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As long as it doesn’t affect the rich, there is no problem.
That’s why a predictable oil spill is good, the ill-fated joke that is American health care is good, and crumbling infrastructure is good.
So when the beleaguered masses fear that mass tech cuts are a sign of a financial meltdown, Goldman Sachs’ answer…that’s good.
or at least, It’s not the sign of failure you think.
Thousands of people losing their jobs (and their personal paychecks) because executives wrote employment checks does not/cannot cause a recession. The good people at Oxford describe the recession as follows
“A period of temporary recession during which business and industrial activity slows down, generally characterized by two consecutive quarters of decline in gross domestic product.”
Programmers of the world rejoice! This isn’t really a recession, it’s a horrible thing happening to you and your industry.
And of course there are still plenty of open jobs in tech! Going without a pay cheque, or having the hours reduced on your work visa, or competing with your own colleagues and pools of younger, hotter new graduates for the job. as well For startups and established institutions, months of long-term impracticability doesn’t mean the economy or even the industry is floundering.
It’s just your problem.
To be honest, I’m exaggerating a bit for its practicality. Fresh graduates aren’t hot just because they’re young. Based on their new degrees, open-mindedness, and tenacity (or perhaps desperation), employers are ready to jump into the world of work.
After all, he it is. The key is learning to call things what they really are. “Unpaid overtime” is theft, the word “average” when used in news requires a special distinction between math and language, and widespread job-related bad luck in a particular sector doesn’t stop cash machines from grinding – so no i don’t An indicator of economic failure.
Whether that makes you feel better or not is another variable.
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