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Thought Exercise - real unemployment

Discussion in 'Tilted Philosophy, Politics, and Economics' started by genuinemommy, Feb 18, 2021.

  1. genuinemommy

    genuinemommy Moderator Staff Member Donor

    How many people are really out of work right now in the USA? Not just looking for work, but not employed?
    How many people apply to any given open position?
    How many people with skills that are in high demand are even interviewed?
    How many of these are women?

    Really, how many highly skilled women do you see taking positions of power? Does being a woman have anything to do with unemployment? Because I feel like it does.

    How does the current unemployment impact politics?

    I am really amazed at how many applications are being submitted for a position that I'm fielding applications for - a position that doesn't even really have funding yet and that may never be funded. And I wonder how many of these people will not get chosen for anything and will still be out of work this summer. I am left wondering how many job listings are like this - there isn't really a job there yet but there might be and we won't know until the last second so therefore it's listed.

    And these applications aren't easy. What a waste of everyone's time.

    Share thoughts on the topic. Experiences, news articles, what-not.
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  2. Chris Noyb

    Chris Noyb Get in, buckle up, hang on, & don't criticize. Donor

    Large City, TX
    For the time being
    I can only add this. Statistics clearly show women are lagging behind in reemployment. The US hasn't seen unemployment for women this low since the 1980s. The women are staying home dealing with children, schooling, and COVID-19.

    I don't know what the drop is from 2019 and 2020.

    There are numerous articles on the net.
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  3. genuinemommy

    genuinemommy Moderator Staff Member Donor

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  4. rogue49

    rogue49 Tech Kung Fu Artist Staff Member Donor

    There's a huge adjustment and change happening due to the pandemic.
    Some jobs won't come back...some will be automated, some will change to remote, etc.
    Many will have to retrain, reskill, reorient...build a rep in a different role.

    Millions of jobs probably aren’t coming back, even after the pandemic ends

    But this is pessimistic...People will find jobs
    It will be just like after a recession...an employers' market, lots of competition

    I think the key here is those that hustle hard.
    And be VERY flexible.

    The pandemic hurt many roles filled often by predominately women.
    Unfortunately, due to poor bias...they're often first to let go, not to keep, last or slow to hire.

    The roles that increased were in IT
    Computers jumped as everyone went remote, on the internet and a need for automation instead of humans.

    Any job that is around a volume of people will be hit. (restaurants, events, factories, etc)
    Any job that can be done remote, isolation or in controlled/spaced areas will increase.

    A person can't say...I don't know that, I can't do this, I haven't done it.
    They have to keep diving in...and say, I CAN do that. Think outside the box.
    They have to be aggressive and put it out everywhere.

    And it doesn't matter what gender...it's a do or die attitude.
    Gotta be bold. Can't be passive.

    Do NOT put your eggs in one basket
    Spitball...try your best, move on
    Be ready for any role. Even in a new industry or vertical
    Realize that most descriptions are wishlists

    Be aware...MANY companies and employers are having to change ALSO
    It's not just workers.
    Businesses are in a try or die mode too.

    Again, flexibility and hustling are the keys.
    Last edited: Feb 20, 2021
  5. redux

    redux Very Tilted Donor

    Foggy Bottom
    The "real" unemployment rate is much higher than the "official" unemployment rate used by the Dept of Labor/Bureau of Labor Statistics (BLS) and the measure needs a significant overhaul.

    BLS currently has six measure of the current unemployment rate: the "official" measure (U-3) and five alternative measures.

    U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
    U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
    U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);
    U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
    U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers; and
    U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.

    Table A-15. Alternative measures of labor underutilization

    The U-3 unemployment rate is generally the only rate the public hears about or sees in government news releases and media reports.

    From the above link, the "official U-3 unemployment rate last month was 6.3%; the real rate is probably somewhere between the U-5 rate (7.4%) and closer to the U-6 rate (11.1%). At the worst of the pandemic, the U-6 rate was at 23% or nearly 1 out of 4 workers in the US were unemployed.
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