GDP was expected to grow at a 2% annualized rate in the fourth quarter of 2023, according to economists surveyed by Dow Jones.
    • Blackbeard@lemmy.worldMEnglish
      13·
      8 months ago

      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.

    • BudgieMania@kbin.social
      61·
      8 months ago

      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…