It seems the media narrative that the Biden economy was in good shape was beginning to crack as Tuesday NBC Nightly News ran a segment about how many companies were starting to lay people off and rescind job offers they made to recent college graduates due to the worsening economy under President Joe Biden’s stewardship.
“Unemployment is near 50-year lows, but some employers are getting worried about a slowing economy and taking on new hires. And it's falling on the newest members of the workforce, with some college grads losing job offers after they accept them,” anchor Lester Holt explained during the opening of the segment.
Picking up where Holt left off, business and data reporter Brian Cheung highlighted the story of a young college graduate from the University of Virginia who received a job offer from a tech company in San Diego only to have it pulled out from under her because of the poor economy.
“Weeks after graduating from the University of Virginia, Lilliana Nabhan's bags are packed to move across the country for her first-ever job at a tech company in San Diego,” Cheung reported.
“But just days before graduating, the company that hired her said it was pulling her job offer,” he added.
Cheung revealed that “Nabhan is among a group of young job seekers increasingly sharing stories about landing jobs, only to have those job offers rescinded. Rescinded offer comments have risen 50 percent from last year on Fish Bowl, a networking platform operated by job site Glassdoor.”
This wasn’t just according to social media postings on Glassdoor According to Cheung, “Companies like Meta and Amazon have acknowledged pulling job offers as they also lay workers off with concern about a slowing economy.”
“LinkedIn says hiring for entry-level jobs requiring a college degree is down 45 percent this year. And some with firm offers are being told to wait to start,” Cheung added.
Thanks to the pending recession, Nabhan told NBC that she’s planning to “pick up a waitressing job somewhere, or maybe just take some time to kind of pivot and really figure out what I want to do.”
Things have now gotten so bad that college-educated Americans are forced to wait tables.
It only took the leftist media a year to admit the economy was suffering. Will they keep telling the truth? Or will they go back to gaslighting Americans to help Biden’s electoral prospects?
To read the transcript click “expand”:
NBC Nightly News
6/6/2023
6:51:13 p.m. EasternLESTER HOLT: Unemployment is near 50-year lows, but some employers are getting worried about a slowing economy and taking on new hires. And it's falling on the newest members of the workforce, with some college grads losing job offers after they accept them. Brian Cheung has the story.
BRIAN CHEUNG: Weeks after graduating from the University of Virginia, Lilliana Nabhan's bags are packed to move across the country for her first-ever job at a tech company in San Diego.
LILLIANA NABHAN: So I was just mostly excited to get started with my career.
CHEUNG: But just days before graduating, the company that hired her said it was pulling her job offer.
NABHAN: Hearing that I was gonna have to go back to the drawing board and refind a job was, you know, obviously really disheartening, especially it being so close to my college graduation.
CHEUNG: Nabhan is among a group of young job seekers increasingly sharing stories about landing jobs, only to have those job offers rescinded. Rescinded offer comments have risen 50 percent from last year on Fish Bowl, a networking platform operated by job site Glassdoor. Companies like Meta and Amazon have acknowledged pulling job offers as they also lay workers off with concern about a slowing economy.
DANIEL ZHAO (GLASSDOOR LEAD ECONOMIST): It's largely a reflection of what we're seeing in the broader job markets. So this tends to be more white-collar-related roles and it tends to be interns or new grads.
CHEUNG: LinkedIn says hiring for entry-level jobs requiring a college degree is down 45 percent this year. And some with firm offers are being told to wait to start. A study from intelligent.com says 28 percent of business school grads have had their start dates pushed to next year. Experts' advice to grads nervous about those early offers, don't stop job searching. Research the company's financial standing, and cast a wide net.
ZHAO: Make sure that the skills you’re working on are transferrable to other industries or other jobs.
CHEUNG: Nabhan is moving to San Diego anyway for a fresh start.
NABHAN: Pick up a waitressing job somewhere, or maybe just take some time to kind of pivot and really figure out what I want to do.
CHEUNG: Not the new start she was hoping for, but a new start nonetheless.
