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If the job market were really awesome as they say it was, we would see:
* tons of entry level jobs that require no experience, so recent grads and career changers can get into.
* zero age discrimination
* people getting nice juicy raises.
Rather we see the opposite.
* except for Mcjobs and sales jobs, there are virtually no entry level jobs that require no experience.
* age discrimination is all over the place
* wages and salaries are stagnant - even almost 10 YEARS into this "wreckovery"
So this is evidence that the job market is not as good as advertised.
If the job market were really awesome as they say it was, we would see:
* tons of entry level jobs that require no experience, so recent grads and career changers can get into.
* zero age discrimination
* people getting nice juicy raises.
Rather we see the opposite.
* except for Mcjobs and sales jobs, there are virtually no entry level jobs that require no experience.
* age discrimination is all over the place
* wages and salaries are stagnant - even almost 10 YEARS into this "wreckovery"
So this is evidence that the job market is not as good as advertised.
What I think it is is that the hiring department still sees a ton of job applications come in even with the "good unemployment rate" but the problem is, is that not everyone employing is unemployed and many currently work and are instead looking for a change or a fresh start. This makes the hiring department think they need to have "entry level jobs" look for experience and a degree and look at the age through degree and/or work experience. Sadly I don't see an end in sight.
If the job market were really awesome as they say it was, we would see:
* tons of entry level jobs that require no experience, so recent grads and career changers can get into.
* zero age discrimination
* people getting nice juicy raises.
Rather we see the opposite.
* except for Mcjobs and sales jobs, there are virtually no entry level jobs that require no experience.
* age discrimination is all over the place
* wages and salaries are stagnant - even almost 10 YEARS into this "wreckovery"
So this is evidence that the job market is not as good as advertised.
Absolutely true. This is the basic law of supply and demand. Employers have plenty of job candidates to look over and hire from in this era of "worker shortages". No need to look further beyond this evidence. This is as basic as it gets.
I'm making three times what I was ten years ago. I didn't stagnate myself. I didn't keep plodding through the same job, or same role, for a decade and expect to do better.
Learn a new skill. Find ways to apply existing skills to new problems, in new ways. Seek out more responsibility. Take some chances. The world has more than enough nine-to-fivers who show up, do their job, and go home. Those folks aren't particularly valuable. Rise above that mindset.
Indeed, the U3 is the most widely reported and second to that is U6 which was done a lot during the Obama years of recovery. This was often cited as the "Real unemployment rate" as was the LFPR.
But little besides U3 ever makes headlines, or is discussed in the top third of in the article, from USA Today to the Financial Times. The other numbers seem to always be regarded as speculative or questionable.
Just to point out, a very large part of this discussion is perceptual, not factual.
I'm making three times what I was ten years ago. I didn't stagnate myself. I didn't keep plodding through the same job, or same role, for a decade and expect to do better.
Learn a new skill. Find ways to apply existing skills to new problems, in new ways. Seek out more responsibility. Take some chances. The world has more than enough nine-to-fivers who show up, do their job, and go home. Those folks aren't particularly valuable. Rise above that mindset.
Why would I work longer hours when a lot of the money I generate goes to someone else other than me (and I don't just mean Uncle Scam either)?
The lead article in today's NYT addresses the issue of flat wages across the last decade (until their very recent and modest rise) and presents the very well supported conclusion that (among other things) wages did not rise with the supposedly booming job market for a couple of very simple reasons: the job market wasn't really that hot, and the entire picture of unemployment may be misrepresented.
Gosh, where have we heard all this before?
From the article:
The recent uptick in wage growth suggests a simpler explanation: Perhaps the job market wasn’t as good as the unemployment rate made it look.
The government’s official definition of unemployment is relatively narrow. It counts only people actively looking for work, which means it leaves out many students, stay-at-home parents or others who might like jobs if they were available. If employers have been tapping into that broader pool of potential labor, it could help explain why they haven’t been forced to raise wages faster.
It appears as if that is exactly what is happening. In recent months, more than 70 percent of people getting jobs had not been counted as unemployed the previous month. That is well above historical levels, and a sign that the strong labor market is drawing people off the sidelines.
(The NYT is running open-paywall for a few days, for reasons worth reading about while you're there, but if you need to get past the paywall limitation, use an incognito/private browser window.)
Icognito/private doesn't work, as it still uses the same IP address. Use a VPN or a Tor browser.
Unemployment has been going down steadily since about 12/10 . Unemployment was 4.7 % on 12/16 thats down from 10% in early 2010 and it has continued a slow and steady downward trip .. We had to overcome a MAJOR Recession..... and we did. But a slow continued decline really means what? Its all good as far as it goes.. But being employed for terrible wages isnt good, and for many, thats what they have and thats not directly equated to the economy itself. **** Poor Wages for the majority of workers is directly related to lying thieving greedy SOBS hahahaha... For most workers wages have been stagnant for decades, while Higher Echelon positions have rapidly increased often at double digit percentages every year.. Ahhhhh but its worse for some than others.. The Lowest paying jobs seldom get any raises and those workers often have to compete , with workers who reside here illegally. Face The Truth ... We are not all the same.. We were NOT All created equally ..
Wage stagnation for decades for a lot of people while the top 10-20% have great increases in wages. Does that have anything to do with:
1.) The Federal Reserve
2.) Rampant illegal and legal immigration
3.) A large quantity of people working for someone else than for themselves
4.) Higher taxes and operating costs, which hurt workers and small businesses who don't have sweet deals with Uncle Sam
5.) Decreased competition due to crony capitalism and government regulation forcing a lot of little guys out of the market, thus allowing monopolies or oligopolies to form and thus allow certain huge business which dominate the market to treat their workers like dirt
6.) Increased costs of college education with concurrent decreasing value of college diplomas
But little besides U3 ever makes headlines, or is discussed in the top third of in the article, from USA Today to the Financial Times. The other numbers seem to always be regarded as speculative or questionable.
Just to point out, a very large part of this discussion is perceptual, not factual.
Those are the headline numbers used regardless of who is in power.
Personally, I'm an advocate of a broader U6 measurement being the standard, but drop in U3 is showing something.
Figures other than U3 are rarely reported, and has nothing to do with maintaining that all these figures are becoming detached from a changed economic/employment reality.
Reality is the job market is better than it has been in decades, as is shown by measures of unemployment taking into account the things mentioned in the article.
Could things be better? Sure, but it's simply not true to say the job market isn't significantly better than it has been in a long time.
Quote:
Originally Posted by bobsell
If the job market were really awesome as they say it was, we would see:
* tons of entry level jobs that require no experience, so recent grads and career changers can get into.
Unemployment for recent college grads is at an all time low. It's extremely easy for people with a degree, but no experience to find jobs.
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