4 ms·

Thanks. It is very funny how young people perceive this market. Unemployment is basically lower than it has ever been and people are panicking. Prime age labor

by jeffbee 10mo ago

Thanks. It is very funny how young people perceive this market. Unemployment is basically lower than it has ever been and people are panicking. Prime age labor force participation rate near all-time record highs. The people are almost dangerously over-employed.

xboxnolifes 10mo ago
Because it measures open job listing. All of the job listing i've apply to and never hear back from still exist too. Take from that what you will.
- jeffbee 10mo ago
  I can assure you that has happened before. I just find it amusing. A professional now 25-30 years old started their career in what was the most spectacularly overheated labor market of all time. Now it is very very slightly cooling off, still way hotter than historical norms, and there are many complaints. But it is all relative.
NickC25 10mo ago
I'm young-ish transitioning to middle age (36). The job market is AWFUL for my generation, and pretty much always has been since we entered the workforce. Unemployment might be low if you think that folks with advanced STEM degrees can go and get a part time gig at McDonald's. If you look at meaningful employment - where one can make enough to live near where they work, save a bit, pay food/rent, and spend a bit for their leisure or health, well....no we are not over-employed. We are in a death spiral.
- jeffbee 10mo ago
  You seem to be mostly making a cost of living argument, with which I wouldn't disagree. But you can't employ/pay your way out of those costs, the problem is on the supply side. So that seems spurious to an employment rate conversation.
- bpt3 10mo ago
  I am slightly older than you, and literally don't know a person who isn't employed and doing well (including plenty your age and younger), though I am aware they exist. It's almost like anecdotal reports are meaningless, and we should rely on well sourced data to determine how things like the economy are doing. Spoiler alert: there is no indication we are in a death spiral, though in my opinion Trump seems to be doing his best to correct that. Fortunately, I don't think he's up to the task.
  - NickC25 10mo ago
    I founded a company partially because I spent 2 years on the job hunt and got absolutely nothing. So yeah, here's one example of someone who isn't doing well - me. I was doing terribly. Honestly, I still am. I've just been fortunate enough to have conceived a product some people in my city want. Will the business scale and succeed? I hope so, because I'm fucked if it goes south. And yes, anecdotal data sucks. But I'd take that over whatever bullshit the Trump administration says. Especially after they fired the BLS statisticians.
    - lotrjohn 10mo ago
      Genuine question: how did you conduct your job search? What steps did you take during those two years? Do you have a degree?
      - selimthegrim 10mo ago
        I want to back this guy up because I was in the same hole.
        NickC25 10mo ago
        See my above post. Basically, tons of applications, going to networking events 2-3x a week, being active in local tech Slack/Discord groups, bothering the lead writer of the local tech/startup newsletter, etc.
      - NickC25 10mo ago
DrPimienta 10mo ago
The government has spent decades figuring out ways to lie about this. Are you actually shocked? The number of men who can buy a home and have a stay-at-home-wife on a random job they got out of high school is nigh 0% when this used to be the norm.
- jeffbee 10mo ago
  Leaving aside your misguided RETVRN subtext, none of this really comes down to government policy. All of it is an emergent wage-cost spiral. As soon as your neighbors collectively decide to have 2 incomes per household it becomes untenable to attempt to be the last household with only 1 income.
  - DrPimienta 10mo ago
    The government's demand for infinite migrants lowered wages, that is a fact.
esbranson 10mo ago
Correct. The prime age labor force participation rate is 0.8% lower than the all-time record highest in recorded US history, January 1999.
Ajakks 10mo ago
Haha, you speak of ivory towers without even knowing so In far more words this entire position is simply "let them eat cake" but without the excuse of a royal court distorting reality. Willful ignorance is worse.

by jeffbee 10mo ago

xboxnolifes 10mo ago

Because it measures open job listing. All of the job listing i've apply to and never hear back from still exist too. Take from that what you will.

jeffbee 10mo ago
I can assure you that has happened before. I just find it amusing. A professional now 25-30 years old started their career in what was the most spectacularly overheated labor market of all time. Now it is very very slightly cooling off, still way hotter than historical norms, and there are many complaints. But it is all relative.

NickC25 10mo ago

I'm young-ish transitioning to middle age (36). The job market is AWFUL for my generation, and pretty much always has been since we entered the workforce. Unemployment might be low if you think that folks with advanced STEM degrees can go and get a part time gig at McDonald's. If you look at meaningful employment - where one can make enough to live near where they work, save a bit, pay food/rent, and spend a bit for their leisure or health, well....no we are not over-employed. We are in a death spiral.

jeffbee 10mo ago
You seem to be mostly making a cost of living argument, with which I wouldn't disagree. But you can't employ/pay your way out of those costs, the problem is on the supply side. So that seems spurious to an employment rate conversation.
bpt3 10mo ago
I am slightly older than you, and literally don't know a person who isn't employed and doing well (including plenty your age and younger), though I am aware they exist. It's almost like anecdotal reports are meaningless, and we should rely on well sourced data to determine how things like the economy are doing. Spoiler alert: there is no indication we are in a death spiral, though in my opinion Trump seems to be doing his best to correct that. Fortunately, I don't think he's up to the task.
- NickC25 10mo ago
  I founded a company partially because I spent 2 years on the job hunt and got absolutely nothing. So yeah, here's one example of someone who isn't doing well - me. I was doing terribly. Honestly, I still am. I've just been fortunate enough to have conceived a product some people in my city want. Will the business scale and succeed? I hope so, because I'm fucked if it goes south. And yes, anecdotal data sucks. But I'd take that over whatever bullshit the Trump administration says. Especially after they fired the BLS statisticians.
  - lotrjohn 10mo ago
    Genuine question: how did you conduct your job search? What steps did you take during those two years? Do you have a degree?
    - selimthegrim 10mo ago
      I want to back this guy up because I was in the same hole.
      - NickC25 10mo ago
        See my above post. Basically, tons of applications, going to networking events 2-3x a week, being active in local tech Slack/Discord groups, bothering the lead writer of the local tech/startup newsletter, etc.
    - NickC25 10mo ago

DrPimienta 10mo ago

The government has spent decades figuring out ways to lie about this. Are you actually shocked? The number of men who can buy a home and have a stay-at-home-wife on a random job they got out of high school is nigh 0% when this used to be the norm.

jeffbee 10mo ago
Leaving aside your misguided RETVRN subtext, none of this really comes down to government policy. All of it is an emergent wage-cost spiral. As soon as your neighbors collectively decide to have 2 incomes per household it becomes untenable to attempt to be the last household with only 1 income.
- DrPimienta 10mo ago
  The government's demand for infinite migrants lowered wages, that is a fact.

esbranson 10mo ago

Correct. The prime age labor force participation rate is 0.8% lower than the all-time record highest in recorded US history, January 1999.

Ajakks 10mo ago

Haha, you speak of ivory towers without even knowing so In far more words this entire position is simply "let them eat cake" but without the excuse of a royal court distorting reality. Willful ignorance is worse.