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Date Posted: 17:47:24 2/13/23 Mon
Author: Jasper
Subject: My mind needs a second computer to help sort good from bogus.

.
Baseless Disinformation
What Yellen didn’t mention is that her path for avoiding a recession doesn’t exist. For starters, the BLS data is baseless disinformation. When the bogus “adjustments” the bureaucrats added are taken out it’s revealed that the U.S. economy actually lost 2.5 million jobs in January.

The roughly 3 million jobs that were added to show a positive increase of 517,000 jobs were completely fictitious. In reality, the economy is hemorrhaging jobs.

Dell Technologies, for example, is RIFing 6,650 jobs. They’re doing so because the demand for personal computers has abruptly evaporated. These reductions in force (RIFs) will reduce Dell’s global payroll by about 5 percent, bringing it to a six year low.

This comes as Boeing and Zoom announced layoffs of 2,000 and 1,300 employees, respectively. Similarly, Meta, Twitter, Google, Microsoft, Opendoor, and Amazon have all had recent layoffs.

These are high paying technology jobs that are disappearing. Adding low paying healthcare jobs at nursing homes won’t drive economic prosperity. Nor will adding government jobs, which are financed with debt.

According to tech job tracker layoffs.fyi, there have been nearly 260,000 technology jobs lost since the start of last year. What’s more, in 2023 alone, as of early February, technology companies have laid off over 98,100 employees.

https://www.zerohedge.com/personal-finance/living-lie

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