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The US does not have full employment. The actual percentage of working age people who are employed is below peak levels. Also quite a few people are working pa
by zafka 8y ago
The US does not have full employment. The actual percentage of working age people who are employed is below peak levels. Also quite a few people are working part time.
- LarryDarrell 8y agoAlso, the unemployment rate communicates nothing about the dignity of a job. The 45 year old former factory worker who is now fighting for hours at a retail job counts as employed. He also counts as angry, depressed and ready to burn the system down.
- leereeves 8y ago> The US does not have full employment. * Citation needed. Here's the Fed saying we are: https://www.reuters.com/article/us-usa-fed-kaplan/feds-kaplan-u-s-economy-at-or-beyond-full-employment-idUSKCN1II2NQ https://www.reuters.com/article/us-usa-fed-kaplan/feds-kapla...
- zafka 8y agoFrom a similar time frame: https://slate.com/business/2018/05/the-unemployment-rate-is-historically-low-and-meaningless.html https://slate.com/business/2018/05/the-unemployment-rate-is-... Just like the cost of living index, Politicians often use misleading techniques to calculate "employment rate"
- leereeves 8y agoAlright then, let's look at this index that article proposes: https://fred.stlouisfed.org/series/LNS12300060 https://fred.stlouisfed.org/series/LNS12300060 At 79.9, it's not quite record high employment, but it's close.