Not only that it's important to remember that a lot of people are being shifted around.
For example, Microsoft regularly had hundreds of job openings before the downturn. So if they make cuts now the cut employees are going to take those other open jobs. That gives you a massive drop in listings from Microsoft even though no one actually became unemployed.
I mean, there are clearly fewer jobs out there and I'm not saying things aren't bad. I'm just saying a drop in listings probably isn't the best indicator of how bad.
I don't see the difference. If Microsoft fires and rehires 200 employees, and therefore hires 200 less from outside, how is that different from Microsoft not firing anyone and hiring 200 less from outside?
For example, Microsoft regularly had hundreds of job openings before the downturn. So if they make cuts now the cut employees are going to take those other open jobs. That gives you a massive drop in listings from Microsoft even though no one actually became unemployed.
I mean, there are clearly fewer jobs out there and I'm not saying things aren't bad. I'm just saying a drop in listings probably isn't the best indicator of how bad.