There’s Nothing in the Jobs Report for LinkedIn Users
By Jeff Altman, The Big Game Hunter
Despite the crowing we will hear and see from the government and media, if you’ve been the victim of a LinkedIn User Staff Reduction (LUSR), there is nothing in the report that you should be excited about.
The headline number is 275000 new jobs. Let’s dig deeper:
Health care added 67,000 jobs
Government employment rose by 52,000
Employment in food services and drinking places increased by 42,000
Social assistance added 24,000 jobs
Employment in transportation and warehousing rose by 20,000 (17000 messengers and couriers)
Construction +23,000
Retail trade employment +19,000
At the end of the report, they snuck in this admission:
The change in total nonfarm payroll employment for December was revised down by 43,000, from +333,000 to +290,000, and the change for January was revised down by 124,000, from +353,000 to +229,000. With these revisions, employment in December and January combined is 167,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
You are paying for many of the jobs being created (government and government-adjacent jobs). There is little for most LinkedIn users. You need to keep grinding and not spend a lot of time feeling bad about being out of work.
Ⓒ The Big Game Hunter, Inc., Asheville, NC 2024
