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

https://www.wsj.com/economy/u-s-economy-is-doing-what-few-others-are-getting-more-productive-4c2116f5

3 6 2 years ago

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?

cyanydeez• 2 years ago

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.

toomuchtodo2• 2 years ago

Additional citation:

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

lawls2• 2 years ago

to get around paywall

https://www.msn.com/en-us/money/markets/us-economy-is-doing-...

lawls2• 2 years ago

I think what is going to happen in the next two-to-three years is that the productivity applications for the general masses will finally be ready for mainstream use. Currently, I am trying to design better onboarding tools using GenAI to organize and create help guides on the fly for any questions someone may have. It's going to take a lot of hard work and effort and time, but it will happen, that I guarantee. America is just one of those places where I feel stuff like this is what we were brought up to envision and actualize.

brodouevencode• 2 years ago

Reminder that single data points aren't fully indicative of the health of a large system.

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

Related Stories