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

[The Fukin Prophecy]

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

That's exactly it, if you're receiving a severance package or benefits, they do not count you as unemployed...

I don't even live in this shythole country anymore and know these numbers are a funny math fabrication...

 

[LunaticVillage415]

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

I know Westport only has a ~30% workforce participation rate. Baltimore is one of the most deindustrialized cities on the map. Bethlehem Steel, General Motors all pulled out since the 80’s. Not everyone’s cut out for trades, some people were better off screwing in bolts all day in a plant and all those jobs are gone. Baltimore used to have a population of over a million in the 50’s to put things in perspective. All of those abandoned row homes used to be occupied once upon a time.

I noticed hella people in Baltimore have to commute to the surrounding counties for work. And they make it hard to access the surrounding counties by public transit because county folks, particularly cacs, are low key scared of city folks... especially black people. But it’s like that in most city/suburb dynamics where they want to limit public transit from the inner cities to the burbs. And it’s no secret in Baltimore or any other city known for drugs that many folks jump into the dope game because the chance of making what someone makes in a whole year in a week is tantalizing.

 

[Dave24]

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

@BmoreGorilla what stable government jobs with great pay are you referring to? Put me on game.

 

[Cakebatter]

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

I appreciate the work you put into finding that stat, but 7% cant be even close to correct. Stay at home moms make up around 7% of working age adults. You still have those working under the table, selling drugs, on disability, retired young, or simply given up trying to find work. BLS stats are manipulated to prop up the economy, just like CPI (inflation).

 

[Elim Garak]

I appreciate the work you put into finding that stat, but 7% cant be even close to correct. Stay at home moms make up around 7% of working age adults. You still have those working under the table, selling drugs, on disability, retired young, or simply given up trying to find work. BLS stats are manipulated to prop up the economy, just like CPI (inflation).

Since when are we talking about these individuals in employment statistics with the exception of those that have given up looking which are included in that stat I provided.

 

[CrimsonTider]

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

Why would they count people that are not looking for jobs?

y’all are asking questions to discredit when you know that all the answers are readily available

 

[Cakebatter]

Since when are we talking about these individuals in employment statistics with the exception of those that have given up looking which are included in that stat I provided.

The laborforce is the total of employed and unemployed adults of working age. Its the basis for all employment stats. Level up bro. All those groups I mentioned are included in that definition. That number gets fudged.

 

[Cakebatter]

Why would they count people that are jog looking for jobs?

y’all are asking questions to discredit when you know that all the answers are readily available

So are people not looking for a job employed or unemployed? Asking for a friend.

 

[CrimsonTider]

So are people not looking for a job employed or unemployed? Asking for a friend.

No they’re not unemployed

you think Savanah James should be considered unemployed?

if you maga just say that

 

[UpAndComing]

Did the article explain their parameters for defining the term "unemployment" ?

 

[Cakebatter]

What do you think a credit agency will call her? How about thr HR department of a future job she applies for? Yes, Savannah James is by definition Unemployed. Its not just a mindset.

 

[JamesJabdi]

Lowest since 69

Back in 1969 you could get a job at ford outta high school have a house and a car... feed a family with one income and have a stay at home wife.

In 2023 you lucky if you dont need a roomate with a goddamn master degree.

 

[Big Blue]

I appreciate the work you put into finding that stat, but 7% cant be even close to correct. Stay at home moms make up around 7% of working age adults. You still have those working under the table, selling drugs, on disability, retired young, or simply given up trying to find work. BLS stats are manipulated to prop up the economy, just like CPI (inflation).

BLS stats are calculated the same way every year. Why do dummies continue to fail to know what indexes are and how to use them?? Are they actually representative of unemployment rates? Probably not. But are they useful to compare economic health QoQ and YoY? Yes because it's a consistent metric.

 

[BmoreGorilla]

I know Westport only has a ~30% workforce participation rate. Baltimore is one of the most deindustrialized cities on the map. Bethlehem Steel, General Motors all pulled out since the 80’s. Not everyone’s cut out for trades, some people were better off screwing in bolts all day in a plant and all those jobs are gone. Baltimore used to have a population of over a million in the 50’s to put things in perspective. All of those abandoned row homes used to be occupied once upon a time.

I noticed hella people in Baltimore have to commute to the surrounding counties for work. And they make it hard to access the surrounding counties by public transit because county folks, particularly cacs, are low key scared of city folks... especially black people. But it’s like that in most city/suburb dynamics where they want to limit public transit from the inner cities to the burbs. And it’s no secret in Baltimore or any other city known for drugs that many folks jump into the dope game because the chance of making what someone makes in a whole year in a week is tantalizing.

Yea a lot of those industrial jobs been gone since the 90s. My pops was lucky to be able to hold on to a good one and was able to retire off it a couple years ago. But these young folks coming up now weren’t even thought of when they went away. I literally seen mothers, wives , girlfriends drag nikkas off the block into the trade school like you gonna do some shyt with your life

But the whole country is deindustrialized now for the most part. Which is why I brought up state government. They literately had to lower requirements and still can’t get people. Where else can you start out making around $40k a year with just a hs diploma to answer phones, respond to emails and scan documents? Not to mention all the benefits, PTO, and a pension

Edit: Also let add that people did leave Baltimore due to a lack of jobs. When white folks started pulling out real heavy it was due to integration. Then the nail in the coffin the was the MLK riots in 68. All those industrial jobs still existed. Nowadays black folks moving into the county to get away from all the crime. Some are forced out with section 8

 

[Eternal Tecate]

Wow! Incredible! I love this amazing country!