The reported unemployment rate is hanging somewhere around 5%. But when you address the underemployed, marginally attached, part-time, and discouraged workers who have given up all together the number is really around 22%. Not to mention everyone that has substandard health insurance, no retirement benefits, or are working for poverty-level wages.
As we enjoy our labor day we need to assess the strong labor and union movements beginning in the 19th century that fought for basic health and safety standards at work, against child labor, and for the 8 hour work day. Also to ask if the economic recovery has been one for the workers or one for the 1%.
peace @clumsysilverdad
References
http://www.shadowstats.com/alternate_data/unemployment-charts
https://www.thebalance.com/what-is-the-real-unemployment-rate-3306198
https://www.nationaleconomicseditorial.com/2017/06/26/real-unemployment-rate/
nice post upvoted
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I'm surprised if anyone really believes anything that comes from the government, especially data numbers regarding the economy.
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There's something definitely wrong with your basic analytical skills if you do.
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It is called head in the sand syndrome.
People simply do not want to know....they honestly couldnt handle the truth.
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I think most american's could care less or do not pay attention. They would rather watch the Kardashians, Judge Judy or Survivor...
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A great post and much facts stated. The MSM conveniently like to omit the under employed when talking about the economy. There were millions who were displaced after the last economic collapse who never recovered. Now, 10 years later, many are scraping by on social security and some bs job. It is really sad. I have a friend who was making $80K as a roofing supply salesman...he now drives a cab and a bus making $20K a year between the two. Social security helped him a bit but he is still just existing.
As for the unions, they are dead. People who want to return to that fail to understand the technological change that is occurring. Jobs are being lost, and will be eliminated in droves over the next 10 years, because of automation and AI. When wages increase, which they havent nationally for two decades, there is more incentive for the corporation to automate and that is what they do.
Another thing the MSM doesnt tell people: the US manafacuturers more now than it ever did before. Our output is the highest it has ever been. The problem is the jobs associated with manufacturing are way down. Next up is retail. Then cab drivers. Then truck drivers. Bricklayers. Paralegals. Accountants. Market analysts. Investment advisers. Real estate appraisers.
For this reason, the only solution to me that makes sense is a basic income. Of course, the US will be the last to embrace it since they cant even get healthcare done. Nevertheless, when white collar people start to lose their jobs en masse....the politicians will start to feel the heat.
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There are a lot of stories like that out there. Thanks for sharing. Yes, there really is no popular discussion about the realities of the future, just clinging to past images of success and myths. The 1% are busy sucking as much out until the next insider dump and crash occurs. I didn't know U.S. manufacturing output was that high. Interesting list of jobs too, ty.
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