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Is it really a bad thing? Unemployment is pretty low.
by MomoXenosaga 4y ago
Is it really a bad thing? Unemployment is pretty low.
- colechristensen 4y agoLong term, poor allocation of resources into junk work and business that doesn’t make money leads to crashes and periods of high unemployment. In other words you can’t keep the party going forever and how things are now isn’t an excuse for irresponsibility.
- imtringued 4y agoThat is illogical. Money-less economic models are unable to predict structural unemployment. In fact Say's law predicts that a theoretical barter economy is always at full employment. Of course the modeling flaw is that money is saved as a goal in itself so it will cease to circulate at some point which is the real source of unemployment.
- throw_nbvc1234 4y agoLabor Force participation is also low. Job openings are around an all time high. https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/JTSJOL https://fred.stlouisfed.org/series/JTSJOL As these two converge, wages are probably going to go down while inflation may still be high.
- deleted 4y ago[deleted]