Topic: Recession soon? - page 7. (Read 1346 times)

agree with that. AI has advanced quickly and companies are preparing to just implement AIs and robotics. the layoffs are just the start because in my country the rivers seem to have dried up and rice fields may not produce enough rice to provide for the country. recession is nothing compared to what's coming. because sooner the strong countries are going to be plundering the weaker countries to get more resources.

the news is often just about wars and negative reports are distractions that people will not mind the recession.

the global economy is seriously in a messy situation right now and it's sad that most news headline is centred on wars, crime and negative reports in the business world. A I had also joined in contributing to the laying off of somany workers because of the need to cut down cost and coupled with the how most jobs could easily be replaced with th AI, it sure breaths out threat to all working population to tighten thier seat belt and put in extra effort if they have any plans of continuing in the jobs they are currently doing.

It depends on your country. Layoff from work doesn’t mean a recession because some companies might just not performing well due to competition and less profit from the market. The only time layoff is a sign of recession if your country is already printing multiple down on GDP while many companies from different sectors is doing the same.

I encountered many big time layoff on my previous company since we don’t have enough client that provides work for people. But are companies just keep hiring back once clients is already entering again to avail our service.

You should verify the cause of layoff first before you assume recession because this layoff might be affecting only your company and not the general businesses on your country.

There's been a slow recession going over for years now. There are no outright crashes and some stock markets are making their highs, yet the economy is not active it were pre-covid. Could be due to pandemic, job loss, increased fuel and energy price and decreased consumerism, the demand for products and services are on decline. Less and less people are traveling or buying gadgets. It might even be due to the saturation but the global demand for smartphone have sharply decreased. So are the demand for other electronic gadgets.
People also seem to be saving for uncertain future, war and conflicts around the world has increased risk of global detachment and food crisis.

We have been hearing for quite some time now that we will soon have a global economic recession. We already know that the global economic recession will occur but we do not know when the global economic recession will occur. At present the economic situation is getting worse day by day and it is believed that a global economic recession may occur very soon. We are trying to be forewarned that global economic recession will occur but how much preparation have we taken to survive the economic downturn. If we don't have enough preparation then we need to take enough preparation while there is still time so that we can survive the bad economic times.

Exactly there was definitely a scare of inflation coming in the second quarter of the year 20222 the signs were clear when inflation raised and the economy growth was definitely slowing down. The year 2023 after what happened in 2022 was definitely declared by some experts to be a year threatened with recession but along the line through the increase of interest rates they actually went down and as the economy growth started increasing the rates were then not later increased from last quarter of 2023 until now which indicates that the recession scare is down

But still it is not yet ruled out if we actually face an interest rate increased again and that’s why companies are relaxing workers. It is better to be prepared but definitely we are under recession or facing that in like few moths from now

In my opinion, there was an actual risk of recession during the year 2022 and 2023, but it was avoided, nowadays we can see economical indicators (specially in countries like the United States) which point out the market / companies are doing pretty good, even Meta/Facebook has been able to recover much of its stock value after the Metaverse fiasco. If I had to guess on what could be going on, it may have indeed something to do with over-hiring by companies in the United States.

Do not get me wrong, though, a recession could be still possible in this context of unemployment in the United States and high value of the Stock market, but it would take something extraordinary to happen for it to start. A next recession may be inevitable, but it does not have to happen this year or the next next one.

I don't know, but what if it's a local economic phenomenon and not a global recession? I expected a recession in 2020-2021, but that didn't happen. 2022 was very challenging, primarily because of Russia's invasion of Ukraine and the sanctions that followed it, but even that wasn't a recession. Then I feel like 2023 was a year of recovery, and according to the World Economic Forum, the risk of global recession in 2024 is lower (than it was in the years before, I suppose). Growth is expected, even though some projections are for less growth than in the past.

Maybe the country you are in still has a good economy, because I don't know what recession we are expecting when we are already in one. The present economic situation is frightening. The current middle-class people are no longer to be called middle-class people because they are still earning the same amount monthly. I may consider them to be poor unless they have stepped up their game. You have to earn more before you can live comfortably in this economic problems.

How the whole world has been stunned after COVID.It has affected almost all developed and underdeveloped countries.However, developed countries have overcome its impact, but underdeveloped countries have not yet overcome its impact.  Many companies have laid off people.And they are still unemployed which is very disappointing.Due to this, the unemployment rate in the countries has increased. Countries are starting to get poorer.On top of that, the increase in the price of everything has made public life more dangerous.

We entered "unofficial" recession 2 years ago, technically speaking. The lay-offs is also not something new, it started about 2 years ago and the biggest lay-offs took place during the peak of the energy crisis as deindustrialization was happening.

Then as governments tried to desperately battle inflation by increasing interest rates they practically guaranteed recession. Every day interest rates remain high, recession gets deeper.

In other words we are already in recession but depending on a lot of factors, it could get worse or better. For now it is taking a turn for the worse.

Some countries have confirmed they have fallen into recession but that is not the case with every country in the world. According to some information I learned, layoffs and unemployment are not entirely due to the economic recession but are due to changes taking place in the world. I mean technology is evolving and AI is gradually replacing humans in many fields.  There are some theories that: financial reports of corporations and companies show that the company is still bringing in quite stable revenue but at the same time they are looking for ways to reduce personnel. From there, there is a hypothesis that companies are applying technology, robots, and AI to gradually replace workers, not because of the economic recession.

Definitely, there are some challenges these large organizations are laying off people I mean literally those who has helped build the organization and while being optimistic that the situation will change just like it did towards the end of COVID as we saw around 40% global manpower shift happened as people switched there were good opportunities but now the situation is different but the only lesson we need to learn from this is that we should never limit ourselves to 9-5 jobs and should have investments which should help us to cope up with such untoward situations in the future. Depending on job for all our needs will be like fooling us as companies can change us anything them wish and we need to be smart enough to understand this and have a back up plan.

This again? The recent lay-off are a return to normal after the madness in hiring
https://edition.cnn.com/2023/01/22/tech/big-tech-pandemic-hiring-layoffs/index.html



Something happening to a group of people in a city or a country is not a sign of a global recession!
US:
Despite high-profile layoffs, January jobs report shows hiring surge, low unemployment
EU:
Eurozone unemployment returns to record low of 6.4%

And since I saw that you posted in India's subforum:
hits a record low[/u] but remains steep among educated youth]=https://www.cnbctv18.com/education/india-unemployment-rate-hits-record-low-but-remains-steep-among-educated-youth-18322091.htmIndia’s unemployment rate hits a record low but remains steep among educated youth

I don't think so. With elections in the USA and a change in central bank policy it does not look like it will be a year of recession. There are always layoffs, the question is whether there are more layoffs than new jobs being created and it doesn't look like that will happen in the USA, which affects most of the world economy:

Big US jobs rise in January surprises again


Such as the introduction of machinery in industry or agriculture, which reduced jobs momentarily but still increased productivity.

recession is just a word, dont fear it

recession does not describe the current season, nor future seasons
recession is a word used to describe how the PREVIOUS season performed
meaning when they say something is in recession they are talking about the past.. meaning its already behind you
you wont know if this season is in recession until after it has happened and then they look back and declare it

so dont worry about the word, it becomes meaningless as soon as its declared

as for your friends/colleagues "not finding a job"
most of the time people set their standards too high and only look for specific same field/role jobs that are higher income then the one they had.
they treat unemployment as a opportunity for a pay rise, and ignore many roles that dont fit their high standards
thus limiting their options based on higher expectations than they used to experience

there are jobs, just maybe not doing the exact same role for more money.
so your friends should take a harder look at their skills and knowledge and expand their prospects into different industries where they can find better pay jobs doing something slightly different
emphasis: see what skills and knowledge they have and see how it can be transferred into something else
EG if they enjoy leadership, training positions but have only experience of being a leader in IT. look for any role thats involves training/leadership, but not just in the IT sector, expand their view of the whole economic market of employment

or if money is really tight due to unemployment social security being the only income.. taking ANY job is better then the poverty line income from social security

During the Covid-19 pandemic, many workers were laid off, apart from health reasons and efforts to prevent infectious diseases, but on the other hand, the economy and trade were also sluggish, causing many companies to go bankrupt. However, at the same time, even though the economy is running slowly, this is not the case with the acceleration of technology and digitalization, where at that time many human jobs were replaced by machines and robots, and even though the pandemic has ended, this continues and even today. So those who were laid off during the previous pandemic could not return to their original jobs because they were replaced by machines and robots.

As part of addressing the recession and preparing ourselves, we should learn how to live within our means, save, and invest wisely. Moreover, we need to possess skills that machines or robots cannot easily replace so that we can secure a stable income for our survival.

When large organisations begin to lay off workers in large numbers, it should give a great concern. This could only be point to the economic down turn as everyone is saying.
Op saying if recession is in view is surprising to me. Because where I came from, we have never resuscitated from the effects of the covid 19 recession.
Also one of the causes of the viral downsizing of the larger organisations could be the speedy advent of Ai

The harshest thing I can say is that employees being laid off is not a cause of recession exactly.  If the company works better with less people employed and as a reduced cost to that business then the industry is improved and recession less likely overall.   Its ironic perhaps but some jobs must be refined and figures reduced of those employed and this is actually a positive.

Its one of the things people dislike about company dynamics, laying off employees can boost a company share price as its see as sensible cost cutting and ensures confidence in their long term success possibilities.   Presuming they can carry out the same work with a good margin to continue business of course.   The markets are global not national, this has been true for decades now.

Some of the reasoning was first outlined towards the idea of comparative advantage by Adam Smith in Wealth of Nations 1776 and apparently David Ricardo who I dont know or havent read of as often.   Anyway both are quite relevant to forces ongoing in modern economies.

Yep, many large and prestigious organizations are laying off employees, leading to concerns about a possible economic downturn. But I'm also not sure about the causes leading to this situation, issues such as the reason for layoffs due to reduced consumer demand, forcing businesses to cut costs, including human resources. Or that companies are over recruiting and unable to meet employee salaries, and the changes of recent years have forced many sectors to adapt to change in order to survive. Besides the problem of high inflation, it can affect consumer spending and force businesses to cut costs.

The fact that many large companies are laying off employees may be a sign of some economic challenges, although the extent of the impact of each factor is still unclear, but there is still a strong optimistic attitude to adapt suitable for all situations.