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That's basically civilian labor force participation rate, not unemployment rate. It's fairly normal, yes. At its highest, civilian labor force participation rate was 67.3% and is currently 62.6%. A lot more young people aren't working because they're getting an education. Usually the types of jobs students had are the ones we're now calling for a $15/minimum wage for, flipping burgers and the like. Stay-at-home moms is also increasing, combined with the new emergence of stay-at-home dads.
It really doesn't bug me at all. As long as people aren't on welfare, I don't particularly care if they work or not. That's a personal decision. If they don't want to work because they're focusing on school and the employment opportunities aren't that great or so they can be a stay-at-home parent or just stay-at-home wife/husband, I'm fine with that. The only part of it that does trouble me is trying to turn jobs for teenagers and college students into de facto careers. Part of the reason students aren't working is because those jobs are now taken up by people working them as careers instead of part-time jobs while they improve themselves. Again, I'm fine with that but not in conjunction with using the government to enforce a paradigm shift to substantially higher minimum wage. Index it to inflation, fine. Double the minimum wage in a short time frame? Not fine.
Welcome to the New Economy! I don't see that changing in the foreseeable future.
Teens should just forget about getting a part-time after-school job and become entrepreneurs.
Not only does the official rate ignore those who aren't searching, but many who are working jobs well below their skill level, or part time when they want to work full time.
Don't extrapolate your bitterness to that of all Americans. Some of us are *gasp* happy with our lives. Just because you are unhappy with your life doesn't mean the rest of us should be gathering pitchforks and heading to Washington.
Not only does the official rate ignore those who aren't searching, but many who are working jobs well below their skill level, or part time when they want to work full time.
Why on earth would we want to count someone who isn't working or searching for a job as part of the unemployment rate?
How would you propose we quantify someone is working below their skill level to consider them unemployed?
Meh- My wife is college educated and can work FT is she so desires but raising our two kids is more important, and I make more than enough to cover the household with a modest and frugal standard of living.
She works p/t with no bennies and 100% of what she makes goes into savings and investments.
And I know about a dozen families like that. Maybe more if I really put my head into it, but I'm not.
Welcome to the New Economy! I don't see that changing in the foreseeable future.
Teens should just forget about getting a part-time after-school job and become entrepreneurs.
You might as well say "teens should just forget about getting jobs and become wealthy middle-aged people." How many non-educated capital-less entrepreneurs can we fit into our economy?
You might as well say "teens should just forget about getting jobs and become wealthy middle-aged people." How many non-educated capital-less entrepreneurs can we fit into our economy?
Just depends how much deficit spending and tax increases we allow.
This is nonsense. Children and the elderly do not count. Yes. My 5 year old doesn't have a job. What a slacker she is...... Smh...... If the unemployment rate was 26 % for working age adults we would be Jamaica...... That's one out of ever 4 people you know. BS..... My 89 year old grandma is out of a job to. Geeeeez. Its more like 6%...
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