for Brian Shilhavy
Editor, Health Impact News
The US Chamber of Commerce released statistics last week showing that 3 million fewer Americans are working today than there were in February 2020, before the “pandemic”.
They reported that the latest data shows that we have more than 10 million open jobs in the US, but only 5.7 million unemployed workers.
They also reported that the labor force participation rate is 62.6% today, down from 63.3% in February 2020. That means 1.8 million workers are missing today.
What happened to all those missing workers?
The Chamber of Commerce admits that “there is not just one reason why workers are sitting, but several factors have combined to cause the current shortage.”
However, one of the reasons they did not consider or report was the deaths and disabilities due to the Operation Warp Speed mass vaccination program of vaccinations against COVID-19 that began in late 2020 and which were widely mandated as a condition of employment throughout the period. 2021
Edward Dowd and his Phinance Technologies have provided us with this data, which I reported on last week. Dowd’s data shows that deaths and disabilities soared as experimental COVID shots were injected into Americans. I will see:
The Data Wall Street Economists Are Missing: Disabilities and Injuries in the US Workforce After COVID-19 ‘Vaccines’
The US Chamber of Commerce surveyed unemployed Americans in 2021 and 2022 to find out why they had not re-entered the workforce. Only one-third of respondents said they wanted to return to work full-time, and nearly half of respondents said they would not return to work if they could not work from home.
Because?
According to their survey, the top two reasons given were that they were too sick to return to work or that they had to stay at home to care for children or other family members.
More than a quarter (28%) of respondents say they have been sick and that their health has taken priority over them looking for work. In addition, 27% say that the need to be at home and care for children or others has made it difficult or impossible to find a full-time job. (Source.)
If there are so many jobs available, why are we seeing record layoffs?
Another report that was released last week was The Challenger Report from Challenger, Gray & Christmas, Inc.
Its report stated that US-based employers announced 89,703 job cuts in March, up 15% from the 77,770 announced in February, and a 319% increase from the 21,387 cuts announced in the same month of 2022.
The report stated that there were 270,416 job cuts in the first quarter of 2023, a 396% increase from the 55,696 cuts announced in the first quarter of 2022.
“We know that companies are approaching 2023 with caution, even though the economy is still creating jobs. With rate hikes continuing and business costs reigning, the large-scale layoffs we’re seeing are likely will continue,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. (Source).
How can this be? How can there be record job cuts during the same time period when we are seeing more job openings than unemployed?
I think the main answer here is to look at the sector of the US economy that is laying off the most workers: technology.
This is a topic I’ve been reporting on frequently since last year: the great tech crash starting in 2022. The economy hasn’t seen this many layoffs in the tech sector since the dot.com crash of 2001-2002.
In fact, tech companies have announced 102,391 layoffs so far this year, up 38,487% from the 267 layoffs the industry announced in the first quarter of 2022.
That’s already 5% more than the annual total of 97,171 in 2022. It’s on pace to surpass the industry’s highest annual total announced in 2001.
The only years in which Tech announced more job cuts than in the current year are 2001, when 168,395 cuts were announced, and 2002, when Tech cut 131,294. (Source.)
The tech sector has created an economic bubble that is much bigger today than the tech bubble that burst in 2001-2002.
As I reported last week, an explosive article published in the Wall Street Journal showed just how much wasteful spending happens at Big Tech companies. I will see:
Big Tech Failure: There aren’t enough computers in the US to develop new AI software
Excerpt:
A former Meta recruiter who has “reinvented herself as a career coach” says she was paid $190,000 a year to do nothing, according to the Wall Street Journal.
Madelyn Machado, 33, based in Tampa, Fla., said a typical day starts around 11 a.m., when her West Coast colleagues report to work, sit down in meetings from noon to 3:30 p.m., then checking LinkedIn an hour before logging off.
Ms. Machado, who held a position as a recruiter, says that after joining the company in September 2021, she spent much of her time in meetings that accomplished nothing, and that the father of Facebook and Instagram had too many recruiters and not enough work to do them. -WSJ
“We don’t hire anybody and, like, they still get paid,” he said in a TikTok video, relaying what he says other recruiters told him, adding that the company didn’t expect to hire anyone in his first year. , given that he was still learning the ropes.
“I think a lot of these companies wanted there to be work, but it wasn’t enough,” she said of her six months at the company, which she says fired her for posting career advice on TikTok (and probably all that shit). speaking).
Machado is not alone
In recent weeks, other former tech workers have posted similar experiences, saying they were cashing checks from big tech companies without much work.
These confessions, which have drawn a lot of criticism online, are not surprising, say managers and professionals in the sector. Tech companies that grew during the pandemic were flush with cash, they say, and took on workers to build a deep bench and hoard talent from competitors, even if those workers weren’t being fully utilized. -WSJ
“They were hiring ahead of demand,” according to Dartmough Business School professor Vijay Govindarajan, who says the shortage of tech talent at the time contributed to an inflated sense of urgency that fueled the recent hires.
“You want to hire ahead of others” when there’s a talent shortage, he said, adding that there was a similar over-hiring in the early 2000s.
Former Facebook and Salesforce technology worker Derrick McMillen, 32, says that during his time at Salesforce felt that 20% of the employees did 80% of the workwhile the rest did yoga on site and had long lunches.
“There’s this fluffy image of everyone being so nice,” she said. “But when the culture doesn’t allow you to tell people they’re underperforming, you end up with a team of bums.”
Read the full article.
To fully understand the sheer volume of money spent on technology, consider what Elon Musk said in an interview with the BBC yesterday about how many people he laid off after taking over Twitter.
Elon Musk said Twitter has about 1,500 employees, down from 7,500 before he bought the social network for $44 billion in late October.
Musk also said that Twitter’s total user time was an all-time high of 8 million user minutes per day and that “not all, but most” of advertisers have returned to Twitter. (Source.)
Twitter usage has increased since Musk bought it, and he’s running the company with 6,000 fewer employees, an 80% reduction!
However, Big Tech has yet to learn its lesson as billions of dollars of speculative money continue to pour into the development of chat AI, even though none of these chatbots are yet earning revenue . Many of these layoffs in the tech sector are just taking new jobs in AI development.
And what are all these IT geeks who sit in front of a computer all day and have been drinking from the gravy train of high income jobs that don’t actually produce anything going to do when the complete collapse of the Big Tech bubble?
I haven’t really seen any major economists in the US even address this bubble, but the Chinese government does. I will see:
Unlike US, China issues warning over dangerous ChatGPT AI financial bubble
See also:
Understand the times we are currently living in
The God of All Comfort
Year 2023: Will America Fulfill Its Destiny? Jesus Christ is the only “transhuman” the world has seen or will ever see
An invitation to technologists to join the winning side
Synagogue of Satan: Why It’s Time to Leave the Corporate Christian Church
How to determine if you are a disciple of Jesus Christ or not
Epigenetics exposes Darwinian biology as religion: Your DNA does NOT determine your health!
What happens when a holy and just God gets angry? Lessons from history and the prophet Jeremiah
Insider exposes Freemasonry as the world’s oldest secret religion and Luciferian plans for the new world order
Identifying the Luciferian Globalists Implementing the New World Order: Who Are the “Jews”?
Posted on April 12, 2023
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