Larry Summers said the likelihood of a US recession is rising

Walt said:
You claim that a third of America is unemployed, and that the government is hiding that. Sorry, but that is not the world I am seeing.
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Feb 2023 ShadowStats Alternate Unemployment increased to 24.6%.

I merely posted an Alternate Unemployment website with a number much closer to people who can't find work or work with enough hours. If you read through ShadowStats, it explains how government cheats the numbers simply by counting 8 hours of work in one month as being employed. Even at $30 an hour that's only $240 a month. Government is an expert at fudging the numbers. It will make your head spin seeing how things are hidden in plain sight.
 
goat said:
Feb 2023 ShadowStats Alternate Unemployment increased to 24.6%.
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They add in all sorts of people who do not want a full time job. And include people who have a job, but want a full time job (underemployed). You then added those people in again, to get a third unemployment.

A third of people who want jobs are not unemployed. Anyone with a brain knows that. There is very little unemployment. Most of the unemployment is people who want a better job, and are not willing to take a worse job yet, or people who have severe problems that prevent them from getting a job(no matter how great the economy is). In some isolated areas, there are lack of jobs, but anyone who can move around reasonably can get some sort of job.

goat said:
I merely posted an Alternate Unemployment website with a number much closer to people who can't find work or work with enough hours. If you read through ShadowStats, it explains how government cheats the numbers simply by counting 8 hours of work in one month as being employed. Even at $30 an hour that's only $240 a month. Government is an expert at fudging the numbers. It will make your head spin seeing how things are hidden in plain sight.
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What sort of person can get 8 hours a month, but no more? That is nearly impossible in this economy.
 
Walt said:
They add in all sorts of people who do not want a full time job. And include people who have a job, but want a full time job (underemployed). You then added those people in again, to get a third unemployment.

A third of people who want jobs are not unemployed. Anyone with a brain knows that. There is very little unemployment. Most of the unemployment is people who want a better job, and are not willing to take a worse job yet, or people who have severe problems that prevent them from getting a job(no matter how great the economy is). In some isolated areas, there are lack of jobs, but anyone who can move around reasonably can get some sort of job.



What sort of person can get 8 hours a month, but no more? That is nearly impossible in this economy.
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I see nothing wrong with that. Lot of zoomers out there with a master's degree working 30 hours a week for $15 an hour. They deserve a better job. Maybe they could move out of their parents house on the cul-de-sac and get their own apartment. Easier said than done.
 
goat said:
Lot of zoomers out there with a master's degree working 30 hours a week for $15 an hour. They deserve a better job.
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Zoomers range between 10 and 26. Some of the oldest could have master's degrees, but there are not a lot of them with master's degrees. Having a master's degree can be tricky, but usually you can get a good job if you hustle. The important part is to remember that you do not deserve a good job, and then you will get a good job. I guessing you are from one of the generations that just automatically got good jobs, so have no idea what I am saying.

I agree it is often a good idea to hold off on taking whatever job, while you find a good job. So I certainly understand the computer engineer who rejects the pizza delivery job to keep trying to get a better job. They are mostly going to get that better job, because the job market is very strong right now.
 
Walt said:
Zoomers range between 10 and 26. Some of the oldest could have master's degrees, but there are not a lot of them with master's degrees. Having a master's degree can be tricky, but usually you can get a good job if you hustle. The important part is to remember that you do not deserve a good job, and then you will get a good job. I guessing you are from one of the generations that just automatically got good jobs, so have no idea what I am saying.

I agree it is often a good idea to hold off on taking whatever job, while you find a good job. So I certainly understand the computer engineer who rejects the pizza delivery job to keep trying to get a better job. They are mostly going to get that better job, because the job market is very strong right now.
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If the markets were strong, we wouldn't have so many millennials living at home on the cul-de-sac with their parents. Culture goes by an event, not by generation. The event was 1994-1995 when every middle-class family had a few cell phones and possibly a computer. Millennials occupy this time with Zoomers. The cellphone changed everything.

I'm from generations of opportunity. Young folk don't have the opportunities we did. Every minute of the day their phone is involved. The phone made us into what we are. All you have to do is figure out why.
 
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