The only people not working are those not looking for jobs…
“The solid June jobs report is a good sign for the US economy. But it may have dashed Wall Street’s hopes for a big rate cut from the Federal Reserve later this month.
The Dow fell 60 points in early afternoon trading Friday after the government reported that 224,000 jobs were added last month — much better than expected. The Dow was down more than 200 points at its lowest level of the day.”
These numbers are still made up out of whole cloth
.
These numbers are still made up out of whole cloth
What do you suggest is a more honest look at the employed and unemployed?
The only people not working are those not looking for jobs…
Maybe. https://www.bls.gov/charts/employment-situation/reasons-for-unemployment.htm
And the structurally unemployed.
Labour participation rate is holding steady at 62.9%. It’s been ±0.3% since August 2013. The vast majority are retired boomers not looking for jobs.
The largest number of unemployed (2.7m people) are people who just completed a temp position and going onto the next. Layoffs are low. New entrants (kids mostly) are steady since the changes of labour laws in the 70s and 80s.
But reentrants are on a downslope. That could mean fewer and fewer of the 38% not in the labour force are non-diabled, non-retired.
These numbers are still made up out of whole cloth
Still world’s better than Chinese data.
The only people not working are those not looking for jobs…
Maybe. https://www.bls.gov/...for-unemployment.htm
And the structurally unemployed.
Labour participation rate is holding steady at 62.9%. It’s been ±0.3% since August 2013. The vast majority are retired boomers not looking for jobs.
The largest number of unemployed (2.7m people) are people who just completed a temp position and going onto the next. Layoffs are low. New entrants (kids mostly) are steady since the changes of labour laws in the 70s and 80s.
But reentrants are on a downslope. That could mean fewer and fewer of the 38% not in the labour force are non-diabled, non-retired.
I think you’ll see this trend continue. “Re-training” people for new jobs is going to get harder and harder as the average age of the workforce increases and the prerequisite knowledge to enter a new field increases.
We’re kind of entering an interesting and bizarre new world where both the left and the right are wrong (retrain them vs don’t be lazy).
That said, there’s 100% a looming crisis in the skilled trades and there’s no reason that 85% of the population can’t learn those skills.
Had supper with a skilled auto mechanic today. In dealers repair shops they are having to routinely plan for a certain percentage of mechanics to not show up for work on any given day. He says twenty years ago they used to schedule more work than they could handle most guys would do some overtime and didn’t want to be sitting idle.
Funny you mention that, I just had my car serviced and had an almost identical conversation. I was told over half of the “master mechanics†currently working are over the age of 55.
These numbers are still made up out of whole cloth
Still world’s better than Chinese data.
That’s a whole different level of made up
.