Jobs Reminder: Silicon Valley Isn’t the Whole Economy

12/4/2022 6:30:00 AM

Despite recent layoff announcements in tech, there are still sectors without enough workers, explains @jdlahart #WSJWhatsNow

Despite recent layoff announcements in tech, there are still sectors without enough workers, explains jdlahart WSJWhatsNow

While tech firms and other pandemic beneficiaries deal with the consequences of their overhiring, other sectors still have a dearth of workers.

The first word on what Wall Street is talking about.While tech firms and other pandemic beneficiaries deal with the consequences of their overhiring, other sectors still have a dearth of workers Tech companies saw exceptional growth in both revenue and employee headcounts through the pandemic.Climate Jacob DeWitte, CEO of micro-reactor startup Oklo, says the landscape has changed dramatically since he started raising money in 2014, when he was a part of the Y Combinator startup incubator.Managing Editor, Silicon Valley Business Journal Dec 2, 2022 Updated Dec 2, 2022, 12:31pm PST Over the years, semiconductor technology has been used to make not just chips, but lights, solar cells and an array of sensors and storage devices.

PREVIEW SUBSCRIBE Some companies in areas such as tech, retail and logistics massively boosted head count after the pandemic struck and now appear overstaffed.But other sectors remain deep in a hole and are desperate for workers.WSJ explains the macro — and micro — reasons for the industry’s massive layoffs.That dynamic was evident in Friday’s report."I think having fresh perspectives is really good," Parsons told CNBC.It showed retailers shed 30,000 jobs, for example, and that the transportation and warehousing sector cut 15,000 workers.2, 2022 11:47 am ET America’s job engine might keep humming along, despite the.But the leisure and hospitality sector gained 88,000 jobs, and healthcare employment rose by 45,000.That's important, particularly in laptops.

Other services employment—a catchall category that includes things such as auto mechanics, hairdressers and parking lot attendants—rose by 24,000.And when you broaden that circle, you get a lot of new minds, different thinking, a variety of experiments.Those areas could be a source of job gains in the months ahead.The leisure and hospitality sector, which includes many businesses that were hit hard by the pandemic, such as restaurants and hotels, is still nearly one million jobs short of where it was before the crisis struck.Healthcare employment only recently eclipsed its prepandemic level, but considering the health needs of an aging population is probably still short of the workers it needs."Maybe that out-of-the-box thinking doesn't produce anything useful.To return to its growth trend in the 20 years prior to the pandemic, the sector would need to add over 800,000 workers.That brings to $136 million the amount Frore has raised since it was was founded in 2018.

The “other services” category is still nearly 200,000 jobs short of where it was before the pandemic, and would need to bring on more employees than that to get back to its prepandemic trend.Job gains in those sectors could absorb job losses elsewhere." Not everyone is so optimistic that the recent influx of venture dollars will lead to progress.Moreover, some companies that worry they have more staff than they need might be more reluctant to let workers go, knowing that in a still-tight labor market they might not be able to staff back up when they need to.A big question is how this all might affect wages.One possibility is that job losses in places such as retail might make it so places like restaurants don’t have to dangle offers of higher paychecks to get the workers they need." If investors are putting money into nuclear now, that's because they think they can make money, and "I can only think they believe they will make money because they think that there's a big opportunity to have the federal government pick up a big part of the tab," Oreskes said.Reach Power Inc.

But such a dynamic doesn’t appear to have unfolded yet—Friday’s report showed that average hourly earnings rose by 0.6% in November from October, putting them a robust 5.1% above their year earlier level.Nuclear investment by the numbers From 2015 to 2021, total venture capital deal flow in the United States increased 54% in terms of deals closed and 294% by dollar value, according to data compiled by private capital market research firm Pitchbook for CNBC.That is hardly a sign of a job market that is falling apart.Tech companies saw exceptional growth in both revenue and employee headcounts through the pandemic.Decibel and Okta Ventures also participated.

But now, they’re cutting thousands of jobs.Some of the rapid pace of increase in investment in the nuclear sector is explained by its starting point — virtually zero.WSJ explains the macro — and micro — reasons for the industry’s massive layoffs.Write to Justin Lahart at.

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FakeNews Somebody's gotta stock the shelves, barren as they may be some weeks. jdlahart All the 1100000 people that have succumbed to Covid virus were not unproductive, unprofitable, senile citizens. jdlahart The 1100000 people that have succumbed to Covid virus is composed of not only unproductive, unprofitable, senile citizens.

jdlahart I’ve notice layoffs in journalism too😝

Jobs Reminder: Silicon Valley Is Not the Whole EconomyWhile tech firms and other pandemic beneficiaries deal with the consequences of their overhiring, other sectors still have a dearth of workers. jdlahart Entire Biden admin is a farst! There's always tacobell as a fallback...atleast you get discounted food!

Why Silicon Valley is so hot on nuclear energy and what it means for the industryThe amount of money private investors are putting into nuclear energy has never been seen before in the U.S. Here's why, and what it means for the industry. 😂😂😂

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