Β #UnemploymentRate #JobMarket #EconomicTruth
Hey everyone! π Let’s talk about the unemployment rate in the USA. The official number says it’s 4.1%, but do you think that truly reflects the reality? π€ Here are some thoughts to consider:
– The unemployment rate doesn’t account for everyone who is actually unemployed.
– It’s not easy to obtain and stay on unemployment benefits in each state.
– The job market seems tough for many people to find a job, despite the low percentage.
– Maybe the actual unemployment rate is closer to 15% to 20% based on the current job market.
Do you agree? Disagree? How do you think we can get a more accurate picture of unemployment in the USA? Let’s discuss and share our perspectives! π¬
One possible solution could be to include more comprehensive data in the calculation of the unemployment rate. This could provide a clearer and more realistic view of the job market situation. Let’s brainstorm ideas together! π§ π‘
There are people unemployed that arenβt on unemployment so the numbers are way off
I think the number is fairly accurate but misleading. Thereβs a lot of people working part time jobs, but theyβre technically employed. Iβm one of them. Canβt find full time work but moneys still technically coming in.
This doesn’t include those “marginally attached to the workforce” so people that aren’t employed, and aren’t collecting unemployment AKA ME!
You’ve never seen any such thing. 20% unemployment would be Great Depression levels, or a third world country coming out of a recent war. 15% unemployment would be higher than during the first months of the pandemic, when most urban areas were all but shut down. You and your friends having trouble getting work does not mean some big government conspiracy.
The unemployment rate has nothing to do with collecting unemployment benefits. It is survey based.
The reality behind the job numbers is that what total employment (total number of employed Americans) is up vs last year, it is DOWN in the tech sector and last I checked slightly down in business and professional services as of the last few months.
So the job growth is uneven, and tech/business roles are in a bit of a mini “recession” or at least a lull.
I found a article that explains it from top to bottom. It is super complex and honestly it’ll never reflect what’s going on on the ground.
These are smart people and I’m sure there’s a method behind The madness of how they calculated, but essentially it’s a sample of businesses and individuals that’s completed together with some more other data and then it’s calculated yada yada yada
Whatever you think it is, is much more complex than that.
But at the end of the day it’s sad that’s what it is. They are selling the people a lie because they don’t want financial markets to freak out. And numbers get revised for sure, 50,000 so-called job gains was wiped out earlier this year since the numbers changed from last year. They are not afraid of revisions but there is a lag time.
I’m at the point where I’d rather be poor in another country then be poor in the United States when nobody gives a flying dog shit and the culture has evolved into me me me + racist racist racist. I’d be able to learn and grow in another place and some places will actually even appreciate that I have something to offer.
Greatest country? Not by a long shot. Pretty good. But once again we are in the shitter and if Democrats don’t hold the blue line against the comically evil Republicans… we are super fucked and the only thing they have to blame is himself.
My theory is that low job velocity is making the job market worse. During the Great Resignation, people were changing jobs frequently. Job velocity was high. Finding a new job was easier and people who wanted a job or a career change could take those jobs that were vacated. At the same time, that caused inflation. The solution was supposed to be increasing interest rates. That hit tech hard because those companies don’t make money for years and there were huge layoffs.
Overall, the unemployment rate is low. However, people are not changing jobs. Job velocity is low. Instead of 2-3 people who get laid off and are unemployed for 6 months, one person is becoming unemployed for over a year. Long-term unemployment is much worse than short-term unemployment. With one sector of the economy hit worse than others, job prospects are bad and with fewer people switching jobs, even going outside of tech is hard.
20% unemployment? Bless your heart. We didnβt hit 20% unemployment during the Great Recession, and finding a paid internship was damn near impossible then. Underemployed and underpaid are the main things affecting the workforce in conjunction withgreedflation
βUnderemploymentβ is going to become an important label as white collar jobs continue to take the biggest hit.
I could pretty easily get a shitty warehouse job around me if I wanted to and take a massive pay cut.Β
But Iβve done a few job searches throughout my career in my actual field and things are BLEAK compared to 5-10 years ago when I finished college.
There are multiple measurements of unemployment. The most frequently cited excludes people who are not looking for work (has nothing to do if you are collecting unemployment). Other measurements include other criteria, but all are at historical lows Not sure where you love or what your skills are, but I can count 15 people I know personally who got new and better paying jobs this year, including me.Β
If you think 20 percent of people are unemployed I really donβt know what to say except you are delusional and need to learn some basic history about when the US actually had unemployment that highΒ
No we donβt
15 to 20% lol your delusional
A lot of lies about the economy are being propagated. We are in a recession. No one wants to say that word in a political cycle.
The unemployment rate is this
Are you employed
Yes
Then you don’t count as unemployed
No
Have you looked for work in the past month
No
Then you don’t count as unemployed
The unemployment rate is people who don’t have a job but are actively seeking employment
Someone who gets 10 hrs a week doesn’t count
Someone who hasn’t had a job in six months doesn’t count.
Someone who’s battling an illness and can’t work doesn’t count
Someone who’s living off savings for the time being because they needed a break from working doesn’t count.
Someone who is a senior and just gave up because nobody would hire them doesn’t count.
The true unemployment rate of people that aren’t working, that can work is a lot higher than 4%
It’s probably a number that’s scary af.
I donβt know what an acceptable percentage would be but from my personal experience, it has been rough trying to find a job for me. The competition is stiff too.
It took me 8 months to find a job including taking a temp 3 month job. Once the election is over they will say we are in a recession.Β
I wonder how many people are unemployed from leaving toxic jobs. For me, it’s not just my last job, but unfortunately many at this point. It’s a completely different workplace out there, than it was say, 7 years ago.
The US government, and governments all over the world honestly, are well known for manipulating the nationβs unemployment rate by just changing how itβs calculated instead of increasing jobs.
The national or regional unemployment rate doesnβt matter anyway. What matters is your family unemployment rate. In my house itβs 75%.
But what makes it worse is that everyone thinks all is well. Usually when thereβs a tough job market, people know the economy sucks. This time around the neighbors are all traveling and upgrading their shit, while weβre trying to figure out how to keep the house.
Iβve never seen this sort of situation before. Iβve also never seen a decent explanation. Weβve had high interest rates, weβve had inflation, weβve had shortages and immigration and industrial shifts. But this time 4% means 96% are flying high, but that 4% are *fucked*.
I think there are a lot of people who are under employed that are looking for a better job which makes us, unemployed, much harder to land a job. If a company has to choose between someone with a job or without a job, the one who is employed will most likely get it.
I just applied for unemployment today. I got approved for less money than in 2010 before I had my kid ..and I only used it for two weeks before I found a job.
I’m a bit scared, as my savings were depleted for a personal crisis before my layoff.
Maybe I could find a nice poly couple of to adopt me.
Itβs a big lie because they no longer count folks who donβt report through unemployment.
unemployment claims end at 6 weeks. after that no one counts them as unemployed. jobs report says there are plenty job openings, but they are fake, not really getting filled, minimum wage
My unemployment ran out June 1st, which means I’m classified as employed. The way all that crap is calculated is fraudulent.
Probably more like 6 or 7%. And higher in coastal states with white collar jobs.
Lots of people work off the books or they are self employed. So the rate can actually be lower than 4.1%.
Yeah, the percent of people getting UE benefits may be 4.1, but many of us ran out some time ago. Itβs not a good way to count it.
Real unemployment usually hovers between 10-14%.
Itβs when it gets up around the high end of that range we notice it. Like now.
They donβt count under employment either.
It’s definitely not 15% to 20%, and the metrics they’re using now are the same metrics that they’ve used to monitor unemployment for decades. The 4.1% you’re seeing is as real as any other unemployment number you’ve ever seen.