US News

2108 readers

112 users here now

News from within the empire - From a leftist perspective

founded 5 years ago

MODERATORS

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]

17 comments fedilink hide all child comments

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

you are viewing a single comment's thread
view the rest of the comments

[–] [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.