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FILE PHOTO: A Twitter employee works at a computer at the company's...

Big Tech layoffs are dystopian job-market fiction

Layoffs at technology giants including Twitter, Amazon.com, and Meta Platforms mark the first large-scale job cuts since early 2020. After years of falling U.S. unemployment, it might seem like Silicon Valley is foreshadowing the beginning of a dystopian future for workers. Yet there’s a good chance that what happens in Silicon Valley won’t spill over into the rest of the economy. 

A bicycle courier from Uber Eats rides his bicycle during the heatwave in...

Inflation has gig economy perk: more side hustlers

Some members of the shared economy are seeing a resurgence in the side hustle as inflation bites. People are becoming more interested in driving for Uber Technologies and listing their abodes on Airbnb in order to make an extra buck. That is a pleasant shift for the marketplaces that rely on sharing workers or spaces. And at least for now, demand for the services is keeping up.

Figurines with computers and smartphones are seen in front of Twitter logo...

Axing the tweeps

Elon Musk isn’t messing around. Twitter’s new owner said earlier this month that he would eliminate 75% of the social media company’s 7,500-person workforce once he took over. He already has shown several senior executives the door, including former Chief Executive Parag Agrawal, and the Washington Post reported on Monday he was starting with a quarter of the employee base. Writing up pink slips en masse will have a ripple effect across Silicon Valley.

A bicycle courier from Uber Eats rides his bicycle during the heatwave in...

Gig worker rule comes at bad time for gig economy

The road ahead could get even rougher for the champions of the gig economy. President Joe Biden’s administration is seeking to turn some independent contractors into employees. Workers are already scarce, and inflation is squeezing consumers. Higher costs threaten long-awaited earnings at companies like Uber Technologies, Lyft and DoorDash.

A sign for hire is posted on the window of a Chipolte Restaurant in New...

Corporate America may be overstuffed with workers

The U.S. job market is still hot, and that could be a weakness. The unemployment rate in September was a healthy 3.5%, according to the Labor Department on Friday, a decline from the 3.7% jobless rate in August. Wages ticked up as well, rising 0.3%. This shows some strength in the economy, just as Federal Reserve Chairman Jay Powell furiously hikes interest rates to fight inflation. A workforce reckoning is in making.

FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses in...

Fed's Daly: 'Comfortable' with 4.5%-5% Fed policy rate in 2023

San Francisco Federal Reserve Bank President Mary Daly on Thursday said she believes it will take raising interest rates to a 4.5%-5% range and holding them there through the end of 2023 to get inflation under control, but said she could support doing more if inflation doesn't fall as expected.

SALT hedge fund conference in NY

Silicon Valley’s post-Covid brain drain: podcast

Before the pandemic, 75% of venture capital was invested in California, New York and Massachusetts. In this Exchange podcast, AOL co-founder Steve Case explains that a hybrid working revolution is reversing that trend and encouraging permanent investment away from the coasts.

FILE PHOTO: An eagle tops the U.S. Federal Reserve building's facade in...

Fed dataflow: Summer data trove gave little clarity

Federal Reserve officials convene on Tuesday for their next policy meeting after an unusually long eight-week break since their last gathering, and a larger-than-normal amount of U.S. economic data to review.

BNSF and Union Pacific train engines stand  on tracks n Orange, Texas,...

U.S. railways steer clear of crisis

The narrowly averted shutdown of U.S. rail services should avoid widespread economic damage, at least for now. Major railroads including Union Pacific and BNSF struck a tentative deal with unions for better working conditions and pay early on Thursday, after lengthy talks hosted by President Joe Biden’s administration https://www.whitehouse.gov/briefing-room/statements-releases/2022/09/15/statement-by-president-joe-biden-on-tentative-railway-labor-agreement/. 

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