Jobless at 6.7%

[Sava]

Okay so let's say I'm growing pot in my backyard and I'm hungry. How do I get food?

Everything is done by computers. Food is prepared in a 3D printer using basic materials.

[100% Wolf]

So I get on a website, fill out my order, and the 3-D printer in my kitchen makes it for me? And the materials are delivered by flying robots?

[Sava]

No need for internet access. This is all done on local machines. Material for 3D printers is distributed to properties just like power, gas, and water... through a series of tubes.

[100% Wolf]

Artificial beef made from tube goo sounds delicious! :b;

[Kidlicious]

People have the option of working less either through less hours per week, or more vacation time, or barring that, earlier retirement. They have a tradeoff between leisure time and money. When they choose to work less they can devote more time to freely creating whatever they want. This makes sense, but what does it have to do with destroying private banks?

Who's the person who thought all this up?

[Sava]

Artificial beef made from tube goo sounds delicious! :b;

There's much less ground up cow taint... 50% as much!

[100% Wolf]

Who's the person who thought all this up?

I think Sava invented the notion of a post-scarcity economy just now. He's a genius!

[Sava]

I know! The solution is simple. Make more stuff. Duh!

[Kidlicious]

I think Sava invented the notion of a post-scarcity economy just now. He's a genius!

No I mean about being better that people don't have to work.

[100% Wolf]

No I mean about being better that people don't have to work.

Sava again. Thinker of the century.

[Kidlicious]

There's some guy though. I heard about him on NPR. I can't remember his name. I'm wondering if people like Pelosi and Biden get their nonsense from him. I wan't to research it.

[100% Wolf]

lol
where do you do your "research"? Conservapedia?

[Sava]

Sava again. Thinker of the millennium.

Fixed.

[BlackCat]

6.7% is still slightly high but is within a percent or so of full employment (5.5%-6%)

I'm a bit confused by this - here full employment is 2%. 5.5-6 would be considered a major crisis.

[Ben Kenobi]

I don't think any reasonable person can say we're not on the road to a full recovery right now

Ok, thought experiment.

Say I have 2 million people unemployed.

Say I have a workforce of 20 million people.

This means that I have 2/20 or 10 percent unemployment.

What normally happens is that:

1, the workforce increases, and so does the total number of unemployed.

So, now we have 2.2 million unemployed and 25 million people. Unemployment has increased, but the ratio goes down. This is good.

Now, what happens if I change who counts as 'inside the workforce'?

We now have 1 million unemployed out of a workforce of 15 million people.

The ratio has improved, even as the workforce as a total, has shrunk by 5 million people.

What is happening is that long term unemployed are getting dropped out of the workforce entirely, and the workforce is at 40 year lows.

Does this sound good to you, snoopy?