Posted on 10/07/2022 6:37:25 AM PDT by ChicagoConservative27
Yup. This was the big trick during the Great Recession. People were out of work for a long time. Therefore it doesn’t count. They “gave up”.
Of course nobody asked them if they “gave up”. We’re just going to say they did because if we counted them, it would look bad for the government.
Unexpected!
Over a half century I have made note that the word “unexpected” in economic news context seems switch whether it refers to good news or bad news instantly every time the presidential party changes
Let the drinking games begin!
There are a lot of jobs available, but at minimum wage. Fast food joints, restaurants, retail clerks, etc. Few can afford to live on those wages unless they work 60-80 hours a week. Some places are raising their wages but that fuels inflation.
Here in southern California a one-bedroom apartment in a nice area goes for $1,800/month. You have to make three times that much in income to qualify on the apartment application.
Not unexpected. I’ve been calling for increased unemployment in Q4, for several months now. Anyone who lived through and paid attention to the economy in the 70’s and into the 80’s should be able to see a familiar pattern develop today. Don’t pay any heed to what the mental midget journalists and buy-the-dip market pimps are saying. Look at the cycle from the 70’s and compare what was done then and what is being done today by government. We’re at the beginning of this mess, not the end. This highest inflation in 40 years crap is simply looking back at historical figures and stopping on the last date that matches. That’s weak and lazy thinking. Unemployment is going to go through the roof over the next six months. It begins now. That’s what happens in a recession with high inflation. Something has to go, and it’s labor. Sucks to be you if you still have a job, because you’ll be doing the work of two very shortly.
Not unexpected. It is planned by the Feds to stop inflation. They flat out state they want higher unemployment to combat inflation and are doing this by raising interest rates.
Anyone with half a brain can figure that out. But you know these are journalist so it must be over their heads.
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