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What makes you so sure we're not witnessing it right now? During the recession, millions of people lost their jobs. If you look at the numbers, those companies
by Cushman 14y ago
What makes you so sure we're not witnessing it right now? During the recession, millions of people lost their jobs. If you look at the numbers, those companies are doing all right again, so why haven't those people all been hired back?
- kamaal 14y agoI think they have been hired back, not in the same places but elsewhere.
- locopati 14y agoGiven that unemployment is higher than when the economic downturn began - many have not been hired back. In the US, it's important to realize that the 'official' U3 unemployment rate does not paint the whole picture. The U6 rate considers those worker who have stopped looking for work because there's no work to be had and includes part-time workers. Furthermore, there's a large difference in unemployment between college educated workers and high-school educated workers. In addition, those that have been hired elsewhere are generally hired back for lower wages or less secure positions.