4.7 • 1K Ratings
🗓️ 6 January 2023
⏱️ 15 minutes
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0:00.0 | Hello fellow rebel capitalists hope you're well breaking news the jobs numbers just came out and the market is shocked in fact I'm shocked once Once again, the numbers surprised to the upside. Let's go right over to |
0:16.8 | CMBC and check this out. So first, before we get into the article, I want to show you how |
0:22.4 | interesting, for lack of a better word, the home pages. |
0:26.0 | We're going to get into this article right here title, US Private Payroll Growth, surged by 235,000 jobs in December, well above estimate, ADP reports. |
0:39.5 | But then if you go down, two three four five stories. |
0:47.6 | So it's just two hours ago, we have a story. |
0:52.2 | Amazon says it will cut over 18,000 jobs more than initially |
1:00.2 | plan. If you've been watching this channel or my whiteboard videos, you know that I've been talking about this quite extensively. Prior to the survey's sickness, in fact just prior, Amazon had about 800,000 employees. |
1:14.8 | Now, 1.6 million minus 18,000. |
1:20.0 | And they came out maybe a month ago and said that they were going to lay off like 10,000 and then turned to 12,000. Now we've got 18,000 and I kind of threw it out there on a tweet last night |
1:33.6 | that by the end of 2023, |
1:35.4 | because you got to think all the 800,000, |
1:37.8 | most of that, I shouldn't say all, |
1:39.9 | most of that was a result of this fiscal sugar rush from the government spending, which is temporary. |
1:46.9 | But the people at Amazon, they don't know that. |
1:49.2 | They don't watch my whiteboard videos. |
1:50.9 | So they're thinking this demand is just going to be there forever. The |
1:53.8 | economy's booming, it's on fire. So they hire an extra 800,000. Now they're like, whoa, |
1:59.0 | time out. Demand is plummeting. So what I threw out on Twitter |
2:04.2 | is that by the end of 2023, |
2:06.2 | Amazon could have a lot closer to 800,000 employees |
2:12.1 | than they have 1.6 right now, 1.6 million. |
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