2 ms·
It's interesting how there's so much "information" about how well the employment rate was over the last 10 years, but everyone knows people who became/are unemp
by reallydude 8y ago
It's interesting how there's so much "information" about how well the employment rate was over the last 10 years, but everyone knows people who became/are unemployed (or part time only employed). Somehow every just assumes it's a localized situation to them, despite the ubiquity across observers. Part of it is the misinformation, but is that the only factor in the strength in the mischaracterized narrative? This still puzzles me.
- SketchySeaBeast 8y agoAssuming the unemployment rate is > 0%, shouldn't you know someone who's unemployed, just by the logic that there are unemployed people, and you know people?
- gbear605 8y agoYou wouldn’t have to know people, but yes there’s a good chance of it. For example, consider if the unemployment rate is 1/300,000,000 (ie. One person in the US is unemployed). Then only the people that know that one person would know an unemployed person. However, the percentage is high enough that everyone should expect to know a couple unemployed people. If the rate is 3% and everyone knows 200 people well enough to know their employment status, then you should expect to know 6 unemployed people.