Economy Biden Boom continues - at this rate we'll have no unemployment by end of his term

skysolo said:
Yep, the Biden boom. Across the street from me, 5 spots available at both the Dollar Tree and Dollar General. Another 2 spots available at Dairy Queen. Popeyes has a hiring sign.

Go work full time and still need to receive food stamps. The Biden/Obama legacy.
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How is that a political issue? Isn't the problem low wages from the business owners? Those owners could pay more and make the problem go away.
 
eighterumg5 said:
How is that a political issue? Isn't the problem low wages from the business owners? Those owners could pay more and make the problem go away.
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It was more commentary on a large percentage of those "new jobs" created. Also, Biden didn't fight for a minimum wage increase. He has been president or VP going on 10 years and hasn't increased minimum wage one time.
 
Patrick Jane said:
it-figures-it-would-be-something-like-this.jpg
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I don't miss this guy
 
Yippee! 70% of the population underemployed making $15 an hour.

Underemployment is the issue - not unemployment. Wages are stagnant while the price of everything skyrockets.
 
genecop said:
If Trump was in office, we wouldn’t be in this mess….
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Trump caused this mess. First handing out Trump Bucks to everyone, then increasing spending, while decreasing revenue. He ran the economy like one of his casino's and the money printing press played the role of Fred Trump, so Donny kept printing money to cover his failures, instead of Daddy losing millions in his casino's on purpose.
I never understand why you Trump Bots simp so hard for mediocrity.
Trump was a mediocre President.
Hopefully in 2024 its not Trump vs Biden, because that will be 3 straight Presidential elections with 2 shitty choices.
 
jeremyemilio said:
It's not meaningless. It's just nuanced. Labour force participation has shrunk dramatically since the early 2000s. Pre 1970 the peacetime labour force was pretty steady below 60%. Then with more and more women entering the workforce, it rose through the 70s, 80s, and 90s and looked destined to rise about 70% sometimes in the early 2000s. But it dropped a few points after 9/11, dropped a few more after the 2007 crash, and trended sharply downawrd through to the 2016 election after which it began trending upward again until it dropped off the table with covid. Since Biden took office, it's been trending sharply upward again, but still hasn't reached pre-covid levels.

Unemployment numbers attempt to measure something a little different, in trying to get at the questions of how many people want work but can't find it. Leaving aside the fact that it's a little tricky, especially in changing economic environments, to determine just who qualifies as being part of this category, it's not even particularly clear whether it should be read as a positive or a negative when the percentage of total people in the workforce or wanting to be in the workforce goes up or down.

For instance, it could be argued that women started entering the workforce in larger numbers in the 70s because they could, and wanted to, driving up labour force participation, and then somewhere in the 80s and 90s more and more two income households emerged because one result of more people in the workforce was stagnating wages and so people felt that it was the only way they could survive was to have to incomes contributing to the family, and then at some point in the 2000s with ever increasing productivity and an increasingly unstable world, people began to prioritize differently and decided to pull back from workforce participation and revert to the pre-70s mean a little but in a less gendered way, with a more even split between men and women living as economic dependents, but maintaining valuable roles within their social or family context.

That's just one possible narrative, and in this reading the large economic disruptions fill more the role of paradigm shifting catalysts than a string of destructive economic cataclysms that the labour force just can't recover from.

There's probably a little of both. But unemployment numbers don't tell the whole story, and neither do labour force participation numbers. Neither are either meaningless. It's a very nuance conversation.

Source
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It's better to look at prime-age LFP, as the total is thrown a bit by the aging of the population. And actually the prime-age figure also is, as it's affected by a change in the composition (that is, the distribution within "25-54-year-olds" has changed).

steveflynn said:
I completely agree that it's very nuanced, however, I am definitely not trying to be nuanced in some of the responses in this thread because people around here do not care at all about nuance.
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Yeah, we're not even at the point in the discussion where that comes in. You have people who seem to really believe that the economy is stagnant! We had the strongest growth in almost half a century in the last year. People here get *mad* when you point out that objective fact. And there's no arguments or explanations given for how the numbers could be wrong. It's just "the other party has the WH, therefore the economy is bad and fuck anyone who tries to tell me otherwise. Here's a gif of someone laughing."
 
steveflynn said:
Not really. The unemployment rate is now what it was before the pandemic and there is a record low number of individuals seeking unemployment insurance on a weekly basis. I have absolutely no idea how this is meaningless.
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Its meaningless to him because he's a Canuck who doesn't care about actual policy-making in the US but rather culture war garbage and partisan shitflinging.
 
SammyPops said:
so what do they call an economic situation when we have full employement, stagnating growth, and huge inflation?
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Failure. In QueenB’s case he never had anything except his troll routine anyway so nothing has been lost there.
 
We’re pretty much at full employment now, hiring above the entry level is a real challenge. Nobody with any talent or experience is out of work due to the economy right now.
 
Contempt said:
Gradually... not while Democrats are attempting to push through multiple trillion dollar packages.

...and certainly not any time soon.
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I never said that inflation was going to suddenly, dramatically decrease. Most big banks see inflation beginning to go down end of this year/early next year, however a lot of when inflation will begin to ease has to do with when and to what extend the Federal Reserve begins raising interest rates.
 
fedoriswar37 said:
Yup. Thats how it works. Are you new? Would Trump have done a better job with Afghanistan, covid, Ukraine, etc etc. Who knows. But guess what, Bidens president and he owns all of these clusterfucks and they will be his legacy
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How the hell is Ukraine Biden's fault? If anything, this would be one of the most redeeming things about him (not getting involved).
 
steveflynn said:
How the hell is Ukraine Biden's fault? If anything, this would be one of the most redeeming things about him (not getting involved).
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And coordinating an effective response from the developed world without getting militarily involved.
 
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