“If you choose to disagree with this FACT, how else will you explain the U.S. unemployment rate hanging around 5% or lower?”
The unemployment rate is a political number subject to manipulation. Show me the number of people filing a 1040 each year and the amounts they earn. That is what matters, not some ficticious politically manipulated number.
But my point about insourcing vs. outsourcing remains.
That’s true of any year though, not just now. I will tell you as an operations mgr for a retail chain in 18 states, the last year by far has been the toughest to retain staff due to people leaving for better jobs. This includes the cashier making $8 an hour to the store manager making $60k a year + bonuses. I’d say 5% unemployment rate is probably accurate on the east coast. If you work in residential construction or in manufacturing, you may have a different POV though.
“The unemployment rate is a political number subject to manipulation. Show me the number of people filing a 1040 each year and the amounts they earn’
The unemployment rate only reflects those who are actively looking and who have filed for unemployment. Those who give up looking or take a lower paying job are not included. A person who was making $80k forced to take a $50k job to pay their mortgage is not counted.
That's a very good point, but it also works both ways.
I don't know a single person who is currently unemployed. In fact, I know a lot of people who are always worried about unemployment, outsourcing, etc. -- but none of these people have ever been unemployed in their lives.