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Old 06-09-2020, 12:56 AM
 
Location: Oregon, formerly Texas
6,383 posts, read 4,326,658 times
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Stock markets are near or at all-time highs despite labor force participation rate at an 50 year low and unemployment at a 70 year high.

So my question is, is it necessary at all to re-employ the 35 million unemployed? It does not seem like their jobs matter and we can do fine without them.
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Old 06-09-2020, 01:37 AM
 
80,167 posts, read 78,518,791 times
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Quote:
Originally Posted by redguard57 View Post
Stock markets are near or at all-time highs despite labor force participation rate at an 50 year low and unemployment at a 70 year high.

So my question is, is it necessary at all to re-employ the 35 million unemployed? It does not seem like their jobs matter and we can do fine without them.
there is more than a trillion dollars in income generated in our under ground economy ...people not showing working on the books tend to have other sources off the grid .

people find a way to do what they have to do
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Old 06-09-2020, 08:12 AM
 
Location: Wartrace,TN
6,200 posts, read 9,702,447 times
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Quote:
Originally Posted by redguard57 View Post
Stock markets are near or at all-time highs despite labor force participation rate at an 50 year low and unemployment at a 70 year high.

So my question is, is it necessary at all to re-employ the 35 million unemployed? It does not seem like their jobs matter and we can do fine without them.
The stock market is not a measure of economic activity. It's amazing what adding 3 trillion dollars to government spending and another 4 trillion dollars to the fed's balance sheet can do to the stock market. Wait until the second quarter GDP numbers are released and THEN ask if we need full employment.

A second question you have to ask is what to do with all the idle people. They won't be able to feed themselves without some sort of employment.
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Old 06-09-2020, 08:58 AM
 
Location: Boston
12,976 posts, read 3,737,209 times
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a lot more companies have come to realize the benefits of having employees working from home. Not much downside to it. Saves people, environment, commute times, and companies big time. We'll come to recognize this pandemic as a tremendous asset to our economy and way of life.
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Old 06-09-2020, 09:12 AM
 
Location: Heart of flyover America
643 posts, read 255,042 times
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Who needs a real economy when the Federal Reserve can just inflate a fake one?
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Old 06-09-2020, 09:31 AM
 
1,963 posts, read 503,478 times
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Quote:
Originally Posted by redguard57 View Post
Stock markets are near or at all-time highs despite labor force participation rate at an 50 year low and unemployment at a 70 year high.

So my question is, is it necessary at all to re-employ the 35 million unemployed? It does not seem like their jobs matter and we can do fine without them.
Necessary for whom? Stockholders? I guess not.

But you know full well The Market =/= The Economy.
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Old 06-09-2020, 09:52 AM
 
2,600 posts, read 990,345 times
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Quote:
Originally Posted by mathjak107 View Post
there is more than a trillion dollars in income generated in our under ground economy ...people not showing working on the books tend to have other sources off the grid .

people find a way to do what they have to do
I’d be willing to bet the underground economy is even larger than that. We lived in a small town in western Colorado for 15 years, and after a while came to realize that its economy only made sense if the illegal drug trade was factored in. If that phenomena is widespread in small communities, then a big portion of the U.S. economy is off the books — almost a mirror image of the influence peddling and corruption found in large cities.
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Old 06-09-2020, 10:07 AM
 
1,956 posts, read 1,070,006 times
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Many companies are realizing they can "make do" with fewer employees and will not go back to full staff. This is not a new concept, but is frequently seen after hiring freezes, when places realize they were able to meet their goals despite not going back to full staff (many of us have experienced this first hand in both the public and private sectors).

This is why many jobs won't return. Contrary to what many in the GOP believe, UE is not high because people are sitting home collecting PUE. Yes, there are folks that are receiving more in PUE, but this cannot account for the entire UE number.
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Old 06-09-2020, 10:23 AM
 
1,963 posts, read 503,478 times
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Quote:
Originally Posted by Eeko156 View Post
Many companies are realizing they can "make do" with fewer employees and will not go back to full staff.
And companies that were already considering a higher degree of automation will likely move forward with those plans, committing to fewer employees (and likely yet fewer over time) instead of just "making do" for some indeterminate period without the prior staff levels.
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Old 06-09-2020, 11:11 AM
 
Location: Dude...., I'm right here
1,355 posts, read 864,304 times
Reputation: 910
The fed has failed in its mandate. It was never meant to prop the stock market.

Quote:
Originally Posted by redguard57 View Post
Stock markets are near or at all-time highs despite labor force participation rate at an 50 year low and unemployment at a 70 year high.

So my question is, is it necessary at all to re-employ the 35 million unemployed? It does not seem like their jobs matter and we can do fine without them.
Reply With Quote Quick reply to this message
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