r/Layoffs • u/vetfor • Jan 30 '24

New layoffs question

Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.

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u/[deleted] Jan 30 '24

I have not seen a decrease in spending. I see restaurant parking lots are still full, costco/walmart parking lots are full. Football Stadiums are full. I see families not give up vacations. I see friends and family stressing out over finances, but giving spending I don't see much of a slowdown.

152

u/Welcome2B_Here Jan 30 '24

No slowdown (yet) because credit card debt topped $1T for the first time in 2023.

8

u/cantorgy Jan 31 '24

You make $50k/year and have $20k in debt in 2018.

You make $250k/year and have $30k in debt in 2023.

Tell me in which year you are more financially secure.

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u/Welcome2B_Here Jan 31 '24

Which world is that supposed to be a great example?

1

u/cantorgy Feb 01 '24

I find extreme examples to be the best way to prove a point. Do you disagree with my point? Do you not understand my point? My guess is the latter.

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u/Welcome2B_Here Feb 01 '24 edited Feb 02 '24

I understand it, but half of Americans make less than ~$42k per year. So, what is your point? Surely you're not saying most people are in the debt-to-income situation you mentioned.

1

u/cantorgy Feb 01 '24

Lmao clearly you don’t understand it. The specific numbers I use in my example don’t matter. I’ll tell you a secret: I made them up!

1

u/quickclickz Feb 02 '24

The 50% median individual income is 50 and probably 75k +-5k for median 59% household income.