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In the long run, the most productive, smartest, hardest working employees will probably be the ones that keep jobs. But we don't live in Lake Wobegon, and not everyone can be above average. Millenials are no less and no more capable than any other generation, and to hang the blame on them is a lazy and unhelpful.
From 35+ years of corporate drone-dom, when companies are doing poorly and there are layoffs, the most productive, smartest, hardest working employees are the first to move on to a better environment. The company that is on the ropes has nothing left after a while but low-average employees. Sure, they axed the worst of them but that doesn't mean they cleaned house on executive row where the root cause problem usually lives. Every headhunter in the world is calling in to poach the strong people. Anyone who is any good who leaves starts recruiting the strong ones to their new company.
One problem is that people between 55 and 64 can retire and I'm not able to locate that data.
Use the data from the "Not In Labor Force" tables provided by BLS. Specifically, you can use LNU05024230
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Originally Posted by Barney Oakwood
I think it is just absolutely terrible that 1 in 4 working age Americans does not have a job.
What Law of Economics says they should have a job?
Quote:
Originally Posted by Barney Oakwood
The reason the official unemployment rate is so much lower is because it ignores people who are disabled, in prison, or unemployed but not looking for work. While I agree they are not in the labor force, it is nondebatable that they do exist and require resources.
It also includes persons in hospital, hospice or rehabilitation or nursing homes.
None of those people should be included as part of the Labor Force, since they cannot work (or refuse to work in the case of those who are unemployed but not looking).
Quote:
Originally Posted by Barney Oakwood
Thoughts? Is 26% unemployment normal? Acceptable? Or disgusting?
While the BLS definition of employment is absurd (limiting the unemployed to only those who have sought work in the last 30 days), your definition is even more absurd.
From 35+ years of corporate drone-dom, when companies are doing poorly and there are layoffs, the most productive, smartest, hardest working employees are the first to move on to a better environment. The company that is on the ropes has nothing left after a while but low-average employees. Sure, they axed the worst of them but that doesn't mean they cleaned house on executive row where the root cause problem usually lives. Every headhunter in the world is calling in to poach the strong people. Anyone who is any good who leaves starts recruiting the strong ones to their new company.
This works if your firm is struggling, not so much your whole industry.
We dialed into our town hall meeting the other day and one of the PowerPoint slides bragged about how many 10+, 20+, and even 30+ year employees we have. I put down the receiver and yelled to my team "That's because there's nowhere to go!" They got a good laugh out of that.
I never said bright, hard working, productive employees never get laid off. Basically what I said was that they aren't unemployed for long if they do so long as they can bring something extra to the table. I would bet any quality employees in your firm that were laid off will have new jobs soon.
The problem with the Millenials is that a college degree isn't enough in this economy. You have to bring something extra to the table besides the degree and a lot of the Millenials haven't figured that out yet. If you want to always be employed, you have to figure out how to make yourself "indispensable" in your profession. You have to always be trying to improve yourself to make yourself better than your competition, which is everyone else in your profession. This is too much work for many people and so they struggle. There are plenty of Millenials out there who aren't struggling at all because they've got the drive to succeed that so many of the deadwood and lazy lack.
Besides the problem with demanding that every laborer be some uniquely gifted snowflake in order to make a living wage, there's absolutely no evidence this is a problem. Where are all the great jobs that can't find anyone to hire because everyone who applies is just some jerk Millenial with a college degree and no special chutzpah? And even if that's really the problem, firms should be hiring and training these workers instead of waiting for someone else to do it, or for the workforce to teach themselves all the secret techniques at midnight after their shift busing tables?
Fundamentally, you're arguing that the reason we have excess labor is because we don't have enough labor.
Besides the problem with demanding that every laborer be some uniquely gifted snowflake in order to make a living wage, there's absolutely no evidence this is a problem. Where are all the great jobs that can't find anyone to hire because everyone who applies is just some jerk Millenial with a college degree and no special chutzpah? And even if that's really the problem, firms should be hiring and training these workers instead of waiting for someone else to do it, or for the workforce to teach themselves all the secret techniques at midnight after their shift busing tables?
Fundamentally, you're arguing that the reason we have excess labor is because we don't have enough labor.
The best part was earlier in the thread the millenials are mocked as the "everybody is a unique snowflake" generation. And then later in the thread we learn that they actually do indeed need to be special snowflakes to be worthy of a job.
In the long run, the most productive, smartest, hardest working employees will probably be the ones that keep jobs. But we don't live in Lake Wobegon, and not everyone can be above average. Millenials are no less and no more capable than any other generation, and to hang the blame on them is a lazy and unhelpful.
If you got rid of all 11 million "illegal people" (a substantial chunk of which are children or students and do not compete for jobs.) and slapped tariffs on all imported good (inviting retaliatory tariffs) none of the issues we're facing would be solved. Farmers represent less than 1% of US wage and salary workers, manufacturing has been highly automated and cannot provide huge numbers of jobs.
Difficult problems usually can't be solved with Trump Rage. Sorry.
They still compete for housing, which is one reason The Rent Is Too Darn High.
Use the data from the "Not In Labor Force" tables provided by BLS. Specifically, you can use LNU05024230
What Law of Economics says they should have a job?
It also includes persons in hospital, hospice or rehabilitation or nursing homes.
None of those people should be included as part of the Labor Force, since they cannot work (or refuse to work in the case of those who are unemployed but not looking).
While the BLS definition of employment is absurd (limiting the unemployed to only those who have sought work in the last 30 days), your definition is even more absurd.
This is fascinating. Do you believe the long-term unemployed should continue indefinitely to look for work, even if employers have demonstrated unwillingness to hire them?
I ask because I am concerned that my current job might be my last because I don't see another employer in my future.
It's partly our fault as a culture for mocking what should be legitimate jobs. Should we be surprised when we use "burger flipper" as a disparaging term, that people then don't want to get a fast food job?
The problem is that Americans have always been disdainful of "unskilled labor" going back long before there were "burger flippers". It's why colonial landowners resorted to indentured servants and then slaves. Even after the end of slavery, blacks provided a virtually captive cheap workforce in the South while immigrants provided the cheap workforce in the North and the West. During the Great Depression, "Okies" and other migrants from the Dust Bowl provided cheap labor for California farmers/ranchers. After WW II, you had large scale migration of both poor whites and blacks into Northern and Midwestern industrial cities to do the crappy jobs that unionized American born whites wouldn't do. Until the 1960s, US immigration policy allowed unrestricted immigration from the Western Hemisphere because those immigrants were needed to do the field work on US farms. The reason there's so much illegal immigration today is because Americans won't do the crappy jobs that immigrants will do, and legal immigration favors the well educated and the skilled or their families. Poor people "yearning to breathe free" (and make a living) have to sneak in to do jobs that need doing. If these jobs were filled with Americans, there wouldn't be millions of "illegals" here in the US, but Americans won't do them. They have never wanted to do them, so employers have had to look elsewhere.
This is fascinating. Do you believe the long-term unemployed should continue indefinitely to look for work, even if employers have demonstrated unwillingness to hire them?
Of course! There are countless examples of people who go through very long stretches of unemployment before finding work again.
Originally Posted by Listener2307 Labor force participation is a very important metric.
Quote:
Originally Posted by LeaderOCola
for studying demographics, not for economics though.
Labor force participation is an important metric.
If, for instance, there were enough jobs for 1 in 4 people, that would be inadequate.
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The fact is, there are not enough jobs in America to satisfy the needs of a population of 325 million people.
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Originally Posted by LeaderOCola
guess what, there never have been.
and I'm wondering why you advocating a sytem with enough jobs to necessitate for child labor
Nice try at pretending to be ignorant. That you Hillary?
It does not take 325 million jobs to satisfy the needs of 325 million people.
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