A reminder, Yellen thinks unemployment is good to discipline uppity workers. In her view, we need to sacrifice about another 2.2 million people, families, futures to make sure everyone else who works for a living stays submissive and unemployment climbs to 5%. Provided for context because her “good” is probably the opposite of your “good.”
Well yeah, in the powers-that-be’s view, that 5% mark is where most are working to keep spending money and fueling the economy, but enough people are unemployed that keeps wages within employers’ control as they have a pool of labor to draw on to replace uppity employees.
According to this, the total number of people in the US labor force was 168,130,000 people, and 5% of that is 8,406,500 (remember that the workforce number includes people who are working or actively seeking work; it does not include those who are too young, have retired, or have given up looking for work). That’s almost 8.5 million people looking for work, and to the fed and economists, that’s an acceptable number of people struggling to keep the economy stable.
A reminder, Yellen thinks unemployment is good to discipline uppity workers. In her view, we need to sacrifice about another 2.2 million people, families, futures to make sure everyone else who works for a living stays submissive and unemployment climbs to 5%. Provided for context because her “good” is probably the opposite of your “good.”
Well yeah, in the powers-that-be’s view, that 5% mark is where most are working to keep spending money and fueling the economy, but enough people are unemployed that keeps wages within employers’ control as they have a pool of labor to draw on to replace uppity employees.
According to this, the total number of people in the US labor force was 168,130,000 people, and 5% of that is 8,406,500 (remember that the workforce number includes people who are working or actively seeking work; it does not include those who are too young, have retired, or have given up looking for work). That’s almost 8.5 million people looking for work, and to the fed and economists, that’s an acceptable number of people struggling to keep the economy stable.
Thanks for this 🙏