y-c-o-m-b 4 days ago

Unemployment rate doesn't give you the full story. It's always been a suspect metric in my opinion, kind of like how people use Kelly Blue Book values for cars. It's not a good reflection of the real world complexities. I'm not unemployed, but I'm also stuck in my current position because of the 100 applications I may have applied for, I get a response from 1 and I may not even make it to the interview phase. Pre-2020 that would've been 1 in 10 applications. Unemployment rate doesn't capture that. It doesn't capture stress levels due to lack of mobility between employers, nor people that have given up, nor part time workers, etc

Reply View 1 reply
  • tootie 4 days ago

    Unrate is an indicator more than anything else. The BLS has detailed data on dozens of dimensions including rates of underemployment. Unrate is convenient because it's apples to apples.

    Reply View 0 replies
greenchair 4 days ago

the recession and bad job market we are in. you can believe what you see in real life or what you are told in media.

Reply View 1 reply
  • tootie 3 days ago

    Honestly do not get this perception at all. Have you ever live through an actual recession? Did it feel like this at all? I see some significant secular changes. Some industries are just changing and leaving some people in the cold and they'll be forced to adapt. Media in particular is just not the same kind of business it used to be and never will be again. I do not see any cyclical downturn. Just amongst my network, everyone is working, hiring is a bit slower but it's happening.

    Reply View 0 replies
paleotrope 4 days ago

General employment includes working in pizza shops, factory floor sweepers, car salesmen, janitors, deboning chicken, making Happy Meal boxes, and of course tech jobs that pay low six figures.

To me it seems we have alot of the former (several food places that specialize in lunch are closed monday and tuesday due to not enough employees) but the latter is tough right now.

But the general unemployment metric is solidly good.

Reply View 0 replies