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I can go on a record here and tell you that real economic growth is imposible to achieve until interest rates are raised, we go thru Deflation Cycle and all bad debt has been destroyed.
There are better ways to destroy debt. Print money and distribute it. Reduce the US$ exchange rate, close the trade gap, get a little inflation. All good.
How much job growth can there be? Unemployment is about 5%. Unemployment for college level jobs has been 3% for a long time. There are not that many people left to hire and even less if we look at those jobs requiring college of other skilled workers.
Alot of college educated people have taken part time, minimum wage jobs or stopped looking for work, artificially lowering the unemployment rate. The goverment stops counting you as unemployed if you have been unemployed for longer than 1 year.
Alot of college educated people have taken part time, minimum wage jobs or stopped looking for work, artificially lowering the unemployment rate. The goverment stops counting you as unemployed if you have been unemployed for longer than 1 year.
No it doesn't. The BLS even has a special category titled "long-term unemployed".
Alot of college educated people have taken part time, minimum wage jobs or stopped looking for work, artificially lowering the unemployment rate. The goverment stops counting you as unemployed if you have been unemployed for longer than 1 year.
Now that the unemployment rate is really low, it would be a great time for people to look at upgrading. Anyone who gave up looking a few years ago, might want to give it another try. It is pretty hard to call someone unemployed if they are working or not looking for work.
Is he looking for work? If he is then he would be included.
Only engineering job. He has one interview at a crapppy tech company before the Great Recession. After that nothing. He failed to get to my employer.
My thinking he is in the category that is not counted by U-3. He is too discouraged.
Now that the unemployment rate is really low, it would be a great time for people to look at upgrading. Anyone who gave up looking a few years ago, might want to give it another try. It is pretty hard to call someone unemployed if they are working or not looking for work.
The problem is many places still ask for the whole 2 years (relevant) experience and a (relevant) BA. Unless the college grad does what I did and get a job and look to advance within, it isn't going to be easy to do that as an outsider, especially with fresh college grads fighting too.
There are better ways to destroy debt. Print money and distribute it. Reduce the US$ exchange rate, close the trade gap, get a little inflation. All good.
So you prefer to cheat on creditors and pay them back in devaluated currency? We need to stop coming up with all this nonsense and get real, face the truth, face the reality. I think many people's economic sensibilities are disoriented by the Fed's absurd zirp, QE games that have turned the US economy into a zombie with big banks dependent on the drug called artificial liquidity. The simple fact is we must deal with economic cycles and stop playing let's follow Alice down the hole to Wonderland. As Japan has proved, it's far from wonderful. There is less and less growth, people get poorer and poorer, the government goes bankrupt making money to operate, and inevitably something worse happens.
The only real benefit with money printing is that banks slowly end up owning more of the country, the Fed gets more powers that belong to the government (and thus the people), big banks make huge spreads on borrowing money at nothing or next to nothing, and those banks get to gamble and not worry because taxpayers are the ones who will pay the price if they can make their losses big enough to get a bailout every time (they have to pay for small losses thus they prefer catastrophic events the Fed is currently making). The sad fact is many big banks forgot how to do banking and would die if they couldn't get zirp or near zirp borrowings and loan out to the public at absurd rate differentials. They need to be dismantled or die like the dinosaurs.
There is a clear reason why our country is not doing well and it's not capitalism. It's quite the reverse, a planned economy leading to misallocation of assets by the Fed.
Only engineering job. He has one interview at a crapppy tech company before the Great Recession. After that nothing. He failed to get to my employer.
My thinking he is in the category that is not counted by U-3. He is too discouraged.
It is very rare to see a job-seeking engineer unemployed for that long. I come from a family of engineers, my uncle always said that a good engineer never has to worry about starving. Heck, my civil engineer cousin bum around for ten years after graduating and quickly found a job once he made up his mind to be an engineer.
There is definitely a reason here why your friend has this much trouble.
The problem is many places still ask for the whole 2 years (relevant) experience and a (relevant) BA. Unless the college grad does what I did and get a job and look to advance within, it isn't going to be easy to do that as an outsider, especially with fresh college grads fighting too.
3% unemployment for college level jobs means the employers are fighting to find decent employees. They are scraping the bottom 3% of those with the worst qualifications or other issues such as drug abuse. If you personally are having problems, it could be you are in the wrong place looking for the wrong type of a job. On another thread, I even read a complaint that there were no jobs in nursing anymore. In my area the hospital system put out a notice to all of the facilities to hire any qualified nurses who applied regardless of any specific openings. Staffing would be adjusted but the system could not afford to miss an opportunity to hire.
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