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This is just your usual stupid headline. The article is more useful and concerns itself with now compared to just months ago. Now is a long stretch of low unemp
by creer 3y ago
This is just your usual stupid headline. The article is more useful and concerns itself with now compared to just months ago. Now is a long stretch of low unemployement official numbers - just like then - and that's the extent of the article's claim on that. Continuing strong (by some measures - is fair) US job market versus inflation and increasing interest rates is the interesting part. And that is not all that useful without talking about labor participation which is increasing again after the gross Covid drop. That is, it doesn't seem unreasonable to me that nominal unemployement is still low as labor participation has still not recovered from the Covid drop. Not much to see there.
Comparing to the Vietnam War times would be fraught with unknowns because of so many differences between that period, now, and in between. For example, labor force participation by gender thoroughly changed. https://en.wikipedia.org/wiki/File:US_Labor_Force_Participation_Rate_by_gender.png https://en.wikipedia.org/wiki/File:US_Labor_Force_Participat... And for another, gig work appeared.
So did education and, it feels to me, minimum wage policy.
Also I hear lots of stories of techies in long unemployed gaps. While in theory there is still plenty of talk of companies having a hard time finding people.