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“Outside a recession?” It is 100% a recession for the middle class and lower. They just refuse to call it out publicly
D1 nobody “monkeyed” around with anything.
Nothing in the article you linked suggests that including unemployment numbers in the official definition was a new practice.
Rising Star
If only there was someone we could blame
“Employers in New York City significantly reduced hiring in the first half of the year, adding just 956 private-sector jobs, the city’s slowest growth in payrolls outside a recession in decades.
During the same period last year, companies in the city hired 66,000 additional workers, according to data from the city’s Office of Management and Budget.”
Brutal. Factor in all the layoffs and that’s a lot of people out of work.
Perfect storm of ineptitude:
1. Trump Increasing import taxes for no reason
2. Retaliatory tax increases in response
3. CEO’s Following the herd on layoffs
4. Massive executive misunderstanding of what large language models can and can’t do
What's crazy about this chart is from afar - NYC and LA area are the only places in the country with job openings in creative this year. If this isn't a wake up call, I dont know what is. TLDR your chances of getting another job if you are laid off is pretty bad.
This is crazy
Advertising photography jobs are almost non-existent. What has happened to human intelligence?
Money. And as much of it as “humanly” possible. 😞
Why is NYC tanking so bad
It’s not just NYC. It’s the whole country. Businesses can’t do forward planning if they can’t get a clear understanding of their business expenses. And, with Trumps tariffs constantly oscillating, businesses are in a tough spot.
This impacts product releases, marketing budgets, product inventory, and ultimately staffing.