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What does "statistically" mean here? Even if unemployment jumps to double digits, which hasn't happened in the US since 1982, that means 93.6% of working people
by nonameiguess 4y ago
What does "statistically" mean here? Even if unemployment jumps to double digits, which hasn't happened in the US since 1982, that means 93.6% of working people (0.9 / 0.961 to not inadvertently count people who are already unemployed) will continue being able to work. That's a near worst-case scenario that seems pretty damn statistically secure to me.
- doktorhladnjak 4y agoIf you're the 1 in 10 or 12 without a job, it's obviously personally impactful and stressful to you. It's also worth bearing in mind that when unemployment is high, there are many companies that stop or slow hiring, sticking with current staff. Many fewer are hiring at all. If there is 10% unemployment, you'd expect the number of available jobs to shrink by much more than 10% vs full employment. Losing your job compounds because finding a new one at all or at least a new one that pays the same can be harder.