All the layoffs aren't an indication we're nearing a recession? Yes unemployment is currently low but I see that turning around in a big way imminently
Layoffs in tech. Not hearing much about other parts of the economy. Totally possible I haven't seen the reporting but I'd argue that tech/growth industries suffering layoffs don't really indicate a recession by itself even if they are large.
You're not missing anything. The Fed is on record that the economy is doing great, unemployment in the economy as a whole is non-existent, so it's going to continue raising interest rates. When your CEO tells you that we're in a tough economic climate, what she's actually saying is that we're in a tough monetary policy climate. The economy is (currently) fine.
Expect the pain in tech to get worse, much worse, before it gets better.
> All the layoffs aren't an indication we're nearing a recession?
No. The layoffs are really just in tech, and a fairly specific subset of tech companies at that. They are happening as a result of poor hiring decisions those companies made (hiring too many people).
The layoffs too date are much smaller than the Covid-era hiring. Certainly a bit of a correction. But otherwise spending and jobs overall are still strong. So... which way will it go?
I'm sure some would like to replace domestic workers with H1Bs they weren't allowed to bring in for two years. Manufacture a skilled worker shortage and it all works out in their favor.
The rest of the economy appears to be doing just fine.
Since tech has had many years of growth while the rest of the economy has suffered don't expect much sympathy for laid-off tech workers.