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> Unemployment has never been lower That doesn't measure underemployment, nor does it measure people who've given up on finding work. That's why it needs to b
by yellowapple 3y ago
> Unemployment has never been lower
That doesn't measure underemployment, nor does it measure people who've given up on finding work. That's why it needs to be considered alongside things like the labor force participation rate - which has been on a downward trend since 2000 - and alongside wage growth, which has lagged below inflation since the 70's.
> January 2024 saw the most growth followed closely by December 2023.
Which jobs, specifically? At what pay? Destroying a $50k/year job to create two $25k/year jobs ain't progress.
- MacsHeadroom 3y agoLabor force participation rate has been rising since COVID. The long term trend is down but not so bad. A decade ago the rate among adult men was 72% while last month it was 70.2% and continuing to rise. https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab... Wage growth beat inflation by almost double most months last year, rising around 5-6% YoY each month vs ~3-4% inflation. https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...
- yellowapple 3y agoWell then I guess we'll see if the trend actually reverses or if it corrects back to how it's been since the 70's. Barring some significant systemic reforms I ain't exactly holding my breath.