Comment by georgemcbay

I'm an American who was on the job market in both 2008 and during the dotcom implosion and I'm still working in software development.

IMO we effectively are in a recession already (and have been for a while) as far as the real job market goes, the AI boom is only stopping it from showing up in stock market valuations, which is great if you're heavily invested in the stock market, but pretty meaningless if you're a laborer without assets, with debt, and trying to find a job.

Things can certainly get worse overall than they are now (and due to bad leadership, this seems inevitable), but when they do the delta between now and when we are in an official recession will be far greater felt by people who are currently being propped up by stock and home values than it will for the many people who are already struggling.