June 2022 employment report

[Axtremus]

https://www.cnbc.com/2022/06/03/jobs-report-may-2022-.html

May numbers look better than expected nationally, still at historically lowest unemployment rate.

Some high profile, forward looking bad news from Elon:

https://www.reuters.com/technology/exclusive-musk-says-tesla-needs-cut-staff-by-10-pauses-all-hiring-2022-06-03/

Apparently Elon (1) threatens all employees to return to office full time or get fired, (2) institutes a hiring freeze at Tesla, and (3) tells managers to cut 10% of employees.

[Horace]

@Axtremus said in June 2022 employment report:

https://www.reuters.com/technology/exclusive-musk-says-tesla-needs-cut-staff-by-10-pauses-all-hiring-2022-06-03/

Apparently Elon (1) threatens all employees to return to office full time or get fired, (2) institutes a hiring freeze at Tesla, and (3) tells managers to cut 10% of employees.

I hope Mr Musk plans to compensate his employees above-market. Unless he has plans to reward people for working in that sort of environment that is not found at other large tech companies, he will walk point 1 back. It's not as if his rank and file engineers and developers are next in line to get blown by Amber Heard.

[Axtremus]

Chart on “working remotely” by Axios based on BLS data:

https://www.axios.com/newsletters/axios-closer-615ca79a-bcb5-4286-b1b7-6549dbf594ce.html

[Horace]

@Axtremus said in June 2022 employment report:

Chart on “working remotely” by Axios based on BLS data:

https://www.axios.com/newsletters/axios-closer-615ca79a-bcb5-4286-b1b7-6549dbf594ce.html

Musk needs to worry about the job market for his target employees. Not this massive statistical amalgamation.