Pittsburgh FRED charts - unbiased economic snapshots (apartments, home)

[eschaton]

Originally Posted by Craziaskowboi

Heh, oops.

Yeah, not sure I believe the Census has fixed whatever the hell was ****ed with the American Community Survey. Lots of cities/metros had a projected drop which never manifested...then they went right back to projecting even bigger drops for 2021.

[Reggiezz]

Originally Posted by erieguy

Contrary to what we’ve heard about young folks supposedly saving the country, this says otherwise. Living in fear and shutting it down continues to have huge consequences.

Young workers left Pennsylvania's labor force at the highest rates after the pandemic began

https://www.wesa.fm/economy-business...pandemic-began

I read recently that 1 in 4 20-somethings are living with mom. We see a few posting here.

[Moby Hick]

Originally Posted by Reggiezz

I read recently that 1 in 4 20-somethings are living with mom. We see a few posting here.

Everyone here seems pretty old. Most of the names have been around for years.

[SteelCityRising]

Originally Posted by Moby Hick

Everyone here seems pretty old. Most of the names have been around for years.

I'm one of the younger ones on here, and I am in my mid-30's. I am pretty sure Eschaton, Erieguy, you, and most of the other regulars are Gen X'ers. We might have a Boomer or two (RetireInPA, Copanut, gg).

[erieguy]

Originally Posted by Reggiezz

I read recently that 1 in 4 20-somethings are living with mom. We see a few posting here.

Would be no surprise. Tough to pay the bills when they choose not to work.

[SteelCityRising]

Originally Posted by erieguy

Contrary to what we’ve heard about young folks supposedly saving the country, this says otherwise. Living in fear and shutting it down continues to have huge consequences.

Young workers left Pennsylvania's labor force at the highest rates after the pandemic began

https://www.wesa.fm/economy-business...pandemic-began

Originally Posted by erieguy

Would be no surprise. Tough to pay the bills when they choose not to work.

Are "gig" workers included in the labor force participation rate? For example, if you don't have a traditional 40-hour-per-week office job or trade job or manufacturing job but instead work 40 hours per week by doing 10 hours per week delivering GrubHub; 10 hours per week driving for Lyft; 10 hours per week doing Wag to walk dogs; etc.? Seems like the VAST majority of today's gig workers are Millennials.

[erieguy]

Originally Posted by SteelCityRising

Are "gig" workers included in the labor force participation rate? For example, if you don't have a traditional 40-hour-per-week office job or trade job or manufacturing job but instead work 40 hours per week by doing 10 hours per week delivering GrubHub; 10 hours per week driving for Lyft; 10 hours per week doing Wag to walk dogs; etc.? Seems like the VAST majority of today's gig workers are Millennials.

It clearly states they’re choosing not to work. Perhaps you should research that and let us know.

[wpipkins2]

Originally Posted by erieguy

Would be no surprise. Tough to pay the bills when they choose not to work.

Or easier to save for future use. My daughter lives at home and will continue to to so until she is financially set. I am focused on her saving and preparing for the future. My house is large enough to accommodate adult children.

[eschaton]

Originally Posted by SteelCityRising

Are "gig" workers included in the labor force participation rate? For example, if you don't have a traditional 40-hour-per-week office job or trade job or manufacturing job but instead work 40 hours per week by doing 10 hours per week delivering GrubHub; 10 hours per week driving for Lyft; 10 hours per week doing Wag to walk dogs; etc.? Seems like the VAST majority of today's gig workers are Millennials.

Yes, they are included. Though interestingly, there's been a big discrepancy lately between the two labor force surveys.

Essentially, the BLS does two surveys every month. They survey businesses to see if they're hiring, and they survey individuals to see if they're employed. The former is used to report the number of jobs created/lost, the latter is used to come up with labor force participation/unemployment numbers.

The last few months have shown repeated robust job growth when it comes to the employer survey, but negative changes on labor force participation/static unemployment. The conclusion is that most of the job growth employers are posting must be because people are shifting from self-employed to collecting a company paycheck.

[erieguy]

Originally Posted by wpipkins2

Or easier to save for future use. My daughter lives at home and will continue to to so until she is financially set. I am focused on her saving and preparing for the future. My house is large enough to accommodate adult children.

And tough to pay the bills when one doesn’t work as we’ve seen with the recent numbers. Adult children don’t take up much more space than adolescent children, so not a big deal.