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I guess you're are talking about US, right? Anyway, sometimes unemployment rate could be misleading. For example, Cambodia's UR is 0.3% [1]. However beneath th

by zkid18 7y ago

I guess you're are talking about US, right? Anyway, sometimes unemployment rate could be misleading. For example, Cambodia's UR is 0.3% [1]. However beneath the impressive statistic lies a harsher reality of widespread near-unemployment, masked by the methodology: Anyone who works just one hour a week is considered employed. The employed include people aged 15 and over who, during the reference week worked for one hour or more for pay, profit, commission or payment in kind, in a job or business or on a farm,” notes a 2013 ILO working paper on its methodology. Which means that anyone who has some kind of garden in the backyard, and if they go and grow some vegetables on their farmland, they will always be considered employed [2] In developing countries the informal sector holds about 60% of the ecomony. [1]https://en.wikipedia.org/wiki/List_of_countries_by_unemployment_rate https://en.wikipedia.org/wiki/List_of_countries_by_unemploym... [2]https://english.cambodiadaily.com/editors-choice/cambodias-low-jobless-rate-hides-harsh-reality-106803/ https://english.cambodiadaily.com/editors-choice/cambodias-l...

unlinked_dll 7y ago
I feel like you have to compensate for our aging population there as well
- mikekchar 7y ago
  Here in Japan it's getting difficult to hire for some jobs. One of my local convenience stores just closed because they couldn't hire enough staff to keep it open. I thought it was fairly interesting because there was a kind of local wage war between it (A daily Yamazaki) and the 7-11 across the street. The 7-11 won. I'm very curious how this turns out given the deflationary economy. Will this drive inflation I wonder?
  - zkid18 7y ago
    That's interesting. I always thought the convenience stores positions on the job market are pretty strong. The demand for low-wage jobs is full-filled within アルバイト and foreigners. I might be biased, but since I moved to Japan I rarely seen any 日本人 at the counter other than students.
    - mikekchar 7y ago
      That's definitely true in the big cities (in my experience), but I'm in a small rural town. Most of the foreigners have relatively high paying factory jobs around here (or work in the old folks home). Since there is no university here and high school students by and large are not allowed to work part time jobs, it means there isn't many people left.

by zkid18 7y ago

unlinked_dll 7y ago

I feel like you have to compensate for our aging population there as well

mikekchar 7y ago
Here in Japan it's getting difficult to hire for some jobs. One of my local convenience stores just closed because they couldn't hire enough staff to keep it open. I thought it was fairly interesting because there was a kind of local wage war between it (A daily Yamazaki) and the 7-11 across the street. The 7-11 won. I'm very curious how this turns out given the deflationary economy. Will this drive inflation I wonder?
- zkid18 7y ago
  That's interesting. I always thought the convenience stores positions on the job market are pretty strong. The demand for low-wage jobs is full-filled within アルバイト and foreigners. I might be biased, but since I moved to Japan I rarely seen any 日本人 at the counter other than students.
  - mikekchar 7y ago
    That's definitely true in the big cities (in my experience), but I'm in a small rural town. Most of the foreigners have relatively high paying factory jobs around here (or work in the old folks home). Since there is no university here and high school students by and large are not allowed to work part time jobs, it means there isn't many people left.