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Old 06-12-2020, 05:31 AM
 
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While truly full employment is probably not possible, we were getting close to it in January. People want to work, and we have no alternative to that so far. They get very upset when their livelihood is taken away. Remember, the Nazis marched into power when about half of Germany's tradesmen were out of work.
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Old 06-12-2020, 12:01 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
25,220 posts, read 43,010,343 times
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Quote:
Originally Posted by pvande55 View Post
While truly full employment is probably not possible, we were getting close to it in January. People want to work, and we have no alternative to that so far. They get very upset when their livelihood is taken away. Remember, the Nazis marched into power when about half of Germany's tradesmen were out of work.
Precisely... Italy and Spain fell into such economic issues as well. Watching videos of their dictators taking over is haunting. A lot of Puffery, yet the masses were estatic. Scary things happen, history happens. (Repeats itself)
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Old 06-12-2020, 12:18 PM
 
2,011 posts, read 510,658 times
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Quote:
Originally Posted by pvande55 View Post
While truly full employment is probably not possible, we were getting close to it in January. People want to work, and we have no alternative to that so far. They get very upset when their livelihood is taken away. Remember, the Nazis marched into power when about half of Germany's tradesmen were out of work.
That was over nearly a decade of extreme depression and national poverty, though.

We're...still just over three months in and somewhere between stabilized and recovering.

(Economically, anyway. I fear the next six months politically more than just about any time in my life.)
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Old 06-12-2020, 04:26 PM
 
Location: Oregon, formerly Texas
6,384 posts, read 4,328,694 times
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Originally Posted by Therblig View Post
That was over nearly a decade of extreme depression and national poverty, though.

We're...still just over three months in and somewhere between stabilized and recovering.

(Economically, anyway. I fear the next six months politically more than just about any time in my life.)
I'm not so sure we're "stabilized," much less "recovering."

The Labor Department has straight up said that the May report was wrong... or rather, it was GIGO - that they had the worst response to their surveys in decades and thus couldn't come up with a reliable number & had to report what their limited data told them.

Coronavirus is doing a not-so-slow burn in half the states, which the experts tell us will mean a double-whammy hit during flu season...which is exactly how the Spanish Flu proceeded.

Historically, unemployment rates as high as 20% took 7 years to recover from.
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Old 06-12-2020, 04:41 PM
 
2,011 posts, read 510,658 times
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Originally Posted by redguard57 View Post
I'm not so sure we're "stabilized," much less "recovering."
We don't seem to be in free-fall any more, economically and employment-ally. Maybe still uncertain virus-ally, and definitely disintegrating socially.

Better?
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Old 06-12-2020, 05:02 PM
 
Location: Oregon, formerly Texas
6,384 posts, read 4,328,694 times
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Originally Posted by Therblig View Post
We don't seem to be in free-fall any more, economically and employment-ally. Maybe still uncertain virus-ally, and definitely disintegrating socially.

Better?
I suppose that society is not collapsing completely.

But I think we have MUCH recovery to do before things return to "normal." Corona fallout has hit the working classes. If it's contained to them, then maybe we recover quickly. But I think it's only a matter of time before we start to see layoffs in some of these work from home positions among the professional class. THAT will start tanking housing values, and then we have a recession within a recession.

On the political front - Trump's numbers are starting to look a lot like Jimmy Carter's or George H.W. Bush's.
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Old 06-12-2020, 05:21 PM
 
Location: Boston
12,976 posts, read 3,740,375 times
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everybody I know who has job skills is doing fine. If you were in a dead end job requiring minimal skills you were living on the edge before the virus. They'll be the last ones going back to work because hiring them back is really not necessary. Leave your kids a nice stash so they'll be ahead of those that don't, the cycle of life continues.
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Old 06-12-2020, 05:39 PM
 
Location: Huntsville Area
1,173 posts, read 277,127 times
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There's no such thing as full employment.

A 3% unemployment would be essentially full employment, as 3% won't work no matter what job is lined up for them.

My county pre pandemic had a 2.3% unemployment. We have no idea where Mazda-Toyota is going to find 12,000 job seekers to go thru their training program only to hire 4,000 great assembly workers and robot mechanics.
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Old 06-14-2020, 12:22 PM
 
1,962 posts, read 1,071,441 times
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Originally Posted by skeddy View Post
everybody I know who has job skills is doing fine. If you were in a dead end job requiring minimal skills you were living on the edge before the virus. They'll be the last ones going back to work because hiring them back is really not necessary. Leave your kids a nice stash so they'll be ahead of those that don't, the cycle of life continues.
This^^^^^^^

It has always been this way and will remain so. The lower income, unskilled labor force will always be hurt the most.

It is a myth that "hard work" will ensure your financial survival. Many of these people work two or three jobs, and many hours per day. But they are working unskilled jobs, or jobs that are fairly easy to fill - in other words, very dispensable jobs.
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Old Yesterday, 10:18 AM
 
14 posts, read 676 times
Reputation: 20
The benefits to the current administration and local authorities regarding full employment are obvious and that’s the reason it’s so important. Tax revenue and chest pounding statistics.
I don’t want full employment simply because not everyone is going to be enthusiastic about their jobs. There is a reason Amazon and delivery type businesses are flourishing. It’s painful drive to a store and get zero help from their “trained” staff. If I can do my own research and circumvent this experience with humans I will.
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