The “average” investor gets paid cash and not in stock.
The public tech company employee has less to invest because a large portion of their income is in stock.
The private tech company employee is screwed because statistically, they have equity that won’t amount to shit in a bull market let alone a bear market.
The "average" investor is in jobs less hit by typical recession/down market impacts, since the odds of a hospitality worker or barista having a retirement account in the first place is much lower than the odds of a white collar employee.
The point of comparison would be average reduction in investment vs average reduction in stock price. It’s true people invest less, but stocks take much larger drops than the reduction in the workforce.
Are you arguing that the stock market is not correlated with unemployment? That’s a weird and plain stupid hill to die on because anybody can disprove it with 3 seconds of googling.
The public tech company employee has less to invest because a large portion of their income is in stock.
The private tech company employee is screwed because statistically, they have equity that won’t amount to shit in a bull market let alone a bear market.