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Ah shit folks. Some devious trickster hoodwinked the good Democrats into believing the economy was doing well when, in fact, it was doing shit. (archive.is)

submitted 1 day ago* (last edited 1 day ago) by [email protected] to c/[email protected]

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Original URL where the cowards have changed the title now: https://www.politico.com/news/magazine/2025/02/11/democrats-tricked-strong-economy-00203464

I don’t believe those who went into this past election taking pride in the unemployment numbers understood that the near-record low unemployment figures — the figure was a mere 4.2 percent in November — counted homeless people doing occasional work as “employed.” But the implications are powerful. If you filter the statistic to include as unemployed people who can’t find anything but part-time work or who make a poverty wage (roughly $25,000), the percentage is actually 23.7 percent. In other words, nearly one of every four workers is functionally unemployed in America today — hardly something to celebrate.

Any fucking questions

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[–] [email protected] 15 points 13 hours ago (1 children)

Unemployment is sucha bullshit thing to measure tbh. I work in the unemployment sector and 95% of people I see are on and off the job again, working shit jobs for low wages for two weeks, getting benefits for the other two weeks of the months. They live in poverty.

They are not included in the long time unemployment category though. But there is nothing great about their situation.

[–] [email protected] 6 points 10 hours ago

Yeah, figuring out the actual unemployment in capitalism is a fucking joke.

I think measuring the unemployment in a socialist country is typically way more accurate, and China's unemployment rate is relatively low at roughly 4-5 percent.