> If you are unhappy and/or underpaid at your current job, layoffs all caused by larger market forces might be interpreted as a hint that you should think about staying at a "safe" job unless you really hate it.

That's an excellent point. I'm itching to leave my company at the moment, but I've avoided looking elsewhere because it's relatively "safe" (for now), so you're spot on. This also appears to be the case with literally everyone I've spoken to about the topic in my social circle. That being said, all those people have reported recent layoffs at their companies; across many different sectors and income brackets. My sister works in healthcare and said the hospital just sent out letters notifying everyone of upcoming layoffs.