Slashdot Mirror
Good Economy? Tech Layoffs Are Up
Nerval's Lobster writes: If you look at the broad numbers produced by the U.S. Bureau of Labor Statistics, the economy seems great, especially for the tech industry: The unemployment rate for tech pros currently stands at 2.1 percent, down from 2.3 percent in the first quarter. However, that dip isn't uniform for all sectors: The unemployment rate for Web developers climbed from 2.1 percent to 3.1 percent. Computer support specialists, network and systems administrators, computer & information systems managers, and database administrators also saw their respective unemployment rates rising slightly. Layoffs and discharges for the tech industry as a whole rose slightly in April and May (the latest months for which the BLS had numbers), to an average of 441,500 employees per month. That's higher than the first quarter, when layoffs and discharges averaged 424,300 per month. That's not to say we're on the verge of a collapse, bubble, or other economic shock, but it's definitely not great times for everybody.
Well, seeing as an unemployment rate of 3% or less is considered "full employment", this story is just another bullshit blown-out-of-proportion negative hit piece.
The published unemployment rates are a blatant lie, and I don't know how anyone is stupid enough to believe them any more. It's been well-established that they are a dirty lie. Why do we (by which I mean you) keep using them in arguments like they mean something?
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Yea, by relaxing the rules for disability claims he took almost two million people out of the labor force (which went a long ways towards cooking the unemployment rate) while also putting doing a double whammy on Social Security (instead of contributing, all those people are draining it). Great job.
Well, how do you want to measure economic health?
GDP is up ~8.5% since 2008.
DJIA is up ~18.5% since 2008.
Unemployment is down ~2% across the board since 2008.
Average hourly wage is up ~4% (Although the MEDIAN seasonally adjusted wage is down slightly, perhaps indicating a widening gap in wages?)
Perhaps the reason tech related jobs are doing relatively poorly is because they are too easily outsourced. If it doesn't matter where you are physically when you do your job, then you are literally competing with the entire planet for that job.
=Smidge=
You shouldn't include children or college students or retired people or stay at home mothers in the unemployment rate. These are people who do not participate in the workforce because they are doing other things instead. The workforce participation rate is mostly meaningless. As a matter of fact, in a perfect, idyllic (non-Republican) world, the workforce participation rate would be as close to 0% as possible. But then who is going to generate wealth for the 1% OMG!
You shouldn't include children or college students or retired people or stay at home mothers in the unemployment rate. These are people who do not participate in the workforce because they are doing other things instead.
That's why they don't affect the workforce participation rate, which measures what percentage of people who normally work aren't working. Try again.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Apparently you do not realize that anyone's definition of the unemployment rate is flawed and either includes or excludes people. It isn't a real number, it is something like the bill in an Italian restaurant (if I recall Douglas Adams correctly).
And Obama didn't come up with the prescription the government uses, it was in use well before him.
I admit Obama isn't the sharpest knife in the drawer, but this isn't his fault, he isn't lying about this.
The unemployment rate for tech pros currently stands at 2.1 percent, down from 2.3 percent in the first quarter. However, that dip isn't uniform for all sectors: The unemployment rate for Web developers climbed from 2.1 percent to 3.1 percent.
A 1% or less change pretty much amounts to statistical noise. It is meaningless. That is almost certainly well within the amount of normal variation we should expect over short time periods. Furthermore those unemployment figures are roughly half that of the 5-6% unemployment rate currently enjoyed by the overall economy. Basically a 2-3% unemployment rate is as close as you ever get to full employment. It doesn't get better than that.
Right, by kicking the can down the road, and making exactly ZERO reforms, increasing the perverse incentives that caused the crash in the first place, we have made everything better, FOREVER.
Agreed - he said he wanted to work with the other side, but then whenever they met he was like "hey, I won, get over it!" and wouldn't compromise at all.
I'm a Libertarian, and that's not how it looked to someone who wasn't part of one of the major parties. Sure, he staked out a position on things he wanted, but as best I could tell he bent over nearly backwards trying to broker some kind of deal. The Republicans were so focused on not working with him they gave up an opportunity to get legislation passed that would actually move things farther towards their philosophy. Democrats are horrible negotiators because they believe in government, that always leads them to make compromises which often times give away too much.