“By immediately lowering the corporate tax rate to 20%, this bill will stimulate investment, job creation and economic growth in the United States...and research tells us that every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class,” said AT&T Chairman and CEO Randall Stephenson.
But job postings aren't going up.
AT&T ($T) told anyone who had ears that the tax cut for the wealthy, along with the death of net neutrality, would result in thousands of new high paying jobs for the middle class as well as a ton more invested in America. In reality, they bought back stock and cut tons of employees to save money. Nothing trickled down, nothing new was done, and AT&T shares rose.
You can see a pattern every year or so, where the job openings will go up to around 1,500 and then just crater. This repeats like a roller coaster, but at no point was there ever the large spike with thousands of new jobs like the CEO said there would be. There was always just the normal amount available, and this trend never was affected by the tax cut. Right now we're in a big drop, where job listings are down 36% since August 2019.
It seems like the total global headcount at AT&T has been higher than it really is, and that's because LinkedIn ($MSFT) recently purged thousands of irrelevant and inaccurate accounts - the actual number fell 16%.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.