Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Biden's labor secretary says he's watching tech layoffs closely, but for now it's still a good time to find a job

Biden's labor secretary says he's watching tech layoffs closely, but for now it's still a good time to find a job

Labor Secretary Marty Walsh said he's not sure if the tech layoffs will be an issue for just a couple of months, or a longer-term situation.
The job market is booming, even if it doesn't feel like it. The country added over half a million jobs in January, well above economists' expectations, and the unemployment rate fell to its lowest since 1969.

It might feel contradictory, with thousands of layoffs sweeping across the tech and media sectors. But the data shows that layoffs are not spreading to the broader economy, indicating that some sectors are just dealing with their own adjustments.

Even so, Secretary of Labor Marty Walsh is keeping an eye on the situation.

"We're watching that closely to see what that means for the tech sector," Walsh told Insider. "I'm not sure if this is a couple of months issue or is this a longer term situation, but we're watching that closely." Walsh said that "we're seeing a lot of those folks who are being laid off are going back to work in the private sector."

Walsh is not sold that apocalyptic predictions about economic conditions are going to come true. While the economy probably won't add over half a million jobs every month, he said, gains have been consistently strong over the last 12 months.

"I'm not in the camp that we're heading towards a recession or downturn in the economy. There might be certain sectors that might be hit a little harder than others," he said. "We have to continue to watch this and, and hopefully we continue to see good, strong growth throughout the year."

And for those who are laid off or job hunting, Walsh wants them to know that "there's work out there." Just look at today's report: Hospitality and business services are hiring an "incredible amount," he said, and there's "options out there for people."

Other sectors Walsh sees opportunity in: Construction, especially with the bipartisan infrastructure bill doling out billions; healthcare, especially in eldercare and assisted living facilities; nursing; and cybersecurity.

That doesn't mean that you should necessarily quit for a better deal. Even with over 4 million Americans quitting their jobs, Walsh doesn't want the emphasis to be on the Great Resignation — he said he doesn't believe in terms like that — but instead on companies shifting more towards retaining the workers that they do have.

"Ultimately, what we'd like to see is sustainability in the job place. I think a lot of employers are seeing that," Walsh said.

That might be part of the reason that the jobs report is so robust, according to Walsh. Employers are keeping around people, rather than laying them off as they would have in the past.

"When companies had to lay people off at the beginning of the pandemic, they had a really hard time getting people back," Walsh said. "I think that the lesson is learned from that experience."
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×