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Kind of misleading data. The number of cab/tuk tuk drivers and street vendors is astounding, way more than there should be. Technically employed, but driving th
by coralreef 12y ago
Kind of misleading data. The number of cab/tuk tuk drivers and street vendors is astounding, way more than there should be. Technically employed, but driving the wage down.
- msandford 12y agoIn that case US unemployment is something like 10-15%, not the 5.6% number that's being heralded as a success.
- enraged_camel 12y agoThis is what I was saying in the other thread. The number of people employed "full-time" on paper doesn't say much about the health of the economy.
- zokier 12y ago> The number of people employed "full-time" on paper doesn't say much about the health of the economy. No single number is going to say much about the health of the economy, that much is obvious.
- IndianAstronaut 12y agoMedian wage is a pretty good number to look at. It measures growth in income levels for the guy in the middle. It isn't as skewed by overall GDP growth which nowadays means money to the top.
- zokier 12y ago> The number of cab/tuk tuk drivers and street vendors is astounding, way more than there should be. How many there should be? > Technically employed, but driving the wage down. If they are sustaining themselves with the work they are doing, I don't see what is so "technical" about it.
- coralreef 12y agoWe don't know if they're sustaining themselves. And given the oversupply of labour, I suspect they barely are.