Jobless Rate Hits 53-Year Low, unemployment rate fell to 3.4%

[Cakebatter]

Don’t they go by the number of folks filing for unemployment and are actively seeking jobs?

Yep. Once you run out of unemployment benefits, you are no longer counted as unemployed. The unemployment rate stat is completely worthless. Go look up a chart of the Workfoce Participation Rate. Its lower than anytime since the early 70s. I bet the true unemployment rate is around 25%.

 

[CopiousX]

Crazy how our only real hope is for the population to basically be too poor and not reproduce enough to rent and force them to liquidate, cause honestly idk how that method of them buying up everything to rent to people can be sustainable if they charge expensive rents too, they’ll tap out the consumer base eventually, it’s disgustingly greedy.

I think end game is to have us all living in tenements like those factory workers in 1920. Gonna have 2 families starring a single family home or 4 young people renting an apartment.


Think of the profits .

 

[Absolut]

Yep. Once you run out of unemployment benefits, you are no longer counted as unemployed. The unemployment rate stat is completely worthless. Go look up a chart of the Workfoce Participation Rate. Its lower than anytime since the early 70s. I bet the true unemployment rate is around 25%.

So theoretically a lot of the recent tech layoffs are probably still on their severance packages of 3-6 months or whatever, and haven’t filed for unemployment yet either

 

[Tribal Outkast]

The past year has been good to me. I’m not complaining

 

[Wild self]

I think end game is to have us all living in tenements like those factory workers in 1920. Gonna have 2 families starring a single family home or 4 young people renting an apartment.


Think of the profits .

Nah, at that point, French Revolution 3.0 would pop off and I know Gen Z ain't tolerating that BS.

 

[LunaticVillage415]

Yep. Once you run out of unemployment benefits, you are no longer counted as unemployed. The unemployment rate stat is completely worthless. Go look up a chart of the Workfoce Participation Rate. Its lower than anytime since the early 70s. I bet the true unemployment rate is around 25%.

Yup. In hella deindustrialized cities, there are neighborhoods with like 70%+ real unemployment rates. In cities like Baltimore and Philly, unemployment rates are sky high in certain neighborhoods. But it ain’t just the cities. I know countless bumblefukk towns in the middle of nowhere have ridiculously high unemployment as well. Also, somebody who works 10 hours a week at some random mall kiosk is counted as employed. Employment stats don’t count underemployment which is also rampant.

 

[MoshpitMazi]

W biden

 

[Wiseborn]

And most people still can’t afford a house

because of the demand from all those jobs

 

[jilla82]

You’ve always been conservative and that’s me giving a polite description of your personality

legit not true.
I play devils advocate to some of you only being able to see blue.

 

[FishNGrits]

Don’t feel like a good economy, working class people hurting.

 

[BmoreGorilla]

I don’t see this shyt at my job. We’ve had mad vacancies we can’t fill for the past two years. Unemployed folks with 3 year gaps in their resumes be straight turning down interviews and job offers becuz the position doesn’t offer telework right out the gate and there’s a probationary period

These dummies be straight turning down a stable government job with great pay, guaranteed pay increases, benefits, and pension cuz they don’t wanna go thru a probationary period


And let’s not even get started on the folks who quit after a few days becuz they got into a argument with someone at the copy machine or they don’t feel like going thru HR training

 

[OperationNumbNutts]

Sorry for not being optimistic but these numbers are bullshyt. Just because people stop filling or unemployment having it expire doesn't mean they have a job. Nor does it mean they have a job with a livable wage. When I go out it's still clear a lot of places are under staffed.

 

[TEKBEATZ]

Biden

 

[BmoreGorilla]

Yup. In hella deindustrialized cities, there are neighborhoods with like 70%+ real unemployment rates. In cities like Baltimore and Philly, unemployment rates are sky high in certain neighborhoods. But it ain’t just the cities. I know countless bumblefukk towns in the middle of nowhere have ridiculously high unemployment as well. Also, somebody who works 10 hours a week at some random mall kiosk is counted as employed. Employment stats don’t count underemployment which is also rampant.

I can’t speak for everywhere but the area Baltimore in particular has a ton of jobs. Some folks just be entitled. See my post above for example. Also some folks just be wanting to work. I used to work at a trade school where we helped graduates find jobs after. It was clear a lot of them were being pressured to go learn a trade by some woman in their lives. They’d skip class left and right when we told them these jobs would look at their attendance

Then some would get jobs after and not show up. We’d call and ask what happened and they’d have some bullshyt excuse like it was too cold to leave the house day


We had jobs calling us all the time asking for employees becuz they were understaffed. And these weren’t bullshyt jobs. We are talking trades like electrical, hvac, and welding

 

[Elim Garak]

Yep. Once you run out of unemployment benefits, you are no longer counted as unemployed. The unemployment rate stat is completely worthless. Go look up a chart of the Workfoce Participation Rate. Its lower than anytime since the early 70s. I bet the true unemployment rate is around 25%.

I believe they have a stat for the real rate forgot what it's called I think the U something but 25% I DC don't think it's that high my guess would be maybe 8-10%.

Edit here is the website it's closer to 7%.

Table A-15. Alternative measures of labor underutilization - 2024 M02 Results

www.bls.gov