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It's very difficult to believe these (and American) unemployment numbers for various reasons. At what point do legitimate gov't studies begin to suffer a loss
by ryanmarsh 9y ago
It's very difficult to believe these (and American) unemployment numbers for various reasons.
At what point do legitimate gov't studies begin to suffer a loss of credibility similar to the "fake news" epidemic?
- maxerickson 9y agoOver here in run down small town America the low unemployment figures are pretty easy to believe. The local Walmart had to stop drug testing in order to find enough people to hire and they are still miserably short staffed. They might not be the "all the able bodied young people not working" numbers you want them to be, but they say something about the state of the labor pool.
- T-hawk 9y agoWhat it says is that Walmart's wages aren't high enough. A so-called labor shortage is really just a failure of the employer to recognize the market-clearing price for labor. Demand exceeding supply means that the price should rise. If Walmart were to pay $20/hour, I bet they'd have no problem finding as many workers as they need.
- maxerickson 9y agoSure, but needing to increase wages to hire is something you'd expect in a "tight" labor environment, the environment pointed to by employment statistics. That the statistics don't measure other economic factors seems to be incredibly frustrating to some people that are convinced that labor statistics should measure things other than labor though.
- Angostura 9y agoWhat would these "various reasons" be? At what point do unsubstantiated criticisms help fuel the fake news epidemic?
- ryanmarsh 9y agoI don't know but it's here and it is an epidemic. That's why I asked my question.
- drpgq 9y agoI think in 2017 participation rate is a way better number to follow in Western countries.
- williamscales 9y agoIt's well known that the unemployment figure widely cited doesn't include discouraged workers and underemployed workers. In fact, the BLS says that when they publish the number. They also publish all of the other data you would need to get a great picture of discouraged workers and underemployment. The fact that you find it difficult to believe but have made no effort to enlighten yourself further is telling.
- ryanmarsh 9y agoThis isn't about me. My comment was about a perspective shared by many people that unemployment numbers are fudged because they are a political football and how this further undermines reporting. Project less, empathize more.
- williamscales 9y agoI totally agree with you. And I do empathize completely with people who do not understand what is being put in front of them but are still asked to make a value judgment. I'm in that position myself sometimes and it's awful. I think it's furthermore definitely a problem that politicians tout one number. But it's unfortunate that folks blame the number in that case. There's nothing wrong with the number - and all numbers are fudged, by definition! So I think we have a massive failure to teach critical thinking in our education system. We can't continue to, on the one hand have a political system predicated on informed citizenry and on the other do everything possible to prevent those citizens from enlightening themselves.
- deleted 9y ago[deleted]