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Why unemployment rate in America should not be so low?

Posted: Thu Feb 15, 2018 10:58 am
by Potatos
  • The decline of labor participation rate is downplayed, when in fact it may be the biggest contributor in such a low unemployment rate as unemployment measures total unemployed workers as a percentage of the civilian labor force. Ten years after the Great Recession, civilian labor force participation rate is still in decline and millions of prime-age males, are still not in the labor force.
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  • Wages aren't going up
    Typical take home pay is about the same today as it was 20 years ago, adjusted for inflation. By working all these years, middle class families aren't really getting ahead. They're just getting by. Contrary to America are countries like Italy and Spain, with extremely high unemployment rate for many years, the life expectancy is still around 84 years, way higher than Americans. If working is not giving you a longer or a better life, why are we working?
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  • Between regular living expenses and high health care costs, the poor just have to work to survive. In reality, a large and growing share of the nation’s poor work full time — sometimes sixty or more hours a week – yet still can’t earn enough to lift their families out of poverty.
Americans who became enormously wealthy over the last few decades are now busily transferring wealth to children and grandchildren. The nation is undergoing the largest inter-generational transfer of wealth in history. This is the kind of dynastic wealth that’s kept Europe’s aristocracy going for 10 centuries. Once completed, the land will become the land of entitlement permanently. After a few generations of this, almost all of the nation's wealth will be in the hands of a few thousand families.
It puts economic power into the hands of a very small number of people who have never worked, but whose investment decisions will have the biggest effect on the country.

Consider the rise of both the working poor and the non-working rich.In spite of an unemployment rate that looks great on paper, the American economy is diseased. It’s rotting from within as companies just do anything and everything to reduce costs to increase profits.

The unemployment rate might keep dropping, there may soon not be any livable jobs left.

Worried about the American dreams? Don’t. The rich controlled media will motivate the mass by giving them some grand illusion of being independent entrepreneurs once going to university will only bring you student debt instead of a great future. There will always be a few self-made success stories to throw thousands of young people at random things, give them some pocket money and hope something sticks.

Re: Why unemployment rate in America should not be so low?

Posted: Thu Feb 15, 2018 1:14 pm
by Sickened
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I find it very annoying that you are most likely right, but maybe not quite the way you put it.
For one thing “labor participation” just changes the apparent rate, making it look lower so it’s a bit confusing to see it next to “should not be so low”.
Also, I think there would be nothing wrong with low employment if it didn’t come with the other problems you highlighted, so the poll is rather meaningless as it stands.
BUT:
If one takes the time to read the context it starts to make sense.
It does look like people can’t afford to hold off for better jobs, and need to work whatever they can get which does seem to get worse every year.
The “gig economy” is romanticized and proposed as a good thing when in fact it keeps most people forever scrambling/hustling for income, without benefits, without a safety net.
It is amazing how greedy the rich have become.
When I first got out of “socialism” a friend told me it’s good the rich should be rich because they “give” and they provide jobs (in a nutshell).
I think there’s very little of that. Instead they (most of them) do anything to get richer. If they can, they’ll just outsource as much as they can, and they have “excuses”: shareholder value, etc.
Not just the CEOs, the boards of directors, the activist shareholders, pretty much the ones that are rich enough to make or influence the decisions.
In the mean time, they are smart enough (or have smart enough people working for them) to give “the people” “bread and circus”.
Looking at old Super Bowl half-time shows, I saw again Lady Gaga “This land is your land” ... “with liberty and justice for all”. Very emotional, it almost makes you believe it’s true. Ha!
I don’t have a solution; it’s not worth my while looking for one as nobody listens to me.
One thing I see: politicians are part of the rich so they have no interest in making it better; their only interest is to stay on top as long as they can. And they can only do that by promising less pain. Forget that the situation is so crappy that only some pain can make it better. They don’t care to make it better, only seem they cause little pain.

Trivia: Which rich French actor gave up his country and became a Russian citizen over taxes? Gerard Depardieu.
See: https://www.google.ca/search?q=Depardie ... +for+taxes

“They” say you can’t tax them more, or they’ll leave. If all “good” countries had decent taxes for the rich, then just let them go to their private islands or tax havens. They may not like it where they have to go.