Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That will bring up enough sites largely News sites, that do think the U6 rate is the real unemployment rate as the U3 only gives a very narrow evaluation of the unemployment situation.
With all the fake news out there, how would we know if Google is displaying the real unemployment rate or a fake unemployment rate?
Cannot believe how well the economy of the US is doing given the considerable headwinds facing Europe and Asia.
- Stock market has dipped a bit but still rebounding strongly from every dip, it crashed 1000 but regained everything in a matter of 2 days
- Home prices are reaching astronomical highs. Here in Southern California the market is on fire even stronger than the peak of the last bubble. Economists claim real estate market is solid and will still go up.
- Job market is robust with low unemployment and strong incomes. Six figure incomes seem to be the norm here in Southern California for those with a degree in STEM. Even entry level college grads in STEM are receiving offers of $80k+. Experienced people $150k+ package (with bonuses taken into account). Someone I know got a $15,000 sign-on bonus which was crazy just a few years ago. Non STEM is a bit lower but still solid.
- Restaurants are flooded, car dealerships are flooded, people are spending money like crazy
Just a few minutes ago, while listening to talk radio, I was reminded that there are a record number of young adults living 'at home' with parents today.
This is an alarming symptom of an ailing economy. Junior has grown up and still living in his childhood room. The Rent Is Too High, and wages are insufficient to enables Junior to pay them.
This reflects a lost generation of millennials who will never own a home, and who, if they live long enough, will consequently become destitute when they are no longer able to work, thereby representing a demographic time bomb. (Dollars spent on Too High Rent cannot be invested a worker's retirement plan.)
So if you really believe the economy is better than ever, enjoy it while you can, because it won't last.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,206,701 times
Reputation: 57821
Quote:
Originally Posted by freemkt
Just a few minutes ago, while listening to talk radio, I was reminded that there are a record number of young adults living 'at home' with parents today.
This is an alarming symptom of an ailing economy. Junior has grown up and still living in his childhood room. The Rent Is Too High, and wages are insufficient to enables Junior to pay them.
This reflects a lost generation of millennials who will never own a home, and who, if they live long enough, will consequently become destitute when they are no longer able to work, thereby representing a demographic time bomb. (Dollars spent on Too High Rent cannot be invested a worker's retirement plan.)
So if you really believe the economy is better than ever, enjoy it while you can, because it won't last.
Interesting data on that, 1960 was the big peak in 18-34 year-olds married or cohabiting, but for them living with parents, this new record is not much more than 1880-1940. The lowest, 1960, was most likely due to the number of WWII veterans coming back in the late 40s, getting jobs and marrying. For people we know, many came back home in the recession and took a few years to get back on their feet, but all are now back on their own, several having bought homes in the last few years.
Just a few minutes ago, while listening to talk radio, I was reminded that there are a record number of young adults living 'at home' with parents today.
Multi-generational households are a force for broad-based economic stability.
Interesting data on that, 1960 was the big peak in 18-34 year-olds married or cohabiting, but for them living with parents, this new record is not much more than 1880-1940. The lowest, 1960, was most likely due to the number of WWII veterans coming back in the late 40s, getting jobs and marrying. For people we know, many came back home in the recession and took a few years to get back on their feet, but all are now back on their own, several having bought homes in the last few years.
Yes, I believe that traditionally, when girls grew up, they usually stayed in their parents' home until they married. When boys grew up, they were considered "unmarriageable" until they were financially able to support a family, and something like 25% didn't marry, so there were also a lot of unmarried women living with parents. Men were more mobile, often relocating to find work, and were more likely to be living and working on a farm (as a hired hand) or working in a new city and living in a rooming house.
Just a few minutes ago, while listening to talk radio, I was reminded that there are a record number of young adults living 'at home' with parents today.
I hate when people use misleading useless statistics like this. If we take away all other variables and the percentage of young adults living at home stayed constant, you'd still be able to repeat this alarming statistic every year since the population of the United States grows. Same with other stats, OH MY GOSH there are more homeless people in a country of 320 million people than when the country had only 300 million people. It must indicate a trend of a failing economy, the US is just like Rome a collapsing empire.
Quote:
Originally Posted by freemkt
This reflects a lost generation of millennials who will never own a home, and who, if they live long enough, will consequently become destitute when they are no longer able to work, thereby representing a demographic time bomb.
No it doesn't. You're taking a ridiculous leap of (poor) logic in assuming that a young adult who lives at home will forever remain a financial/career/social failure. Sometimes people face a setback and need to reboot and get their feet under them, it doesn't mean they are all destined to become some middle aged minimum wage burger flipper loser.
It also doesn't reflect a "lost generation" unless you can demonstrate it represents the majority of that generation. Median weekly earnings here: https://www.bls.gov/news.release/wkyeng.t03.htm
Age 25-34 = $758, which is annual wage of $39,416.
Age 25-34 unemployment rate = 4.8%
Hardly the lost generation picture you're trying to paint.
I hate when people use misleading useless statistics like this. If we take away all other variables and the percentage of young adults living at home stayed constant, you'd still be able to repeat this alarming statistic every year since the population of the United States grows. Same with other stats, OH MY GOSH there are more homeless people in a country of 320 million people than when the country had only 300 million people. It must indicate a trend of a failing economy, the US is just like Rome a collapsing empire.
No it doesn't. You're taking a ridiculous leap of (poor) logic in assuming that a young adult who lives at home will forever remain a financial/career/social failure. Sometimes people face a setback and need to reboot and get their feet under them, it doesn't mean they are all destined to become some middle aged minimum wage burger flipper loser.
It also doesn't reflect a "lost generation" unless you can demonstrate it represents the majority of that generation. Median weekly earnings here: https://www.bls.gov/news.release/wkyeng.t03.htm
Age 25-34 = $758, which is annual wage of $39,416.
Age 25-34 unemployment rate = 4.8%
Hardly the lost generation picture you're trying to paint.
It will be interesting to see how many of these people eventually buy homes.
This thread is over a year old. The topic is supposed to be about how good the economy is now/was when the thread started. So, discuss what was and what is - please don't use this thread to speculate about the future.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
