alt Hacker NewsI just read this on CNBC:
“US business continues to boom,” S&P Global Market Intelligence chief business
economist Chris Williamson said in a statement. “To put the growth surge in
context, barring the spike in demand following the opening up of the economy
after the COVID-19 lockdowns, the latest improvement in business activity
is the greatest recorded since early 2015. Business is clearly booming now in
both manufacturing and services.”
Is it booming for everyone except software developers? I keep hearing about developers who have been looking for a job for 6 months or longer and don't get responses to applications.
Or is it some process failure (which you hint at) that is making it difficult to capitalize on that boom?
Replies
https://en.wikipedia.org/wiki/Jobless_recovery
Business doing good doesn't automatically mean populations of humans are doing good themselves.
The article is talking about "The Economy" (read: stocks and bonds), not employment numbers. The market can both be awful for job seekers and great for capital owners.
Speculation, but: if tech over hired during COVID our section of the market could be experiencing a corrective slowdown while others are booming in aggregate.
Most job growth for the past several years has been in the healthcare, leisure and hospitality, and construction sectors. Removing these sectors makes job growth negative for 2024 and 2025, and wipes out the majority of job growth in 2026. See https://www.deloitte.com/us/en/insights/topics/economy/spotl...