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To answer you questions, the free market dictates these things, not you. This isn’t Soviet Russia.
oh, of course.
I'm not worried about McD's or Wal-Mart having trouble hiring the same # of folks as 2019 between minimum wage and $20/hour. I don't have to go to either for my "fix". I can drive another 5 minutes or pay a buck extra for my occasional fast food lunch.
I'm just agreeing with why we don't need as many many low-wage workers as some folks say. I'm agreeing that no one should think they can live alone or "support a family" at 35 hours/week in a low-wage job.
Another thing that has been pointed out more than once in the forum is that initial claims for unemployment insurance (the subject of this thread) measure the rate of layoffs, not the unemployment rate. So yes, it is indeed a "good" thing because a falling number of initial unemployment claims means fewer people are getting laid off.
And FWIW, no, we are no longer losing people from the labor force. Since Feb (Biden's first full month), the size of the US labor force has risen from 160,211,000 to 162,052,000. That's about 1.8 million: https://fred.stlouisfed.org/series/CLF16OV
how does it compare to 24 months ago though?
oh wait - the chart tells us. It's ~2.5MM fewer people in the workforce.
oh wait - the chart tells us. It's ~2.5MM fewer people in the workforce.
Of course we have fewer people. Some companies are mandating vaccines. Other companies are limiting how many people they hire due to COVID restrictions. Some businesses completely shutdown (mostly smaller companies, though some national chains have too.) The other side is people don't want to work. Maybe their employer is low-balling them. Maybe childcare is too expensive for them. Maybe they rather work at home and their employer doesn't want to.
Of course we have fewer people. Some companies are mandating vaccines. Other companies are limiting how many people they hire due to COVID restrictions. Some businesses completely shutdown (mostly smaller companies, though some national chains have too.) The other side is people don't want to work. Maybe their employer is low-balling them. Maybe childcare is too expensive for them. Maybe they rather work at home and their employer doesn't want to.
you're getting confused about the LFPR - Labor Force Participation Rate.
Everyone that is of working age (16-65) either employed or looking for work is in that #.
Anybody that doesn't "want to work" - for any of a myriad of reasons including those you stated - is not in the figures being discussed.
you're getting confused about the LFPR - Labor Force Participation Rate.
Everyone that is of working age (16-65) either employed or looking for work is in that #.
Anybody that doesn't "want to work" - for any of a myriad of reasons including those you stated - is not in the figures being discussed.
It is often when we bring up the whole "the US economy isn't good" comments by Republicans. Especially with the last two Democrat presidents. That is the problem.
oh wait - the chart tells us. It's ~2.5MM fewer people in the workforce.
LFPR is based on the population overall, not workers, so idk why people even use it.
68 year old who retired because it just didnt make sense to keep working during a pandemic shouldnt be used in a political argument.
The U6 unemployment rate is 7.8..... It was 6.8 in December of 2019
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