Part 13/15:
The absence of widespread layoffs does not mean a robust labor market—slow hiring and some firing are enough to suppress growth and push the economy into a recessionary phase. This aligns with the idea that the economy is adjusting from past overextensions—what the author describes as "forgot how to grow"—toward a period of cautious contraction.
Final Thoughts: The Broader Implications
Amazon’s planned layoffs are emblematic of a much larger shift—an economy that "forgot how to grow" during the pandemic-induced surge. The correction appears to be underway, characterized by shrinking workforce expansion, rising labor force dropouts, and declining consumer confidence.