Starbucks recently laid off over 1,000 corporate employees, reflecting a troubling trend of higher unemployment rates and slower wage growth for white-collar workers. The shift in the job market has been attributed to the economic impact of the pandemic, advancements in artificial intelligence, and government policies targeting federal agencies supporting white-collar jobs. Industries like video games and finance have experienced layoffs, while the tech sector has seen increased automation leading to job cuts. The future of white-collar work remains uncertain, with concerns about permanent declines and the impact of evolving technology and government actions on employment rates.
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Trump Trade Policies and Federal Cuts Shake Consumer Confidence
Consumer confidence in the US has plummeted due to anxiety over the Trump administration's trade policies and government cutbacks, with the short-term economic outlook hitting a 12-year low. Tariffs on trading partners are expected to increase inflation, leading to a recent stock market sell-off and decreased consumer spending. Executives are warning of a potential pullback in spending, as uncertainty about tariffs continues to impact consumer sentiment and economic outlook. Full Article
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