Payrolls popped by 272K in May — linkedin.com Yippee! They are part-time jobs. There was a significant decrease in full-time jobs and the unemployment rate rose to highest in over two years. (The photo above of the Now Hiring at Pizza Hut sign is from the actual LinkedIn story. I like it. Very appropriate.) It would be helpful to get some context around this 272,000 number, beyond just “Payrolls popped.” Nice alliteration though. Who says there’s no value in a liberal arts degree? Read more →
EppsNet Archive: Jobs
I Don’t Think the Jobs Report Was Good
I don’t think the jobs report was good. I don’t think the economy is good. I just read a series of comments on the story linked above and commenters were euphoric. Why do we see one sunny report after another on jobs, unemployment and the economy while Forbes reports that 40% of Americans are living paycheck to paycheck, and 29% are doing even worse, i.e., their income doesn’t cover their expenses? Why has the sentiment on LinkedIn been so dismal? The jobs numbers are illusory. The jobs are all part time. Last month’s jobs were all part time. Full-time employment actually went down. We’ve added 6.2 million jobs since May 2022 and full-time employment has gone up by only 263,000. Number of jobs “created” has gone up much faster than number of people employed, I suspect because a single person working multiple jobs counts as multiple jobs. The unemployment numbers… Read more →
I Got Mine
I read a post today on LinkedIn that started out like this: “Your salary increase will be 2%,” I told her. It was one of my worst moments as a people leader. She was my star performer, my right hand person. 1000% business critical to our team. Yet 2% was the best our company would give her. It was far beneath her value, and we both knew it, and I couldn’t do better for her. The author goes on to say that he advised her to look for a new job that would pay what she’s worth, which she did. And the moral of the story is that you can’t complain when employees leave if you don’t give them reasons to stay. Surprisingly to me, the poster got a lot of recognition and praise for his handling of this tale of woe. I don’t like the story myself. As I… Read more →
A Dissent on the Biden Radio City Fundraiser
What we saw last night was the president’s ‘let them eat cake’ moment. Millions of Americans are suffering because of the mismanagement of this economy. I say this frequently. We’re seeing record numbers of foreclosures, people are having their cars repossessed, we are seeing a silent job loss because the reports are now showing that the actual growth in employment is in part-time jobs, not in full-time jobs. It is totally and completely unseemly, in this economic environment, for our president to say that we’re going to try to set the record for the amount raised. No money to help people buy eggs and bacon. No money to make sure that people can afford gasoline. — Horace Cooper Read more →
Something is Really Wrong
I just read another LinkedIn post from a person who lost her job and wanted to say farewell to colleagues. I’ve read a lot of posts like this. Probably you have as well. This one was the last straw. I’ve begun to feel like I’m watching something terrible happening right in front of me without saying anything about it. My dad graduated from the Naval Academy, served his country, got his first civilian job and worked at that company his entire life. It wasn’t uncommon for men of that generation to work their whole career at one company. It’s not possible that those companies never had a bad quarter or a bad year, but they managed downturns without layoffs. Workers weren’t acquired and disposed of like potted plants. This was before human dignity was replaced by managerial elites with no interest in the development, prosperity, security, freedom or well-being of… Read more →
Job vs. No Job
Success!
This is an actual job posting. I don’t know if I’d want to take success tips from someone making 22 bucks an hour . . . Read more →
If Your House Burns Down and You Rebuild It, Did You “Create” a New House?
Over 13 million new jobs created.More Americans are working than ever.Record number of small business applications. Bidenomics is growing our economy. — Joe Biden (@JoeBiden) June 28, 2023 I love these Biden tweets on job “creation.” ChatGPT tells me that the COVID-19 pandemic caused the loss of more than 22 million jobs in the United States. The 13 million jobs that Biden “created” are those lost jobs coming back. But he’s still 9 million short. What happened to those people? The unemployment rate is low, which suggests that people have left the labor force for some reason. If COVID didn’t kill them all, then they may have retired, given up (not everyone wants to work at fast-food restaurants), or cobbled together a welfare package they can live on. The labor force participation rate (shown below) has never come back to pre-pandemic level, and people who have left the labor force… Read more →
What the State of the Union Didn’t Say
The president entered office with a 1.4% inflation rate and spiked it to 7%. 30-year mortgages of 2.7% soared to 6.5% in less than two years. Eggs are $7 a dozen. A thin steak is $15 a pound. A sheet of plywood is $95. Gas averaged $2.39 a gallon when the president took office and even after draining the Strategic Petroleum Reserve it is still $3.50 a gallon. In my state, California, gas has recently been over $5 a gallon. The price of natural gas has tripled in less than a year. In two years over 5 million foreign nationals poured into the United States—all illegally across a nonexistent border. The president said that he “lowered” inflation, energy prices and interest rates after sending them to astronomical levels and then seeing them momentarily taper off a bit. Like Nero bragging about rebuilding Circus Maximus after burning it down. He omitted… Read more →
Render Unto Ukraine What We Need at Home
Now, I don’t think it’s controversial to note that many Americans here at home are not doing very well. You can pick whatever problem you think is the gravest: lack of wage increases and wage stagnation; the need to work multiple jobs if you have children, especially even if you’re a married couple — the fact that one parent, if they want, can’t stay home and take care of their children any longer, what was a foundational property of American life for decades and that no longer is the case. It’s gone. There aren’t enough good jobs, so people have to work two jobs just to sustain their family, to pay other people to raise their kids, and to pay other people to take care of their elderly parents. Huge numbers of people are without health care. Some of those people without health care got Medicaid benefits during the COVID… Read more →
Schadenfreude Squared
I’m a little late on this but I read not too long ago about a couple of Twitter employees who called out Elon Musk via public tweets. I’m not sure “called out” is the right phrase . . . one employee implied that Musk has no idea what he’s talking about and the second just gratuitously insulted him. Both were fired. Musk actually announced the first guy’s firing on Twitter. The tone of the media coverage surprised me. It sounded like Musk was some kind of monster. But ask yourself this question, and I will do the same: “If I posted something on Twitter to the effect of ‘I work at Company X and our CEO is an idiot,’ what would happen?” My answer is: I don’t think it would go well. I’d probably lose my job. But really the most intoxicating angle on this is Twitter employees losing their… Read more →
Unemployment Numbers Don’t Make Sense
From a Daily Wire newsletter: Tech giant Meta is laying off 13 percent of its workforce across all of its companies: Facebook, Instagram, and WhatsApp, etc. That amounts to around 11,000 jobs — the biggest tech layoff of the year. That’s an especially high number when you remember that since its founding 18 years ago, Facebook has never had to cut back its workforce. Meta CEO Mark Zuckerberg appeared to address the layoffs in a leaked video Wednesday afternoon, saying, “I want to say up front that I take full responsibility for this decision…It was one of the hardest calls I’ve had to make in the 18 years of running the company.” And… the company has signaled investors to expect further bad news in the fourth quarter. This comes after Meta announced a second straight quarter of declining revenue in October. Everywhere you look, big tech is struggling. Last week,… Read more →
“Get the Vaccine” — Joe Biden
OK grandpa, now go take a nap. That’s the only Biden quote I have. Nothing on the latest jobs report, massive layoffs, high gas and energy prices, high food prices, high crime, empty shelves, open borders or Afghanistan. If you have any good ones, let me know and I’ll post them here. Read more →
Thomas Jefferson: Why is President Biden So Unpopular?
My fellow Americans – According to White House press secretary Jen Psaki (whom I would nail so hard that whoever could pull me out would be named King of England), the COVID-19 pandemic is to blame for President Biden’s poor approval rating, which has fallen to a new low in recent polling. Point taken, but of course Biden and the Democrats campaigned on the pandemic being the fault of Trump and the Republicans, who failed to “follow the science.” And yet after nine months of glorious science-based leadership in Washington, here we are, no better off than before as far as I can see. Psaki also failed to mention the botch-up in Afghanistan, an unprecedented border crisis (including migrants coming in already infected with COVID), inflation, consecutive dismal job reports, and ongoing debt default brinksmanship. Read more →
If All We Want Are Jobs
If all we want are jobs, we can create any number — for example, have people dig holes and then fill them up again, or perform other useless tasks. Work is sometimes its own reward. Mostly, however, it is the price we pay to get the things we want. Our real objective is not just jobs but productive jobs — jobs that will mean more goods and services to consume. — Milton Friedman Read more →
An Open Letter to My Former CEO
Today is my last day with Company X. I’ve really enjoyed working with my colleagues. That said, the events of two weeks ago really made me ill. To call an all-hands webinar, announce that the company is losing too much money, as a result of which 80 people will have their jobs taken away, then boom, meeting over. Not even the decency to take a comment or question. I feel like those 80 people probably did not lose the money, probably just did what they were told to do to the best of their ability. The responsibility for losing the money lies with whoever told them what to do, starting with the CEO. There’s a law of the sea, I think it’s a good law, that the captain goes down with his ship. Not that he grabs hold of 80 people and throws them overboard, then follows up with a… Read more →
Thomas Jefferson: Without Citing Any Evidence
My fellow Americans – I noticed during the Trump presidency that the press developed an affectation where they reported everything he said as “Trump said ‘blah blah blah,’ without citing any evidence.” [Emphasis is my own.] Why Trump was the only human being held to this standard was never clear to me, but I thought of it again this week and perhaps it’s time for a resurrection of “without citing any evidence.” For example, President Biden’s announcement of a victorious withdrawal from Afghanistan might have been better presented as “President Biden, without citing any evidence, called the American withdrawal from Afghanistan a success.” Or when the August jobs report was released, showing that the economy added a disappointing 235,000 jobs vs. an estimate of 720,000, to which the president responded “The Biden plan is working,” more meticulous reportage could have been “‘The Biden plan is working,’ said the president, without… Read more →
How Long Does it Take to Get Hired?
From LinkedIn News: How long does it take to get hired? That depends on the field of work you’re in, according to a new analysis by LinkedIn’s Economic Graph team looking at confirmed hires on the platform from June 2020 to March 2021. The data shows that technical positions take the longest time to fill (the median turnaround in engineering is 49 days). By contrast, everything moves faster in non-technical fields, such as sales (38 days) and customer service (34 days). I’m a software engineer. I did a phone interview with Company A, two managers on the call, we did a tech screen and the gist of it was, “Great job, we’ll set you up for the next interview a week from tomorrow.” Meanwhile Company B did one Zoom call and was ready to make an offer the next day. Top candidates are not going to stay on the market… Read more →
Do You Want a Programmer or a Pizza?
I teach programming classes for a living. The school has a Slack account and one of the things we use it for is to post relevant job openings. These postings come from the hiring companies and most of them unfortunately simply consist of a copy of the job description: Responsibilities, Requirements, Technical Skills. Bullet points. Trying to hire programmers like ordering a pizza. When I was a hiring manager, HR would try to run job postings like that. The problem was that I wanted to hire good programmers and good programmers have a lot of options regarding where they work. So just as a candidate needs to sell themselves to a company, a company needs to sell itself to candidates. One way of doing this is through job postings. So I rewrote the job postings to make them more enticing. To give you an example of what I mean, here’s… Read more →
Teaching Computer Science: Don’t Worry About Spelling and Grammar?
The following is part of the Code.org online curriculum, asking students to write a brief reflection on starting a computer science class. That seems like an oddball thing to say in an educational context. “Let’s talk about the instructions here for a minute,” I said to the class. “One: it doesn’t make sense to me to compartmentalize education like this. Like spelling and grammar are only important in an English class and this is not an English class so don’t worry about it. “We’ll be taking a holistic view of education here. I hope you’ll learn some things about computer science but I hope you’ll learn some other things as well. “On a practical note, you may find yourself competing for a job someday, and if it’s a good job, there are likely to be a lot of applicants. “No one wants to read a large number of resumes, so… Read more →