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zoiddirkoid t1_je6xnz0 wrote

Reply to comment by Fun-Transition1230 in Stagflation 2023: The Looming Economic Nightmare You Can't Afford to Ignore by Wega58

Those who fall off unemployment benefits are not seeking jobs. They are not unemployed.

Senior citizens don't have jobs so should they be counted as unemployed?

No.

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Fun-Transition1230 t1_je6y9d2 wrote

Unemployment rate uses the same math as Chairman Maos grain harvests.

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Archimedes_Redux t1_je7p41m wrote

Always a drought.

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Fun-Transition1230 t1_je7q8bm wrote

Always excellent grain harvests. Economy is strong.

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Archimedes_Redux t1_je7u2bo wrote

5 year plan going well?

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Fun-Transition1230 t1_je7uimp wrote

No because of the (insert minority party) meddling.

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Archimedes_Redux t1_je7x9n7 wrote

Same as it ever was.

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Fun-Transition1230 t1_je7y4gi wrote

Only since Nixon. Before that the US built all sorts of massive infrastructure projects like China does now.

We're only affluent now because everyone believes our tulips are actually worth something.

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Fun-Transition1230 t1_je6y09j wrote

So if they eliminated unemployment, nobody would be looking for a job and the rate would be 0%?

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zoiddirkoid t1_je6z0wo wrote

That's an utterly moronic thing to say.

Unemployment rates reflect those who are seeking jobs and can't find one.

There are complexities with skill set misalignment and other factors that are hard to gauge.

Your claim that true unemployment is at 40% is absolutely absurd. There are millions of job openings currently. A stay at home mom who is not seeking a job is not unemployed. There are people who will not work, ever.

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