#1 2019-05-10 08:10:12
April employment numbers purport to trumpet a record low 3.6% unemployment rate and another month of 263,000 new jobs created.
The April number is for new jobs, not newly employed workers. Moreover, it’s mostly part time, temp or low paid employment, more often workers taking on second and third jobs.
Full time jobs actually declined in April by 191,000, following a decline in March of 228,000.
Last edited by choad (2019-05-10 08:10:54)
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#2 2019-05-10 10:50:55
We're one "oops" away from 10% unemployment again, and that oops may have already occurred. The chickens hatched during the tax breaks of 2017 and 1.1 trillion dollar stock buybacks of 2018, have come home to roost in Market Caps that are way over the line from normal. This is why buybacks used to be illegal before the robber barons took over Congress.
Also, take sports and entertainment jobs out of the equation and a graph of wages adjusted for inflation has been a flat line for almost forty years. Unbridled Capitalism - All the money goes to the rich. Unfettered Communism - All the money goes to the Government. No wonder they're so scared of Democratic Socialism.
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#3 2019-05-11 02:04:15
One thing has a shelving bank,
Another a rotting plank,
To give it cozier skies
And make up for its lack of size.
My own strategic retreat
Is where two rocks almost meet,
And still more secure and snug,
A two-door burrow I dug.
With those in mind at my back
I can sit forth exposed to attack
As one who shrewdly pretends
That he and the world are friends.
All we who prefer to live
Have a little whistle we give,
And flash, at the least alarm
We dive down under the farm.
We allow some time for guile
And don’t come out for a while
Either to eat or drink.
We take occasion to think.
And if after the hunt goes past
And the double-barreled blast
(Like war and pestilence
And the loss of common sense),
If I can with confidence say
That still for another day,
Or even another year,
I will be there for you, my dear,
It will be because, though small
As measured against the All,
I have been so instinctively thorough
About my crevice and burrow.
-Robert Frost
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#4 2019-05-22 09:21:05
It's the myth of the "Full Time Equivalent". 3 Uber drivers working second shift after their 32 hours at WalMart = +1 FTE. The gig economy looks good on paper, but it's no way to live.
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