I feel bad for both laid-off employees and recent graduates who are in a rather uniquely awful position right now. Just think about it, they all need a job desperately and nobody is hiring. Those few who are looking for employees have the advantage of a market flooded with highly qualified employees trying to get back on their feet, so they can get great employees for ridiculously low prices. I've never been more grateful to still have a job.
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Maybe your theory will be proven during your own LR.
First, no theory was postulated. Anyone who lived through real inflation with a working neuron isn't going chicken little in this economy. The economic figures provided are simple facts. The idea that people who don't like capitalism don't like capitalism is a tautology pointing out the cognitive dissonance in people who claim to believe in it but in taking no personal responsibility expect someone or something else to take care of them for the rest of their lives.
When Cisco shut down half my building I like the other competent people had offers long before the final day. There are many companies out there that don't have household names doing work at levels far higher than most at Cisco can do. You'll need an excellent professional network as well as real skills to find an in and that means work on your part.
I know engineers that fit Cisco's job descriptions for "Engineer 1-3" over 60 years old getting jobs, so there are definitely jobs to be had and there aren't enough young people to fill what are really near entry level jobs. On the other hand you aren't going to a top 5 tech company that advertises a half million dollar salary having spent 20 years at Cisco checking in five line bug fixes or writing wildly incorrect white papers. I'm empathetic to the good with life circumstances beyond their control clobbering them, but the rest of the good will get jobs and they will grow from the broader experience that provides. I'm not empathetic to the bad who made no effort to remain employable whining that everything is someone else's fault.
How's about a nice six month stint cleaning bathrooms and working fast food? Maybe your theory will be proven during your own LR.
Clearly there are a lot of children who never lived outside an artificially constrained near 0% interest rate environment. The US has lower inflation and higher growth than any other G7 country, which in a global economy is good.
If you can't handle companies charging customers the most the market will bear and paying employees the least the market will bear capitalism clearly isn't for you. Layoffs have been a structural piece of the economy to insure the latter for the past 40 years..
It's not the best job market but it's also not the worst. 2008 was sheer brutality and yet the work at Cisco was so bad some people who couldn't get laid off quit to take jobs at a 30-40% cut just to be rid of the place so if you are competent you have to address some tradeoffs, and if you're not you're in trouble.
Nostradamus prophecies: Biden passes away in 2051 due to software bug, Kamala takes over in 2052 & rules the Northern Hemisphere with an iron fist, at that point everybody already wearing G-strings due to sweltering global heat.
So many people rested on their laurels for years, content with outdated skills that weren't really good skills in the first place.
There are stable jobs out there and places to get hired. The problem is many of these workers created a lifestyle on a certain salary that they will not get again. Living below your means, not buying that $100k car when you get a $10k bonus, not buying a $800k home that requires insane salary. There are plenty of jobs in the government, but people see the salary and say no way. I got laid off, took a 20% pay cut. The medical benefits for the family were cheaper, same 401k matches and pension, etc. When I got my first paycheck, it was only about 10% less. We made it work. It took 2 years to get back to the same take home level. On top of that, usually 3-5% pay raise each year, a pension after 15-years will pay $2000 per month. A pension from the wife of $2,700 we will have a good retirement that I could not achieve staying at these tech firms. With SS, we will have $7k-$8k every month, fully paid off house. Cant ever do that in a tech company where you have to worry about a job every 3 months.