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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

#51

Post by darth_avocado »

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…

Only works when the times are good though. If you’re getting 50-100 people a day trying to steal, the cops aren’t coming

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

#52

Post by Spivak »

andrewflnr wrote: post #24
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.

I think the parent agrees with you and that tracking uninsured rather than unemployed is a better view of the economy from the ground floor.

My metric for "fully employed" would be has a job, has health insurance and has enough money in savings to fully cover their out of pocket max. Could not be a barer minimum of survival.

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

#53

Post by [deleted] »

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.

[deleted]

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

#54

Post by jm4 »

givemeethekeys wrote: post #46

Most job listings are fake - keep the investors, competitors and other employees think you are hiring. And who knows, maybe the right resume will actually be worth a look.

I've heard this from other people. Is there any evidence of it though?

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

#55

Post by Retric »

philipallstar wrote: post #50
Retric wrote: post #47

Earlier quoted context omitted.

That’s literally the opposite of what happened historically. Read up on the history of textiles for example and cottage industry created and then was supplanted by a capital class. Economies of scale require all sorts of things to get going like efficient transportation, but after a tipping point wealth centralizes not the reverse. Slowly clothing goes from something like 1/3 of all labor to a small fraction of our c…

Ah yes, historically. I've heard of "history".

> Ah yes, historically. I've heard of "history".

Heard of but never actually looked into? Sorry, you set yourself up for that one.

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

#56

Post by triceratops »

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.

Nope nope nope. They are required to act in shareholders' interests. This is not the same thing as "stock price must go up".

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

#57

Post by igleria »

jack_tripper wrote: post #14
immibis wrote: post #10

Earlier quoted context omitted.

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

[flagged]

> I live in Europe

So do I... Europe is quite diverse. My retirement, if there is a society at that point, would be funded by a mix of a private pension fund and a public one (Ireland).

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

#58

Post by analog31 »

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…

In stores I’ve been in the highest density of cameras is directly above the checkouts.

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

#59

Post by Buttons840 »

reactordev wrote: post #5
alecco wrote: post #4

The gig economy is hiding the real employment problem in most of the West. How money Works "The Gig Economy is Full" https://www.youtube.com/watch?v=dqmJN5z6Rjc (10 Dec 25)

That’s just one facet. It’s not just the gig economy is “full”, all economies are “full”. There are not enough jobs for the employable people.

There is a lack of competition.

Watch and you'll see all sorts of things happening that shouldn't be possible in an economy with healthy amounts of competition.

An example that has been on my mind recently is dynamic pricing [0], where everyone is charged a different amount based upon what an algorithm thinks the company can get away with. When healthy competition exists, you can't just arbitrarily charge people more, because they'll just go buy from a competitor.

What does it mean when the things that happen in a healthy free market aren't happening?

I grew up listening to right-wing news radio, and one of the first things I learned in the realm of politics is that "our economy is great; offer quality goods and services at a competitive price and you will make a modest profit and grow and succeed". My political journey in the following decades is a tale of me seeing more and more that idea is false. The companies that truly shape our world first curry favor from those who already have wealth and power, and then focus on crushing competition and establishing a monopoly rather than making a profit; that's why these huge world-changing companies go a decade or more without ever making a profit--the news radio people never gave me an explanation for that.

[0]: https://youtu.be/16i7bPQtoCY?t=720

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

#60

Post by ghaff »

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.

Or they just don't live in cities which not everyone in Europe does either so they can't just walk a few blocks to grab supplies for a day or two.
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