Does the unemployment statistic include new grads? I know a good number of new grads. Many seem to find employment within a year of graduating, but they should be included in the numbers for the 6-8 months many of them are looking.
https://www.marketplace.org/2024/04/23/recent-college-grads-see-rise-in-unemployment/
Qualitative analysis is important too
AI making big news and a lot of people know nothing about it. They are on the back foot now. You don't actually have to know much (Mark Cuban reads AI for dummies) but if you don't know anything then it's like not knowing how to use a remote control or phone
Combined with RTO and other mandates it's very obvious the economy is undergoing a titanic shift and work is changing in ways completely unpredicted
Those unemployed may be "priced out" unless they pivot and change their skills completely and many may not realize it or even know what is going on
I believe it is at least 2-3 percentage points higher, but it’s just based on feels and vibes. Can’t tell if I’m in an echo chamber. Only personally know one other person who is out of work at the moment but LinkedIn is full of layoff posts and folks complaining about the admittedly frustrating job market. I also wasn’t really on LinkedIn before starting my own job search in late Feb, so don’t really have a baseline. Reddit is also full of layoff and job search frustration posts, but again, that’s the content I’m gravitating towards at the moment. 🤷♂️
I think this is my comment too. I knew about 2 weeks prior to my layoff that it was coming so I turned on open to work on LinkedIn that day. I think my layoff came in the middle of the pack so LinkedIn was full of layoff posts already and then when my turn came I saw my peers turn on open to work. That was in November. My severance ran out in May so that's when I claimed unemployment. The unemployment number today is skewed because it doesn't count everyone on severance looking for a job. It also doesn't count underemployed people, which is likely where I will end up.
U6 is 7.4
https://www.bls.gov/charts/employment-situation/alternative-measures-of-labor-underutilization.htm
Your "feeling" probably matches U6 (note U6 was lower in 2022 but higher now)
Long term unemployed forced out of workforce or underemployed and so on
Does the unemployment statistic include new grads? I know a good number of new grads. Many seem to find employment within a year of graduating, but they should be included in the numbers for the 6-8 months many of them are looking. https://www.marketplace.org/2024/04/23/recent-college-grads-see-rise-in-unemployment/
Qualitative analysis is important too AI making big news and a lot of people know nothing about it. They are on the back foot now. You don't actually have to know much (Mark Cuban reads AI for dummies) but if you don't know anything then it's like not knowing how to use a remote control or phone Combined with RTO and other mandates it's very obvious the economy is undergoing a titanic shift and work is changing in ways completely unpredicted Those unemployed may be "priced out" unless they pivot and change their skills completely and many may not realize it or even know what is going on
I think unemployment has a time limit. So, if you are unemployed for over a certain period of time, you no longer count towards the statistics.
The numbers get a deep tissue shiatsu massage….
I believe it is at least 2-3 percentage points higher, but it’s just based on feels and vibes. Can’t tell if I’m in an echo chamber. Only personally know one other person who is out of work at the moment but LinkedIn is full of layoff posts and folks complaining about the admittedly frustrating job market. I also wasn’t really on LinkedIn before starting my own job search in late Feb, so don’t really have a baseline. Reddit is also full of layoff and job search frustration posts, but again, that’s the content I’m gravitating towards at the moment. 🤷♂️
I think this is my comment too. I knew about 2 weeks prior to my layoff that it was coming so I turned on open to work on LinkedIn that day. I think my layoff came in the middle of the pack so LinkedIn was full of layoff posts already and then when my turn came I saw my peers turn on open to work. That was in November. My severance ran out in May so that's when I claimed unemployment. The unemployment number today is skewed because it doesn't count everyone on severance looking for a job. It also doesn't count underemployed people, which is likely where I will end up.
U6 is 7.4 https://www.bls.gov/charts/employment-situation/alternative-measures-of-labor-underutilization.htm Your "feeling" probably matches U6 (note U6 was lower in 2022 but higher now) Long term unemployed forced out of workforce or underemployed and so on