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Job seekers giving up: Labor force participation falls to lowest in 50 years

cnbc.com

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Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#101

Post by mothballed »

theodric wrote: post #56
SlightlyLeftPad wrote: post #15

Earlier quoted context omitted.

But you must pay tribute in the form of thousands of dollars in property taxes. Your first born child may also be acceptable.

€98/yr Not everywhere is America, fellow hacker.

America has $0 property taxes in unincorporated Alaska, and possibly a few other places. The rates are determined locally. I pay very little but we also have no public roads and basically no fire or police -- you can pretty much pick what property tax rate you want if you're a little bit mobile.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#102

Post by paul7986 »

Tech WAS such a great career now it's total crap! The hey day of tech jobs when you received tons of prospective jobs offers via Linkedin feels like that's drying up (tho it could be my age which is not listed anywhere on Linkedin). From 2012 up until Spring 2025 each month I'd receive 3 to 6 recruiters offering a new UX Research, Design and or Front End Development job. Not anymore and now these jobs you are now competing with 100s to 1000s for just one job and if you are lucky enough to get an interview you have to go through 5 to 12 interviews LOL. Im laughing even more as i vibe code a project in which my previous personal projects i hired some help like a back-end developer or two. Nope I can do it all myself and save money like so many businesses are and will continue to.

Overall I can't imagine the killing all this head count cause blossomed too much and now AI definitely reducing head count futher is a good thing for an economy. An economy where these jobs let you buy nice single family homes in nice areas.

For me I havent left the job market but it's a huge joke now for techies and soon will be for a lot workers who use a computer to complete their work tasks. AI agents will be reducing all white collar jobs where only a few will be needed vs. 10 or 20 were needed before.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#103

Post by kelseyfrog »

orphereus wrote: post #96
kelseyfrog wrote: post #69

We live in a capitalist society. This means we prioritize making money via capital rather than through labor. It looks like we just got what we've asked for. I'm not sure what the problem is. If you're playing labor in a capitalist society, you're playing a losing strategy.

What?

Huh?

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#104

Post by gruez »

cyberax wrote: post #49
Mountain_Skies wrote: post #39

Earlier quoted context omitted.

Your partisan obsessed brain is why the political class gets away with this.

Sorry, but "both sides" went out of the window in 2024. There are _some_ decent Democrats in the Congress. There are also plenty of bad ones. There are NO decent Republicans in the Congress. And yes, reality appears to be partisan. To the topic in question, PPP was not really a big deal. The real culprit is this: https://fred.stlouisfed.org/series/CP - the corporate profits literally DOUBLED since 2020 because of ear…

>To the topic in question, PPP was not really a big deal. The real culprit is this: https://fred.stlouisfed.org/series/CP - the corporate profits literally DOUBLED since 2020 because of earlier Trump's tax cuts.

Not really. If you add data series for pre-tax profits and index both series to 2020, you see the two lines are basically on top of each other.

https://fred.stlouisfed.org/graph/?g=1X0JM

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#106

Post by overfeed »

cherryteastain wrote: post #68
0x20cowboy wrote: post #53

Earlier quoted context omitted.

I suppose it’s in how you word it. I’ve given up on trying to get a job because there is no point in trying. I can’t afford to pay my rent, but I guess you could call that early retirement.

Point of labor participation is that it's independent of whether you want to be employed or not.

You and gp agree that characterizing non-paticipation as (voluntary) "early retirement" is unsupported.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#108

Post by punkbit »

Alien1Being wrote: post #81

Our HR department has given up. They are being inundated with thousands of AI slop applications each week. Hiring has devolved to word of mouth recommendations.

C’mon! So, when HR manages to get real candidates, why do we have to go through 8 stage of interviews that take months? It’s humiliating.

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#109

Post by aqfamnzc »

Alien1Being wrote: post #81

Our HR department has given up. They are being inundated with thousands of AI slop applications each week. Hiring has devolved to word of mouth recommendations.

Perhaps the old recommendation of "Deliver a resume in person, shake their hand" that many of us younguns have rolled our eyes at will actually come back?? How else to prove your humanity to the hiring manager?

Re: Job seekers giving up: Labor force participation falls to lowest in 50 years

#110

Post by guywithahat »

trescenzi wrote: post #33
12hasgt wrote: post #12

Earlier quoted context omitted.

You get the money back the same way Roosevelt did, 94% tax rate on the rich.

Yea the covid money printing is regularly pointed to as a reason why MMT is clearly bad but that ignores that there’s literally a solution to this problem in MMT. Raise taxes to reclaim the money. It’s a trivial solution which is sadly politically incredibly challenging.

What a horribly dystopian thing to say
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