Mega-Companies Messed Up America’s Job Market. They’re Doing it Again.

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Part of what has made America’s job market so tight is that big, publicly traded companies hired like crazy after the pandemic struck. Now that many are slamming into reverse, it seems like there is a wave of unemployment under way.

Amazon.com , Disney and Facebook parent Meta Platforms are all suddenly recognizing that they overhired .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;} and are firing workers . For the people affected, job losses are horrible. But when it comes to the job market, rather than thinking of these layoffs as a sign things are falling apart, they might be an indication that it could come into better balance.

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.css-mbn33i-AuthorLink{color:var(--interactive-text-color);font-style:var(--font-style-italic);}.css-mbn33i-AuthorLink:hover{-webkit-text-decoration:none;text-decoration:none;} Justin Lahart .css-gmqp3n-FollowButton{display:inline;margin:0 8px;}.css-gmqp3n-FollowButton ufc-follow-author-widget:not(.hydrated){display:inline-block;width:60px;} print. Listen to article. (3 minutes) Part of what has made America’s job market so tight is that big, publicly traded companies hired like crazy after the pandemic struck. Now that many are slamming into reverse, it seems like there is a wave of unemployment under way. Amazon.com , Disney and Facebook parent Meta Platforms are all suddenly recognizing that they overhired .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;} and are firing workers . For the people affected, job losses are horrible. But when it comes to the job market, rather than thinking of these layoffs as a sign things are falling apart, they might be an indication that it could come into better balance. Continue reading your article with a WSJ membership. Already a member? .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;} Sign In. The Motley Fool : New members save 55% on Stock Advisor. The Motley Fool : Wayfair : Wayfair Black Friday Coupon: 30% Off. Wayfair : American Eagle Outfitters : 3 days only - Save 30% on everything! American Eagle Outfitters : Kohl's : Kohl's coupon - 30% off sitewide for Rewards members. Kohl's : Walmart : Walmart coupon: $20 off your $50+ order. Walmart : Chase : Get up to $625 unlimited commission-free online trades. Chase :