Levels.fyi Community
Nin3kmc92lJce in  
Human Resources 7 months ago

Are we really in a recession or are tech companies (and their investors) just freaking out?

According to reports, the US unemployment rate remains at 3.6%, 372,000 jobs were created. Professional services, research, and management fields all grew. With the summer in full effect, transportation, leisure, and hospitality also trended in the right direction.


While major tech companies (FAANGs) and speculative industries like finance and crypto took huge hits, people are still working, companies are still hiring. I think this is more of a correction because of the rapid growth these companies tried to force and now people who got in are being forced out.


Hopefully everyone lands in a great spot. I'm hopeful things will improve in the Fall.

 Employment Situation Summary - 2022 Q02 Results

Employment Situation Summary - 2022 Q02 Results

bls.gov
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venetiaSoftware Engineer 7 months ago
I feel like it really wasn’t, but then these companies decided to let go of dead weight employees under the guise of “market conditions”

So essentially now turning it into one.
1
J916JdhuKe7Management Consultant 7 months ago
🛎 🛎 🛎 we have a winner! 🎉🎉🎉

The overreaction has helped news cycles for sure.
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