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“It appears there are more than a ¼ million lost jobs that have yet to be counted. Buckle up. It’s going to be a rough ride.”
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17 posts11 participants1 post today
"For many of the Gen X-ers who embarked on creative careers in the years after the novel was published, lessness has come to define their professional lives.
If you entered media or image-making in the ’90s — magazine publishing, newspaper journalism, photography, graphic design, advertising, music, film, TV — there’s a good chance that you are now doing something else for work. That’s because those industries have shrunk or transformed themselves radically, shutting out those whose skills were once in high demand.
“I am having conversations every day with people whose careers are sort of over,” said Chris Wilcha, a 53-year-old film and TV director in Los Angeles.
Talk with people in their late 40s and 50s who once imagined they would be able to achieve great heights — or at least a solid career while flexing their creative muscles — and you are likely to hear about the photographer whose work dried up, the designer who can’t get hired or the magazine journalist who isn’t doing much of anything.
Gen X-ers grew up as the younger siblings of the baby boomers, but the media landscape of their early adult years closely resembled that of the 1950s: a tactile analog environment of landline telephones, tube TV sets, vinyl records, glossy magazines and newspapers that left ink on your hands.
When digital technology began seeping into their lives, with its AOL email accounts, Myspace pages and Napster downloads, it didn’t seem like a threat. But by the time they entered the primes of their careers, much of their expertise had become all but obsolete.
More than a dozen members of Generation X interviewed for this article said they now find themselves shut out, economically and culturally, from their chosen fields."
https://www.nytimes.com/interactive/2025/03/28/style/gen-x-creative-work.html
The New York Times · The Gen X Career Meltdown
https://www.europesays.com/1969607/ US added a strong 228,000 jobs last month as economy shows resilience in Trump trade wars #Economy #jobs #report #tariffs #unemployment #USJobs
Continued thread
It's not the 1970s, #JeromePowell stresses [we’ll see]
We face risks for higher #unemployment, higher #inflation, that's difficult for a central bank
Powell also said:
Fed #independence on monetary policy is critical, to keep it should not get involved in other issues. [Trump also has expressed interest in making the Fed much less independent as he has done to other #FederalAgencies]
Earlier Friday, #Trump said it would be the "perfect" time for the Fed to lower interest rates.
#FederalReserve Chair #JeromePowell is speaking
Says #Trump #tariffs were far higher than expected & that larger than expected tariffs mean higher #inflation, slower growth.
"We face a highly uncertain outlook with elevated risks of both higher #unemployment & higher inflation," undermining both of the #Fed's mandates of 2% inflation & maximum employment, Powell said in prepared remarks for a business journalists' conference.
Canadian economy loses 33,000 jobs in March — the biggest monthly loss since 2022
Statistics Canada says the economy lost 33,000 jobs in March, the biggest monthly job loss since January 2022. The unemployment rate for March rose to 6.7 per cent, up from 6.6 per cent in February.
#economy #jobs #unemployment #News #Business
https://www.cbc.ca/news/business/canada-unemployment-march-2025-1.7501875?cmp=rss
U.S. economy likely created modest 130,000 jobs last month as Trump trade wars lift recession fears
The unemployment rate is forecast to tick up to 4.2% in March from 4.1% in February.
Sentinel Colorado · US added a surprising 228,000 jobs in March as economy shows resilience in Trump trade wars
Je me souviens 
And from #Trump, more wanton #Economic #destruction
"10-year Treasury yield tumbles below 4% on fear a trade war will tip economy into a recession"
#Crisis #Tariffs #USA #EU #News #Democrats #MAGA #Fascism #Security #Canada #Economy #GDP #Oligarchy #Inflation #USA #House #Elections #Polls #History #Unemployment #JobLoss
https://www.cnbc.com/2025/04/04/us-treasury-yields-investors-digest-aftermath-of-trumps-tariffs.html
CNBC10-year Treasury yield tumbles below 4% on fear a trade war will tip economy into a recessionU.S. Treasury yields continued to plummet as investors digested the aftermath of U.S. President Donald Trump's aggressive "reciprocal tariff" policy rollout.
Let Trump simmer.
"The Federal Reserve is not likely to rescue markets and economy from tariff turmoil anytime soon"
#Crisis #Tariffs #USA #EU #News #Democrats #MAGA #Fascism #Security #Canada #Economy #GDP #Oligarchy #Inflation #USA #House #Elections #Polls #History #Unemployment #JobLoss
CNBCThe Federal Reserve is not likely to rescue markets and economy from tariff turmoil anytime soonShould the president hold fast to his tougher-than-expected trade policy, there's a material risk of at least near-term costs.
For those keeping track on the US Stock market.
$1.8 trillion loss in market value today (thus far)
$5–7.5 trillion reduction in total market value since January 20, 2025. or 10-15% of it's value.
For those saying: ‘Why the fuck should I care about the stock market crashing? It doesn’t affect me.’
Eventually it will as a your 401Ks wilt and businesses close their doors causing massive unemployment.
If this is going well, imagine what bad would look like.
"Trump says tariff rollout is ‘going very well’ as global markets sell off"
#Crisis #Tariffs #USA #EU #News #Democrats #MAGA #Fascism #Security #Canada #Economy #GDP #Oligarchy #Inflation #USA #House #Elections #Polls #History #Unemployment #JobLoss
https://www.cnbc.com/2025/04/03/trump-tariffs-live-updates-stock-market-trade-war.html
CNBCTrump tariff fallout begins as layoffs, price hikes and retaliation tank markets: Live updatesTrump tariffs fallout starts with layoffs, price hikes and trade war tensions, driving broad market sell-off
#Trump #Economy continues to careen
"Layoff announcements surge to the most since the pandemic as Musk’s DOGE slices federal labor force"
#Crisis #Tariffs #USA #EU #News #Democrats #MAGA #Fascism #Security #Canada #Economy #GDP #Oligarchy #Inflation #USA #House #Elections #Polls #History #Unemployment #JobLoss
CNBCLayoff announcements surge to the most since the pandemic as Musk's DOGE slices federal labor forceThe surge in March was exceeded only by when the country shut down in 2020 for the Covid pandemic,
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@carnage4life
THE ONLY WAY AN ECONOMIC DISRUPTION OF THIS MAGNITUDE MAKES ANY SENSE is if the economy had crashed (ala: The Great Depression) and we were desperate to create tens of millions of jobs.
But instead, under #Biden, #unemployment fell as low as 3.4% two years ago this month, and was still just 4.1% when he left.
We don't need to engage in desperate measures to create jobs when we were already at or near full employment. #UnnecessaryChaos #DisasterPresidency
Ah, the classic tale of "I have too much free time and not enough common sense" 
. Our hero decides that a 19ft #sailboat named "Chubby" is the perfect vessel for a leisurely jaunt across the Pacific 
. Because when life gives you #unemployment, obviously you risk your life sailing to Hawaii 
.
https://potter-yachters.org/stories/teplow_to_hawaii.htm #sailingadventures #humor #PacificOcean #riskybusiness #HackerNews #ngated
potter-yachters.orgBill Teplow's Voyage to Hawaii in a Potter 19
GOLDMAN SACHS SEES TRUMP TARIFFS SPIKING INFLATION, STUNTING GROWTH AND RAISING RECESSION RISKS
- aggressive duties from #trump to raise #inflation and unemployment and drag economic growth to a near-standstill
- “we continue to believe the risk from April 2 #tariffs is greater than many market participants have previously assumed"
- They raised its forecast for inflation this year to 3.5%, cut its #GDP outlook to just 1% and raised its #unemployment view to 4.5%
CNBCGoldman Sachs sees Trump tariffs spiking inflation, stunting growth and raising recession risksA broad, negative impact will be felt in the economy when the new trade moves are enacted, the Goldman economic team believes.
Does anyone remember the aftermath of the second term of the Bush/Cheney presidency? The time to start preparing has already passed. Plan now.
https://www.alternet.org/the-rich-are-worried/
#Economy #Money #Unemployment #President Musk #DOGE
Alternet.org · 'Even the rich are worried': Experts warn of 'scariest' signs amid 'stagflation' fears
On this Day in Social Security History:
#SocialSecurityat90
#StrongerTogether
" Resolved, That the General Court of Massachusetts favors the immediate enactment by Congress of suitable legislation creating a national compulsory unemployment-insurance..." F.W. Cook, Secretary of the Commonwealth of Massachusetts, in the US House of Representatives. https://www.ssa.gov/history/pdf/h416.pdf
3/27/1960 (March 27 - April 2, 1960) The sixth White House Conference on Children and Youth was held.
More: https://files.eric.ed.gov/fulltext/ED078896.pdf
3/27/1969 (March 27 & May 21, 1969) President Nixon signed the Reorganization Act. https://www.presidency.ucsb.edu/documents/statement-establishing-common-regional-boundaries-for-agencies-providing-social-and
3/27/1891 SSA awarded a communications terminal replacement contract to the Paradyne Corp. of Largo, Florida. See: The Paradyne Affair (Pg. 126) - https://www.ssa.gov/history/pdf/ota86.pdf
3/27/2006 SSA published its Disability Service Improvement initiative. https://s3-us-gov-west-1.amazonaws.com/cg-778536a2-e58c-44f1-9173-29749804ec54/uploads/2023/12/2006-HearingProcess_2006.pdf
More Social Security history: https://www.ssa.gov/history/ & #SSAHistGWC
#SocialSecurity #History #Disability #Retirement #Medicare #Unemployment #insurance #healthcare #NewDeal #OTD #SSDI #OASDI #equity #justice Social Security Administration
Job loss affects physical and #mental\health, but viewing it as a temporary setback rather than a catastrophe can help minimize health impacts. A social work professor explains: https://buff.ly/Rz0MUTm #unemployment
The ConversationLosing your job is bad for your health, but there are things you can do to minimize the harmIt’s not just about having money problems − it’s how you feel about those problems that matters most for your mental health.