Meanwhile, tech companies continue to lay off tens of thousands. Great american economy.
I love looking for tech oriented jobs here in Seattle. /s
Don’t shit on my seattle! /s never been
It's a shame that Aunt Teefa burned it down in the race riots of 2020. /s
Definitely come check it out if you can. Pike Place is actually fun to check out (ignore the 'first' Starbucks because it is just a coffee shop). Seattle Center, which you can get to by bus, scooter or monorail (it put us on the map!), has a decent amount of shit to do. Check out some of the neighborhoods outside of downtown like Queen Anne (Kerry Park), Capital Hill, Fremont, International District, etc. And if you want to venture out of the city, you can take a ferry to Vashon or Bainbridge or if mountains are more your style, head east to hit up a shit ton of them.
Screw all that. Come to Ballard and get drunk.
Absolutely. If you like beer at all, there are like two dozen breweries there. I just wish it did not take so goddamn long to get there. I say that as someone who lived there off and on for like five years. I miss going to the Sloop.
Hey, light rail in 2034, baby!
What is up with that? Any good reasons behind that?
Echoing what BudgieMania said, think of companies like Peloton and Zoom, or even Amazon. In the peak of the pandemic they grew like crazy, and they hired staff like there was no tomorrow. Tech firms of all kinds outpaced the rest of the economy because everything went digital almost overnight, and people stuck at home completely transformed their consumption patterns. Turns out there was a tomorrow, and after things settled down, life returned to normal, and folks started returning to offices, demand for some of those digital products fell back to Earth. Also what feels like the bottom dropping out to employees is actually a significant net uptick in job creation. That certainly doesn't help the folks currently out of work (my partner is actually one of them), but it's much more of a right-sizing than a down-sizing, all things considered.
In most cases, they hired and grew at an irresponsible rate in 2021-2022
GDP measures the value of the final goods and services produced in the United States (without double counting the intermediate goods and services used up to produce them). So, it doesn't have a thing to do with your salary
Workers are the ones that produce the goods and services. We made the economy grow, yet we aren't the ones that see the direct benefits of this growth. Do you think this is fair?
I think your first two sentences make a good point, but I also don't think it's fair to ask the question in your third when all the guy was doing was explaining the definition of GDP rather than making a value judgement about it.
Well yeah, I asked the question to find out their position. It doesn't read as neutral to me, but I'm biased, so I want to make sure.
So basically it means nothing to the average person?
I mean, more or less. When discussing GDP, you're discussing things at such a massive scale that only the details of the details filter down. Like the speed of the Earth - obviously it matters, but no one living here is going to notice on their daily walk that the Earth has sped up or slowed down by 100 mph. It's a tool (ideally) for discerning growth and potential courses of action for large-scale decision-makers, like the government.
But doesn’t GDP also take into consideration real estate and military spending, two things America very much spends dickloads of money on? In an ideal scenario, it would be an accurate measure, but because housing prices are so high and military spending is basically going infinite at this point in the US, you could argue it’s a worthless metric because of how inflated it can be.
Military spending isn't that much higher as a percentage of GDP than it has been in the past. To increase the GDP by 3.3% by itself, the military budget would have to have over doubled in the last year. As much as we spend on the military, it has not doubled in the past year.
Real estate is a larger part of the economy, but real estate price inflation still would only account for a small amount of that 3.3% increase in GDP. If we assumed 100% of the growth in the past year was pure greed and had no relation to actual supply and demand, it would still only account for under 1% of the 3.3% GDP increase. And as much as housing prices have increased due to greed, you would have to count me skeptical that it's 100% corporate greed and 0% of the actual demands of the market.
If you’re not then you should be looking for another job. Nobody is going to just give you anything, you need to go get it.
Switching jobs can't counter market power, whenever employers have it, which is probably the vast majority of cases. Unions can.
People too lazy to find a higher paying job when they’re being underpaid are also likely too lazy to actually organize.
Unions don’t appear out of thin air. They require a ton of grassroots effort.
And I have never not gotten at least a 15% pay increase by switching jobs. It’s the most effective way to increase your pay today, even with unions.
And when you're not in a high demand field its a thousand times harder.
If you don't have the right skills, or the right sociability, its nowhere near as easy to just hop around to whatever job gets you enough to live off of.
You wanna tell that to my software developer friend who literally cannot find work right now? He worked for facebook and spotify and got laid off.
You might right about the first part. You're wrong about the second. If you're not in a high-demand field, you have no negotiating power to get that 15% increase since there's another person who would work for less. Jumping jobs yields pay raises only in some fields in some markets, likely in the upper ends of the labor pay scale.
Pull those bootstraps!
Just because something is possible does not make it doable for the average person. Sometimes people don't want maximizing their salary potential to be their entire lives. They just want enough to live comfortably without killing themselves 10-12 hours a day.
Having to constantly work to get the bare minimum acceptable is not okay. And hustle culture does not change that.
Has rent gotten substantially cheaper? No?
How about milk? No?
But I guess our fossil fuels cost less than they did a couple of years ago, so there's that...
Meanwhile, tech companies continue to lay off tens of thousands. Great american economy.
I love looking for tech oriented jobs here in Seattle. /s
Don’t shit on my seattle! /s never been
It's a shame that Aunt Teefa burned it down in the race riots of 2020. /s
Definitely come check it out if you can. Pike Place is actually fun to check out (ignore the 'first' Starbucks because it is just a coffee shop). Seattle Center, which you can get to by bus, scooter or monorail (it put us on the map!), has a decent amount of shit to do. Check out some of the neighborhoods outside of downtown like Queen Anne (Kerry Park), Capital Hill, Fremont, International District, etc. And if you want to venture out of the city, you can take a ferry to Vashon or Bainbridge or if mountains are more your style, head east to hit up a shit ton of them.
Screw all that. Come to Ballard and get drunk.
Absolutely. If you like beer at all, there are like two dozen breweries there. I just wish it did not take so goddamn long to get there. I say that as someone who lived there off and on for like five years. I miss going to the Sloop.
Hey, light rail in 2034, baby!
What is up with that? Any good reasons behind that?
Echoing what BudgieMania said, think of companies like Peloton and Zoom, or even Amazon. In the peak of the pandemic they grew like crazy, and they hired staff like there was no tomorrow. Tech firms of all kinds outpaced the rest of the economy because everything went digital almost overnight, and people stuck at home completely transformed their consumption patterns. Turns out there was a tomorrow, and after things settled down, life returned to normal, and folks started returning to offices, demand for some of those digital products fell back to Earth. Also what feels like the bottom dropping out to employees is actually a significant net uptick in job creation. That certainly doesn't help the folks currently out of work (my partner is actually one of them), but it's much more of a right-sizing than a down-sizing, all things considered.
In most cases, they hired and grew at an irresponsible rate in 2021-2022
Just compare the growth in employees in Microsoft in 2021-2022 compared to the 5 previous years or so
Of course, the employees are not to blame for that and should not pay for that, but that's how they roll I guess...
Private equity is likely the case
Does that mean I'm getting a 3.3% raise?
GDP measures the value of the final goods and services produced in the United States (without double counting the intermediate goods and services used up to produce them). So, it doesn't have a thing to do with your salary
Workers are the ones that produce the goods and services. We made the economy grow, yet we aren't the ones that see the direct benefits of this growth. Do you think this is fair?
I think your first two sentences make a good point, but I also don't think it's fair to ask the question in your third when all the guy was doing was explaining the definition of GDP rather than making a value judgement about it.
Well yeah, I asked the question to find out their position. It doesn't read as neutral to me, but I'm biased, so I want to make sure.
So basically it means nothing to the average person?
I mean, more or less. When discussing GDP, you're discussing things at such a massive scale that only the details of the details filter down. Like the speed of the Earth - obviously it matters, but no one living here is going to notice on their daily walk that the Earth has sped up or slowed down by 100 mph. It's a tool (ideally) for discerning growth and potential courses of action for large-scale decision-makers, like the government.
But doesn’t GDP also take into consideration real estate and military spending, two things America very much spends dickloads of money on? In an ideal scenario, it would be an accurate measure, but because housing prices are so high and military spending is basically going infinite at this point in the US, you could argue it’s a worthless metric because of how inflated it can be.
Military spending isn't that much higher as a percentage of GDP than it has been in the past. To increase the GDP by 3.3% by itself, the military budget would have to have over doubled in the last year. As much as we spend on the military, it has not doubled in the past year.
Real estate is a larger part of the economy, but real estate price inflation still would only account for a small amount of that 3.3% increase in GDP. If we assumed 100% of the growth in the past year was pure greed and had no relation to actual supply and demand, it would still only account for under 1% of the 3.3% GDP increase. And as much as housing prices have increased due to greed, you would have to count me skeptical that it's 100% corporate greed and 0% of the actual demands of the market.
If you’re not then you should be looking for another job. Nobody is going to just give you anything, you need to go get it.
Switching jobs can't counter market power, whenever employers have it, which is probably the vast majority of cases. Unions can.
People too lazy to find a higher paying job when they’re being underpaid are also likely too lazy to actually organize.
Unions don’t appear out of thin air. They require a ton of grassroots effort.
And I have never not gotten at least a 15% pay increase by switching jobs. It’s the most effective way to increase your pay today, even with unions.
And when you're not in a high demand field its a thousand times harder.
If you don't have the right skills, or the right sociability, its nowhere near as easy to just hop around to whatever job gets you enough to live off of.
You wanna tell that to my software developer friend who literally cannot find work right now? He worked for facebook and spotify and got laid off.
You might right about the first part. You're wrong about the second. If you're not in a high-demand field, you have no negotiating power to get that 15% increase since there's another person who would work for less. Jumping jobs yields pay raises only in some fields in some markets, likely in the upper ends of the labor pay scale.
Pull those bootstraps!
Just because something is possible does not make it doable for the average person. Sometimes people don't want maximizing their salary potential to be their entire lives. They just want enough to live comfortably without killing themselves 10-12 hours a day.
Having to constantly work to get the bare minimum acceptable is not okay. And hustle culture does not change that.
Has rent gotten substantially cheaper? No?
How about milk? No?
But I guess our fossil fuels cost less than they did a couple of years ago, so there's that...
Cool, now someone hire me
Can you go a workday without punching anyone or taking off your pants?
Not if I have to poop.
Otherwise probably yes
You'll punch someone in the face if you have to poop? Sounds like an irritable bowel disorder
That is a Cities: Skyline 2 screenshot.
Someone named their save U.S Economy and is now making headlines.
way to go, Joe
Right wing pundits and politicians:
"How can I frame this as a bad thing?"
since the day he took office, this country has been running like it's supposed to
Remember to always replace ‘The Economy’ with ‘Rich People’s Yacht Money’.
Remember when the economy doing good didn't just mean record billions for the already billionaires? Me neither...
It's getting really late to move toward egalitarian de-growth
Sweet, when do I get my check?
throughout november and december 2023, and january 2024
if you had investments in the S&P500 that is
Ok
Economists are the enemies of the people.
Oh God