Classifieds

Commentary
Finally we seem to be hitting on a phrase to describe, at least in part, a feature of the current economic environment. The phrase is white-collar recession. It points to a reality these pages have covered in detail over the last year. The professional/managerial sectors of the U.S. economy were inflated beyond anything sustainable. They are now deflating with enormous cultural consequences.
The layoffs throughout the entire tech sector are mounting by the day but they aren't creating much public worry yet. That's because it is not yet showing up in the unemployment data. Moreover, most of the people being tossed out of Amazon, Facebook, Microsoft, Salesforce, and many financial-services companies are finding other work, which of course they would, for now. Still, there is growing anxiety in these sectors that there is a long way to go before the shakeout is complete....