People having jobs doesn't mean everything is great. A job could be working fast food or cleaning toilets. Nothing wrong with those prodessions at all, but if someone is overqualified for those roles and that's all they can find, then the economy is not doing well.
How Is The Economy Doing Better Now vs 4-8 Years Ago if Many Americans Can’t Get Jobs Now?
- Thread starter Silkk
- Start date
Saysumthinfunnymike
VOTE!!!
Hundreds of companies hit their all time highs in the market just this year...
RickyDiBiase
The Sword of Jesus of Nazareth
Don't ever be this insecure in person. Men don't move that way.
Yeah and when people can’t even land those jobs like now its beyond just not doing well.
MFs having to do multi round interviews for retail is nuts.
RickyDiBiase
The Sword of Jesus of Nazareth
nikka I will fukking kill you
you scared to kill the roaches in your mama house. Your fakkity ass probably cross the street when the high schools let out. Scary Mary ass faq.Richard Glidewell
Superstar
I would look at them.....
....and then walk the fukk outnikka I will fukking kill you
Same. Everybody not in our positions though.I would look at them.....
IsThatBrothaMouzone?
Superstar
This 100%.
Neither side is lying, it's just about interpretation.
The average citizen doesn't care if a middle class or upper middle class person is happy with their stock portfolio..or if big biz is booming.
They care about THEIR OWN ability to pay bills, save, buy a house and take a vacation or two each year. Lots of folks can't do those things.
Givethanks
Superstar
Life's always been rough out here, but I maybe because I grew up poor.
Never in my 30 odd years of living have I seen the economy doing great. These politicians are such frauds
What makes it worst is, I know a lot of people who live like everything is all good, which I understand. You only have 1 life, but why do shyt that's gonna make it harder for you?
I remember when brehs were trying it convince me to do give up my full-time job and do Uber saying I'd make more money. It's always something with the guys, (from vector to Uber/lift, dropshipping then forex).
I wish I had the luxury to not, take my ass to my 7-3 every morning.
Never in my 30 odd years of living have I seen the economy doing great. These politicians are such frauds
What makes it worst is, I know a lot of people who live like everything is all good, which I understand. You only have 1 life, but why do shyt that's gonna make it harder for you?
I remember when brehs were trying it convince me to do give up my full-time job and do Uber saying I'd make more money. It's always something with the guys, (from vector to Uber/lift, dropshipping then forex).
I wish I had the luxury to not, take my ass to my 7-3 every morning.
beenz
Rap Guerilla
the reason they keep claiming the unemployment rate is so low is cuz people getting laid off or finding jobs, a lot of them are resorting to low-paying gig work, which we all know is some bullshyt.
Saysumthinfunnymike
VOTE!!!
The economy is much more than "jobs" Lol... let's forget about the paragraph on unemployment rates because those numbers can always be skewed or misleading. Let's focus on the below...
www.forbes.com
Quarterly Federal Reserve data show that total household wealth – the difference between what people own and what they owe – was $156 trillion at the end of 2023, the equivalent of 7.5 times the average after-tax household income. At the end of 2019, that ratio was 7.1.
Additional data from the Fed show that wealth gains have been especially pronounced among younger households and Millennials. For example, the average wealth of Millennial households grew by 107.3% from December 2019 to September 2023, the last quarter for which data are available. In comparison, the average wealth of Generation-X households increased by 15.4%, that of Baby Boomer households by 9.1% and that of members of the Silent Generation by 22.1% during that time. Households were, on average, better prepared for an eventual economic emergency, for upward economic mobility, and for a secure retirement now than four years ago.
Further, the homeownership rate of households with incomes below the median income increased from 51.4% at the end of 2019 to 53% at the end of 2023. In comparison, the homeownership rate of households with incomes above the median declined by 0.1 percentage points over the same period. The homeownership gains were especially pronounced among younger households and households with lower incomes, reflecting a fairly equitable economic recovery.
The declines in debt also offset, to some degree, higher interest rate payments. The Federal Reserve reports that the debt service ratio — average debt payments to after-tax income — amounted to 9.8% at the end of 2023, slightly below the 10% at the end of 2019. Households have basically seen strong income gains amid a very quick economic recovery and a strong and stable labor market that have allowed them to reduce their debt burden over the past four years.
The American Economy And People Are Much Better Off Than 4 Years Ago
This is a time when the question of whether people are materially better off than they were four years ago comes up.
www.forbes.com
Quarterly Federal Reserve data show that total household wealth – the difference between what people own and what they owe – was $156 trillion at the end of 2023, the equivalent of 7.5 times the average after-tax household income. At the end of 2019, that ratio was 7.1.
Additional data from the Fed show that wealth gains have been especially pronounced among younger households and Millennials. For example, the average wealth of Millennial households grew by 107.3% from December 2019 to September 2023, the last quarter for which data are available. In comparison, the average wealth of Generation-X households increased by 15.4%, that of Baby Boomer households by 9.1% and that of members of the Silent Generation by 22.1% during that time. Households were, on average, better prepared for an eventual economic emergency, for upward economic mobility, and for a secure retirement now than four years ago.
Homeownership Has Expanded
Increasing homeownership is a key aspect of the growth in average wealth. Somewhat larger shares of households have gained access to the wealth-building embedded in homeownership. The U.S. homeownership rate was 65.7% at the end of 2023, up from 65% at the end of 2019, according to the U.S. Census Bureau. The gains in homeownership were especially pronounced among households with people ages 35 to 44, who saw an increase from 60.4% to 62% over that four-year period. This was the largest increase in homeownership among any age group.Further, the homeownership rate of households with incomes below the median income increased from 51.4% at the end of 2019 to 53% at the end of 2023. In comparison, the homeownership rate of households with incomes above the median declined by 0.1 percentage points over the same period. The homeownership gains were especially pronounced among younger households and households with lower incomes, reflecting a fairly equitable economic recovery.
Households Face Lower Debt Burdens
Debt has become a mainstay of American households’ financial lives, but the debt burden has gone down over the past few years. The total amount of outstanding loans such as mortgages, credit card debt, student loan debt, and auto loans averaged 96.2% of after-tax income in December 2023, according to Fed data. In comparison, that ratio was 97.5% at the end of 2019. Mortgages fell from 64% to 63.6% of average tax income, credit card debt dropped from 6.7% to 6.3% of after-tax income and other debt — mainly student and auto loan debt — decreased from 18.9% to 18.1% of after-tax income over the past four years. Households gradually deleveraged — unburdening themselves of the high levels of debt.The declines in debt also offset, to some degree, higher interest rate payments. The Federal Reserve reports that the debt service ratio — average debt payments to after-tax income — amounted to 9.8% at the end of 2023, slightly below the 10% at the end of 2019. Households have basically seen strong income gains amid a very quick economic recovery and a strong and stable labor market that have allowed them to reduce their debt burden over the past four years.
They don't even have the luxury but to prevent you from elevating they will definitely steer you to doing a dead end gig job to stick it to the man. Meanwhile they're living on their knees complaining about it. Stay away from the crabs in the barrel brehLife's always been rough out here, but I maybe because I grew up poor.
Never in my 30 odd years of living have I seen the economy doing great. These politicians are such frauds
What makes it worst is, I know a lot of people who live like everything is all good, which I understand. You only have 1 life, but why do shyt that's gonna make it harder for you?
I remember when brehs were trying it convince me to do give up my full-time job and do Uber saying I'd make more money. It's always something with the guys, (from vector to Uber/lift, dropshipping then forex).
I wish I had the luxury to not, take my ass to my 7-3 every morning.
Life's always been rough out here, but I maybe because I grew up poor.
Never in my 30 odd years of living have I seen the economy doing great. These politicians are such frauds
What makes it worst is, I know a lot of people who live like everything is all good, which I understand. You only have 1 life, but why do shyt that's gonna make it harder for you?
I remember when brehs were trying it convince me to do give up my full-time job and do Uber saying I'd make more money. It's always something with the guys, (from vector to Uber/lift, dropshipping then forex).
I wish I had the luxury to not, take my ass to my 7-3 every morning.
Scammers be on some shyt boy