If those numbers are accurate, I would think more women in the workforce now would more than make up for 1 out of every 9 vs 1 of out of every 50. How many women were out of the workforce then? Much more than 1 out of 50.
still doesn’t explain that we have 7 million men in their prime working years not working or trying to find employment while we have millions of jobs available. they’re not caught in the employment data but if they were we’d have Great Depression numbers.
Too many jobs are online applications. Some aren’t real or are auto ditched resumès depending on certain words. Then who knows what gets to a decision makers desk. There is a disconnect between unemployed and open jobs. Can’t just call and talk to someone about too many positions.
Anecdote: I know for a fact that jobs at my work place get 3-5 applications, tops, and many jobs have been shelved because of it. And the 3-5 applicants we get have resumes written in crayon. This is for computer tech work, just fyi.
I know they run the vet techs and assistants ragged here. It’s so bad they probably hired another administrator to look into it, with whose salary they could hire a battalion of vet techs.
My guess on that is he is thinking people that came here that are crammed into a house with family members that are working and covering expenses. I agree that probably doesn't account for much but it doesn't help. I think the biggest problem is baby boomers who are now living off SS and retirement money are not getting replaced fast enough.
Thanks, but he doesn't give a source either. I am not doubting it, I am just trying to dive into it. Could there be an element of black market/cash only economy going on here?
Here is the U6 unemployment rate (which includes those that are not working/not looking). U3 rate is what is presented (by government via media). https://unemploymentdata.com/current-u6-unemployment-rate/
Good point. Cash-only participants are often ovelooked. However, I suppose theoretically, they could fall into the not working/not looking pot (because ... cash).
That's what I am wondering. I knew some younger dudes that only worked cash and would not show up as "unemployed" or "employed."
I guess it all depends on how they arrive at the base # (labor force). You would think the young cash-only dudes would be captured, therefore, included in the U6. But I don't have clue.
Sounds like we are moving the dial on how we count certain metrics, specifically seasonality adjustments. I don’t know ish about employment statistics so I can only draw from parallels in oil inventory statistics where adjustments are wild these days.
Every job added from the pandemic low to mid 2022 were warehouse positions (net obviously). Those jobs were filled from generally low paying jobs like fast food and gas stations. It’s an incredible stat but true.
I’m sure there’s a decent amount that are double dipping on social net services and working under the table. I think the biggest drivers would be us selling out the working class of this country for globalization and being able to control other countries defense policies, the break down of the nuclear family unit, and Nixon taking us off of the bretton woods system.