Author Topic: America has a secret weapon  (Read 7646 times)

0 Members and 1 Guest are viewing this topic.

Online nctnico

  • Super Contributor
  • ***
  • Posts: 18021
  • Country: nl
    • NCT Developments
Re: America has a secret weapon
« Reply #25 on: February 06, 2017, 10:47:44 pm »
Still: it doesn't really matter because both graphs show that unemployment rates are very near the numbers from (close) before 2008. The input isn't as skewed as you are suggesting.
There are small lies, big lies and then there is what is on the screen of your oscilloscope.
 

Offline mtdoc

  • Super Contributor
  • ***
  • Posts: 3582
  • Country: us
Re: America has a secret weapon
« Reply #26 on: February 06, 2017, 11:25:47 pm »
Still: it doesn't really matter because both graphs show that unemployment rates are very near the numbers from (close) before 2008. The input isn't as skewed as you are suggesting.

No, the U-6 is about back to where it was in the depths of the prior recession (2003) and the labor force participation rate is back to where it was in the late 1970's when the introduction of large numbers of working women into the workforce was just getting started.

Regardless of graphs or statistics, the reality on the ground in much of the USA is that the job market for all but a few select industries (health care, high tech, finance and a few others) is terrible.  The  market for working class middle income jobs is downright awful. People are working low paying part time jobs in the retail and service industries (think Walmart, Starbucks, bartenders, waitresses, fast food, etc) to make ends meet. Or they have given up looking for work altogether - sometimes because they will be forced to give up the meager government benefits they do get if they take a minimum wage job.     Blame it on automation, offshoring of manufacturing jobs, the financialization of the economy, an empire in decline, or what have you (it's surely a combo of all those things) but it is a real phenomenon. The result is a lot of unhappy, even angry people -some who will scapegoat immigrants or blame those on the "other side" of the stale left/right political divide (which is what the politicians and their corporate masters want).   The rise of populist candidates - Sanders and Trump - as well as some anti-immigrant sentiment is the result.
« Last Edit: February 06, 2017, 11:27:20 pm by mtdoc »
 


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf