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I seen a comment on the other site saying "the verified, tax-paying EMPLOYMENT level, as opposed to Unemployment level, is currently 53%"
Would be interesting to see what that level has been at through the years to get an idea of where we actually stand.
I know the current unemployment reporting is completely inadequate with gig work/underemployment and people simply giving up not being counted in the official numbers.
Underemployment has always been an ignored statistic. The media and government report a single number as some sort of status of the economy, when it's so much more complex than one data point.
I agree with you as well of the spirit of what the study in the article is trying to do, but I do object to the terminology they used, as it muddies the waters unnecessarily. A term like "underemployed" is much better than "functionally unemployed."
A term like “underemployed” is much better than “functionally unemployed.”
that's because you're not as used to using the word "functional" as i am.
those who are jobless, Americans seeking but unable to secure full-time employment, and individuals earning "poverty wages," defined as $26,000 or less annually
for the lazy
Usually when the news media talk about "the economy," they're not talking about the financial well-being of workers, or the average citizen. They're talking about how much extra money corporations and the ultra wealthy are making. If every time you read about the economy you mentally transpose the words "the economy" with "rich people's yacht money" what they're writing about becomes a lot clearer.
They're not actually opposing statements. One is a direct result of the other.
It's not schiz. It's about how we measure "the economy". There are lots of ways, and the one that Newsweek (and all mainstream voices) use has nothing at all to do with the wellbeing of people. It only measures the wellbeing of shareholders.
Watch, we're going to get a contradicting article soon about how there's thousands of available jobs and these people will be branded as lazy and unwilling to get work.