Infographic: Visualizing Who Holds U.S. Debt Internationally
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Visualizing Who Holds U.S. Debt Internationally

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Visualizing Who Holds U.S. Debt Internationally

Visualizing Who Holds U.S. Debt Internationally

We recommend viewing the full-size version of today’s infographic by clicking here.

Everyone knows that the U.S. Federal Government has roughly $20 trillion of debt. A question we often get, however, is who exactly owns all these treasuries? And if it’s held abroad by countries like China, what portion do they hold?

Today’s infographic comes from TitleMax, and it looks at who owns U.S. debt internationally, as well as the debt from other countries that is held by the U.S.

Who Holds U.S. Debt?

Federal government debt in the United States can be broadly placed in two categories: “Debt held by the public” and “Intragovernmental debt”. The former category includes securities held by individual investors, corporations, local and state governments, the Federal Reserve, and foreign governments.

Meanwhile, intragovernmental debt includes securities held in accounts administered by other federal authorities. This category, for example, would include treasuries owed to the Social Security Trust Fund.

Here’s the tallies of these two categories as of December 2016:

 Federal U.S. Debt (Billions)
Debt held by the public$14,202.1
Intragovernmental debt$5,395.7
Total debt$19,597.8

Debt Held By the Public

“Debt held by the public” is the most interesting of these, and it can be further broken down:

EntityU.S. Debt Held (Billions)
Foreign/International$6,154.9
Federal Reserve*$2,490.6
Mutual Funds$1,524.8
State and Local Gov'ts (incl. pensions)$899.4
Banks$620.3
Private pension funds$549.1
Insurance Companies$344.8
U.S. Savings Bonds$165.8
Other$1,449.1

*Note: Data for Fed is for marketable securities only. All data in this table from September 2016.

About 43% of all debt held by the public is actually owned by foreign governments, corporations, and individuals.

U.S. Debt Held Internationally

Here’s how that breaks down by country:

CountryU.S. Debt Held (Billions)
Japan$1,090.8
China$1,058.4
Ireland$288.2
Cayman Islands$263.5
Brazil$259.2
Switzerland$229.9
Luxembourg$223.4
United Kingdom$217.1
Hong Kong$191.4
Taiwan$189.3
India$118.2
Saudi Arabia$102.8
Others$1,771.7

Note: This data is from December 2016

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Technology

Ranked: America’s 20 Biggest Tech Layoffs Since 2020

How bad are the current layoffs in the tech sector? This visual reveals the 20 biggest tech layoffs since the start of the pandemic.

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layoffs in tech

Ranked: America’s 20 Biggest Tech Layoffs This Decade

The events of the last few years could not have been predicted by anyone. From a global pandemic and remote work as the standard, to a subsequent hiring craze, rising inflation, and now, mass layoffs.

Alphabet, Google’s parent company, essentially laid off the equivalent of a small town just weeks ago, letting go of 12,000 people—the biggest layoffs the company has ever seen in its history. Additionally, Amazon and Microsoft have also laid off 10,000 workers each in the last few months, not to mention Meta’s 11,000.

This visual puts the current layoffs in the tech industry in context and ranks the 20 biggest tech layoffs of the 2020s using data from the tracker, Layoffs.fyi.

The Top 20 Layoffs of the 2020s

Since 2020, layoffs in the tech industry have been significant, accelerating in 2022 in particular. Here’s a look at the companies that laid off the most people over the last three years.

RankCompany# Laid Off% of WorkforceAs of
#1Google12,0006%Jan 2023
#2Meta11,00013%Nov 2021
#3Amazon10,0003%Nov 2021
#4Microsoft10,0005%Jan 2023
#5Salesforce8,00010%Jan 2023
#6Amazon8,0002%Jan 2023
#7Uber6,70024%May 2020
#8Cisco4,1005%Nov 2021
#9IBM3,9002%Jan 2023
#10Twitter3,70050%Nov 2021
#11Better.com3,00033%Mar 2022
#12Groupon2,80044%Apr 2020
#13Peloton2,80020%Feb 2022
#14Carvana2,50012%May 2022
#15Katerra2,434100%Jun 2021
#16Zillow2,00025%Nov 2021
#17PayPal2,0007%Jan 2023
#18Airbnb1,90025%May 2020
#19Instacart1,877--Jan 2021
#20Wayfair1,75010%Jan 2023

Layoffs were high in 2020 thanks to the COVID-19 pandemic, halting the global economy and forcing staff reductions worldwide. After that, things were steady until the economic uncertainty of last year, which ultimately led to large-scale layoffs in tech—with many of the biggest cuts happening in the past three months.

The Cause of Layoffs

Most workforce slashings are being blamed on the impending recession. Companies are claiming they are forced to cut down the excess of the hiring boom that followed the pandemic.

Additionally, during this hiring craze competition was fierce, resulting in higher salaries for workers, which is now translating in an increased need to trim the fat thanks to the current economic conditions.

layoffs in the tech sector

Of course, the factors leading up to these recent layoffs are more nuanced than simple over-hiring plus recession narrative. In truth, there appears to be a culture shift occurring at many of America’s tech companies. As Rani Molla and Shirin Ghaffary from Recode have astutely pointed out, tech giants really want you to know they’re behaving like scrappy startups again.

Twitter’s highly publicized headcount reduction in late 2022 occurred for reasons beyond just macroeconomic factors. Elon Musk’s goal of doing more with a smaller team seemed to resonate with other founders and executives in Silicon Valley, providing an opening for others in tech space to cut down on labor costs as well. In just one example, Mark Zuckerberg hailed 2023 as the “year of efficiency” for Meta.

Meanwhile, over at Google, 12,000 jobs were put on the chopping block as the company repositions itself to win the AI race. In the words of Google’s own CEO:

“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today… We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.”– Sundar Pichai

The Bigger Picture in the U.S. Job Market

Beyond the tech sector, job openings continue to rise. Recent data from the Bureau of Labor Statistics (BLS) revealed a total of 11 million job openings across the U.S., an increase of almost 7% month-over-month. This means that for every unemployed worker in America right now there are 1.9 job openings available.

Additionally, hiring increased significantly in January, with employers adding 517,000 jobs. While the BLS did report a decrease in openings in information-based industries, openings are increasing rapidly especially in the food services, retail trade, and construction industries.

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