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U.S. unemployment rose in November despite job gains

wsj.com

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Re: U.S. unemployment rose in November despite job gains

#21

Post by Spoom »

treyd wrote: post #11
jmathai wrote: post #7

Earlier quoted context omitted.

Those who are still employed by my local grocery store don't seem too motivated to do their jobs. It's an unfortunate but foreseeable scenario that expedites the problem where people prefer self-checkout. I wish we'd pump the brakes on efficiency and profit.

> I wish we'd pump the brakes on efficiency and profit. This is not legal, executives of publicly traded companies are required to put maximizing shareholder value above all other considerations.

It's not that simple. I'll point you at this Harvard Law Review article[1] to start but shareholder value is not the only consideration for executives and doesn't even need to override.

1. https://harvardlawreview.org/print/vol-137/will-the-real-sha...

Re: U.S. unemployment rose in November despite job gains

#22

Post by Drakim »

almosthere wrote: post #16
petcat wrote: post #6

Earlier quoted context omitted.

I saw a statistic that roughly 10% of the US workforce is in some form of "customer-facing service" role and I just have to wonder how many of those jobs are nearly gone, or already gone. Even if it's a 5% reduction, or 3% over the next decade, that seems catastrophic without a completely new category of jobs to replace them. I haven't talked to a cashier at a grocery store in years. It's all self-checkout. I stayed…

So you've never had a cart FULL of groceries? Or are you one of those people that do 30 items at self checkout?

Buying an entire cart full of groceries that will last for weeks is a somewhat American cultural thing. I'm not saying that I've never seen it, but the norm where I live in Europe is to have one of those hand-held baskets and getting enough for 2-3 days tops.

Re: U.S. unemployment rose in November despite job gains

#24

Post by andrewflnr »

int32_64 wrote: post #17

The most meaningful American employment stat should be employed Americans with health insurance. What's the point of being considered 'employed' if you can be wiped out with one trip to the ER?

This is such a myopic perspective. You're not completely wrong about the risk, but there's no good reason health insurance should be so tied to employment.

Re: U.S. unemployment rose in November despite job gains

#25

Post by psunavy03 »

treyd wrote: post #11
jmathai wrote: post #7

Earlier quoted context omitted.

Those who are still employed by my local grocery store don't seem too motivated to do their jobs. It's an unfortunate but foreseeable scenario that expedites the problem where people prefer self-checkout. I wish we'd pump the brakes on efficiency and profit.

> I wish we'd pump the brakes on efficiency and profit. This is not legal, executives of publicly traded companies are required to put maximizing shareholder value above all other considerations.

This is misinformation. They are accountable to whatever the board and shareholders require of them, so long as that is legal.

Re: U.S. unemployment rose in November despite job gains

#26

Post by reb »

immibis wrote: post #10
jack_tripper wrote: post #8

Earlier quoted context omitted.

>The gig economy is hiding the real employment problem in most of the West. This. Jobs that were previously contract employment jobs that came with health insurance, workers rights and social security and were mostly taken by youth as part time jobs to fund studies, are now turned into gig jobs where you get none of those things and are mostly taken by migrants who live 10 in an apartment and send the money home. Gig…

The capital-owning class is society. Don't you have a 401(k)?

As usual, size matters. Equating typical 401(k)s with the economic activity of the class GP is referring to is... absurd.

But pretending small-time participation in public markets is the same as billionaire participation in private markets is a great way to convince the lower classes our financial system isn't structured to move wealth away from them.

Re: U.S. unemployment rose in November despite job gains

#27

Post by MSFT_Edging »

treyd wrote: post #11
jmathai wrote: post #7

Earlier quoted context omitted.

Those who are still employed by my local grocery store don't seem too motivated to do their jobs. It's an unfortunate but foreseeable scenario that expedites the problem where people prefer self-checkout. I wish we'd pump the brakes on efficiency and profit.

> I wish we'd pump the brakes on efficiency and profit. This is not legal, executives of publicly traded companies are required to put maximizing shareholder value above all other considerations.

Huh I wonder if this has anything to do why all our products are enshittifying.

Re: U.S. unemployment rose in November despite job gains

#28

Post by Der_Einzige »

int32_64 wrote: post #17

The most meaningful American employment stat should be employed Americans with health insurance. What's the point of being considered 'employed' if you can be wiped out with one trip to the ER?

So that we aren’t “europoors”. Unironically.

Re: U.S. unemployment rose in November despite job gains

#29

Post by reactordev »

Drakim wrote: post #22
almosthere wrote: post #16

Earlier quoted context omitted.

So you've never had a cart FULL of groceries? Or are you one of those people that do 30 items at self checkout?

Buying an entire cart full of groceries that will last for weeks is a somewhat American cultural thing. I'm not saying that I've never seen it, but the norm where I live in Europe is to have one of those hand-held baskets and getting enough for 2-3 days tops.

Definitely an American thing.

Re: U.S. unemployment rose in November despite job gains

#30

Post by lazide »

reactordev wrote: post #15
darth_avocado wrote: post #13

Earlier quoted context omitted.

> I haven't talked to a cashier at a grocery store in years. It's all self-checkout That’s at least one trend I’ve seen reversed. All the self checkouts around where I am have been removed because the stores realized that the self checkouts and honesty system only works when the times are good.

Video surveillance and facial recognition is in use here to prevent that kind of thing. You should see what target does to all their stores…

Someone still has to show up to deal with the perp. And the cops have been ‘quiet quitting’ for awhile.
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