Posted on 08/12/2022 7:22:40 AM PDT by SeekAndFind
And how many have to work 2 or more jobs to keep up?
So.. more people producing less.
“Some are actively working to undermine the bastards that screwed them over.”
Oh wow, the first time I’ve seen this on FR. By the time they find out, it will already be done in most cases. Mene out.
I strongly suspect this is nonsense, as anyone who has spent time working crappy, low-level jobs can tell you. There is simply no way that stimulus money enabled them in effect to retire.
What did happen is that many older people eligible for retirement and looking at layoffs or wage cuts simply retired. This caused many people at the bottom to move up the food chain, creating more openings at lower levels. In addition, many lower wage two income households realized that they lost very little and gained much after the woman lost her low-paying service job. They haven't gone back to work, especially if the husband got some wage increases. In addition, at least some of those who got stimulus checks used them to move elsewhere and find better work. They aren't going back either. Plus at least some workers can't go back to low paying jobs now because they can't pay for gas.
The lockdowns effectively wrung out a lot of people at the lousy low end of the labor market . They either moved up or moved out and they aren't going back unless wages really, really increase.
Who can afford to work for $15/hr?
In many places that won’t even let you afford a small apartment with a 10-year-old car.
Those really aren’t serious jobs.
We can hope. :-)
Unemployment is a lagging indicator. Buckle up for a bad end to 2022.
High Tech is starting to let people go.
Intel destroyed their company by embracing diversity and chasing quad patterning 7nm.
These two decisions cost them Apple as a customer as they were over 7 years late getting what Apple wanted.
Looks to me like jobs are being migrated to either government or large corporations. Getting rid of the middle class and ushering in a third-world (i.e., two-tiered) caste system.
That's meant to be entry level, not something you live on. You start at that wage when you are 15 years old, then climb the job ladder through advancement, movement into other jobs, or education.
Do you really think that entry level wages should be high enough to live on?
Its a full employment recession because the government is buying employees. The government has never hired as many people. The government has never had so many consultants. And the government has never paid out so many benefits. This is not a great economy. This is socialism. About half the economy is living off the government teet in one way or the other.
Employment numbers I believe are a full 5 million fewer than they were in 2019…
Anyone telling you we are at full employment is just playing statistical games..
Tench_Coxe said: peter principle management continues to talk about how even more diversity/equity/inclusion and good esg scores are the way to success.
It’s all fun and games until the lights go out.
Personally, as an X-er, I feel like the Boomers are the only thing keeping the lights on these days. There’s just not enough of us X-ers to go around, and many (like myself) are disillusioned, and want off this merry-go-round ASAP.
Which will leave the bag in the hands of the Millenials and Z’s, etc. who are busy proving to the world that they can’t find their gender with both hands.
So, yeah, sorry for this message of hope. Maybe I need some more coffee.
Full employment will change soon. Or better put, full people collecting paychecks will end soon. Productivity has fallen to record lows. That means some people are not working hard and being productive. They will be the first to lose their jobs. Unemployment will go through the roof by the end of the year. That God I am retired. It sucks to be the doing the job of multiple people. Been there. Done that.
There are 10’s of millions of Adults working at that wage level, so no they are not entry level jobs.
These jobs are being priced out of the market because workers can’t afford to take them. They make a better living driving an Uber.
The market will eventually adjust or many of these jobs will disappear for good.
That is kind of my take on the situation. I am an X’er in my late 50’s and if the market goes up enough I’m outta here early next year. I told a colleague who retired last year I was contemplating retirement and she said oh no, when you retire they will close that department, there is no one left who knows how to run it or what to do and she is right I hate to say. Administration is clueless and the new employees are not here long enough to learn 2+2=4. They can fill my position and that person have a steep learning curve or close it, I really don’t care either way.
I’m tired, I hurt and I’m sick of the woke BS from a bunch of children who refuse to grow up. Falling on their butts hard a few times might wake them up.
That will change soon enough. But in principle it’s easy to have full employment and a recession: Just use regulation and boneheaded central planning in a totalitarian government to make the workers less and less productive at actually meeting the needs and wants of actual consumers.
No such thing. There is a wage shortage.
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