate tax rate. Why the hell do CEOs still have multi- million/billion salaries? They’re summarily failing the economy, and corporate revenues and stock values.

by hodgehog11

3 subcomments

I just don't see how the US (possibly even the world) isn't heading for a colossal recession within the next year. The job market is gone. Everything is a recession indicator, we're basically in one right now. Once the AI hype dies, possibly even at the next Nvidia meeting, there's very little left.

by JohnFen

2 subcomments

That means the numbers are as bad as or worse than everyone expects, and the administration wants to hide that data so they can lie about it without contradiction.

by sgnelson

0 subcomment