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Unemployment rate falls below 4%

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    Poor people usually don't vote, thus they don't matter, is what Republicans will tell you. Are they wrong ?
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    Poor people are probably too busy trying to scratch out a living, no time for voting. Even when I was poor, poorer than I am now, I managed to take an hour out of voting day to cast my vote. Two presidents that I voted for in the past won, Bill Clinton and Barack Obama, so it was satisfying to know my vote counted. These days, I'm not so sure. I do know this economy, right now, sucks.
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    Last Thursday, Forbes published an article explaining why our current unemployment rate of 3.5% is bullshit. The answer can be found in what they called the U.S. Private Sector Job Quality Index. The article is worth reading in its entirely, but the short version is that we have lots of jobs , but they are increasingly low quality jobs.

    https://www.forbes.com/sites/stevedenning/2019/12/05/understanding-the-us-economy-lots-of-rotten-jobs/?fbclid=IwAR3Uf934TvKZ8h2he4303kJ-DXvXQhgmPzj9S1UJYojg75Wyl2h6XrwZotU#7523d1592d97

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    I typed what is the real unemployment rate using Bing search, results stated the real UE rate is 7.2 %.

    bing.com/search?q=the+real+unemployment...

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    Thanks, Dock.

    A lot of baby boomers will understand the "underemplyed" term, and I can personally attest to that one.

    In 1998, I was an insurance underwriter making more than $60,000 a year, and then my department was closed down nationwide. After six months of trying, I discovered that there were no longer any similar jobs available for a guy in his early 50's.

    My best option was to become a COMMISSIONED life insurance salesman. I stuck with it for a little more than 4 years before concluding that it made more sense to move to China and teach English. My best year earned me slightly more than $40,000, a BIG drop from $62,000.

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    that guy in AZ Wrote:

    Last Thursday, Forbes published an article explaining why our current unemployment rate of 3.5% is bullshit. The answer can be found in what they called the U.S. Private Sector Job Quality Index. The article is worth reading in its entirely, but the short version is that we have lots of jobs , but they are increasingly low quality jobs.

    https://www.forbes.com/sites/stevedenning/2019/12/05/understanding-the-us-economy-lots-of-rotten-jobs/?fbclid=IwAR3Uf934TvKZ8h2he4303kJ-DXvXQhgmPzj9S1UJYojg75Wyl2h6XrwZotU#7523d1592d97

    The way to improve the Job Quality Index is to INVEST money in education - but the Republican Party does not understand that. The article below explains why cutting taxes is NOT the answer to economic growth:

    https://tohell-andback.blogspot.com/2019/01/its-really-just-simple-math.html

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    that guy in AZ Wrote:

    Thanks, Dock.

    A lot of baby boomers will understand the "underemplyed" term, and I can personally attest to that one.

    In 1998, I was an insurance underwriter making more than $60,000 a year, and then my department was closed down nationwide. After six months of trying, I discovered that there were no longer any similar jobs available for a guy in his early 50's.

    My best option was to become a COMMISSIONED life insurance salesman. I stuck with it for a little more than 4 years before concluding that it made more sense to move to China and teach English. My best year earned me slightly more than $40,000, a BIG drop from $62,000.

    That's a lot of greenbacks to lose out on.

    I was in a similar situation when doing my own owner/operator cargo expediting. Lost a lot of money due to slowdown in production and transporting businesses, I know of quite a few machine shops that shuttered because of Chinese imported rough castings and machine worked parts. For one, Harley Davidson was once 100% American parts, now it's like 35% outsourced. I used to pick up rough castings for Harley, and other casting factories, and truck them to Michigan machine shops, that went the way of the wind in the 2000's.

    I don't know why MSM keeps telling America that the UE rate is so low, why don't they tell the truth?

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    TJ Wrote: Poor people usually don't vote, thus they don't matter, is what Republicans will tell you. Are they wrong ?

    Partly. You must have an ID to register to vote, and in my neck of the woods, the place to obtain a voter ID card is out of the city center, making it more difficult for people who don't have wheels or a way to get there harder. Add to the fact that gerrymandering of redistricting areas didn't help matters either. Poor people don't think it's worth the trouble or the hassle to obtain their ID cards.

    If you click on this link, it'll take you to a map. Once the map loads, use the zoom out feature and you can see that my (local?) DMV is out in the country, far away from the center of the city.

    bing.com/maps?q=4911+88th+ave+kenosha+w...

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    From the food stamps thread:

    The dazzling US unemployment rate is blinding Americans to a much darker reality

    real unemployment from qz.com

    Jun 7, 2018 · Our real unemployment is anywhere from 18 to 20%. ... The official labor force is made up of two types of people—those with jobs, obviously, but also the “unemployed,” defined as those ready to work w

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    that guy in AZ Wrote:
    that guy in AZ Wrote:

    Last Thursday, Forbes published an article explaining why our current unemployment rate of 3.5% is bullshit. The answer can be found in what they called the U.S. Private Sector Job Quality Index. The article is worth reading in its entirely, but the short version is that we have lots of jobs , but they are increasingly low quality jobs.

    https://www.forbes.com/sites/stevedenning/2019/12/05/understanding-the-us-economy-lots-of-rotten-jobs/?fbclid=IwAR3Uf934TvKZ8h2he4303kJ-DXvXQhgmPzj9S1UJYojg75Wyl2h6XrwZotU#7523d1592d97

    The way to improve the Job Quality Index is to INVEST money in education - but the Republican Party does not understand that. The article below explains why cutting taxes is NOT the answer to economic growth:

    https://tohell-andback.blogspot.com/2019/01/its-really-just-simple-math.html

    Arizona -- Thanks for sharing the Forbes article on the Job Quality Index. It certainly is intuitive that the quality of jobs, many of them in manufacturing, have been replaced by lower paying service jobs. We can understand the reasons for slow wage growth as explained in the article. I agree. However, it is more difficult to foresee what we can actually realistically do to reverse the trends. On that point I was struck by the second article linked at the bottom of your article.

    Steve Denning, Forbes, December 5, 2016: Why Does The U.S. Lose More Manufacturing Jobs Than Germany?

    Denning wrote his article shortly after Trump was elected in 2016, but his perspective has proven to be correct in my opinion. As Denning points out, German firms, many of them privately owned, "rarely emulated U.S. firms in the pursuit of “maximizing shareholder value as reflected in the current stock price”—an idea that even Jack Welch has called “the dumbest idea in the world.” Private owners of firms can see that a sharp focus on short-term profits hinders the creation of long-term wealth. They have no interest in financial engineering gadgets, like share buybacks, to make the firm’s shares appear to be doing better than they really are."

    Moreover, Germany significantly boosted efforts to create a context for innovation throughout the 2000s, steadily bolstering the competitiveness of their manufacturing sector. “Germany set about enacting a range of comprehensive economic reforms to increase the competitiveness of Germany’s economy throughout the 2000s, including making its tax code more competitive, increasing investment in apprenticeship programs, increasing investment in industrially relevant applied R&D, and during the Great Recession introducing the short-time work program rather than firing workers outright as often happened in the US..."

    Denning noted that Germany wasn't alone that other countries including Japan, Korea, Holland, Taiwan, and China "worked feverishly throughout the 2000s to bolster their science, technology, and innovation ecosystems that underpin the competitiveness and innovation potential of their private sector enterprises.”

    With our political environment and a "Trumpism mentality" of casting blame on each other (divide and conquer) I cannot see America unifying and mobilizing as a country to embark on a German kind of experience. Even if Trump is not re-elected, the harm that he has done will be hard to reverse. However, many of the problems that we have predate Trump, and part of it is our "American exceptionalism" attitude and cognitive dissonance that we cannot accept that we are the victim of ourselves...that we cannot look in the mirror and see the problem facing us. From our faith in "God to fix everything with prayer" to our hyper-patriotism, to our fearful mentality and love of guns, our reverence for the military, to our failures in education, to our apathy about our democracy, to our corporate malfeasance, we have reverted to a "la la land" tribal mentality where critical thinking is replaced by conspiracy theories, demagoguery, and hatred towards each other.

    I blame Trump, but our current assemblage of Republican legislators, enablers and sycophants as well as the mindless Trump supporters and voters at his endless rallies, have all succumbed to Trumpism...which is not all that far from Putinsm.

    "We have met the enemy and he is us." -- Pogo.

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    Schmidt, an excellent piece; you say it as it is. Indeed I fear due to Trumpism that this country will slide even more down the drain. The present economy won't last either for much longer, especially looking at the China factor and global warming. And don't forget the Brexit disaster. Politics and stupidity will ruin this country since if staying on the present track other countries will look for other partners than the US. The "impeachment" will have its effects, especially if Trump stays.

    Comparison to the Titanic are justified by now; this country is the iceberg which is melting.

    Your thread is absolute perfect and should be read by everyone on the planet!!!!!!!