Quote from: free-bit.co.in on May 31, 2025, 02:52:46 PM

Quote from: el kaka22 on May 30, 2025, 07:12:40 PM

Wish it was seven "thousand" like the topic name says. It's 7 million. By comparison, the total amount of employed people in all of USA is about 160 million, that means losing 7 million jobs, would make it 155 million give or take, that's nearly 5% gone in a single bad deal.

And the total unemployed people are 7 million already, so that means it would double. That is not okay and we can't really consider that as good at all, we are seeing that being a terrible thing and we can't consider that as good. He is not going to care though, he is doing something and he will find a way to say that he did something great and if anything bad happens he will just blame it on Biden or democrats or whatever else scapegoat he could find.

It is not something like 7 million people lost their job. employment opportunities in the global market are continuously declining. ILO recently revised its previous global employment growth rate forecast, stating that by 2025, 53 million new job opportunities might be created, which is 7 million lower than the previous prediction. The main reason for such decline is ongoing geopolitical conflicts and rising trade tensions.

Oxford Economics is blaming US-China trade war for the biggest reason behind the decline in job creation in the global market. They published a study recently that said the US-China trade war has led to a peak loss of 245000 US jobs.

If USA and China can take effective steps to reduce such tariffs between them, it will be able to increase job creation in the global market, which will improve the economic situation and at the same time help increase economic stability in the global market.

Even if you solve all problems that are derived from the tariff war, you still have to think about the AI problem: Not only the more mechanical jobs are being automatized for years now, but now with the AI becoming better it will be even more difficult to find jobs. The CEO from Crowdsource said like 50% of their company is now AI run. So that is 50% less jobs on a single company. This will only get worse. At some point it will be impossible to get a job, so I don't know how they pretend to solve this, unless they give a universal basic income, otherwise we will have civil unrest and then we will have a lot of angry people with pitchforks and torches demanding a solution.