U.S. Economy continues to be very strong despite job cuts in 2022 and 2023

Despite numerous job cuts from high-profile Tech companies such as $Meta Platforms (META.US)$ , Twitter, $Amazon (AMZN.US)$ (*1), $Microsoft (MSFT.US)$ , $Snap Inc (SNAP.US)$ , $HP Inc (HPQ.US)$ and $Cisco (CSCO.US)$ in 2022, and even some companies such as $McDonald's (MCD.US)$ (*2) plans for job cuts in 2023, the U.S. economy continue to be strong, with nonfarm payrolls rose by 223K, beating the estimates of 200K (*3).

Besides the nonfarm payrolls beating estimates, the private payrolls also beat its estimates too. Also, the U.S. stock market stage its first big rally in 2023 with DOW up 2.13%, S&P 500 up 2.28% and Tech index NASDAQ up 2.56% on 6 Jan 2023 (*4).

So, do you think that it is a good time to buy some Tech stocks in the year of the Rabbit?

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References:

*1: ‘Heartless’ mass layoffs hit US workers ahead of holidays

*2: McDonald's plans corporate job cuts and restructuring

*3: Nonfarm payrolls rose 223,000 in December, as strong jobs market tops expectations

*4: Stocks stage first big rally of 2023 as hope grows that inflation will ease, Dow closes up 700 points