reply on: US Labor Market With Mixed Data \ stacker news ~econ

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30 sats \ 24 replies \ @Undisciplined 24 Oct \ parent \ on: US Labor Market With Mixed Data econ

What matters to most households is underemployment. Lots of people have some amount of income, but it's not enough to cover their recurring expenses.

Also, lots of people drop off the unemployment numbers, because they've just given up trying to find work.

There's a less manipulated figure called Labor Force Participation that just reports the share of working age people who are employed, but interpreting that has its own problems.

103 sats \ 2 replies \ @Satosora 24 Oct

That is also true. But I know they realize that their numbers arent correct. There has to be a better way of publishing this data. Maybe by using the tax system? They can tell who is not making the poverty line.

72 sats \ 1 reply \ @TomK OP 24 Oct

Good point

0 sats \ 0 replies \ @Satosora 24 Oct

They just dont want to publish accurate data. Its not that hard to extract the data after they have it.

54 sats \ 20 replies \ @Cje95 24 Oct

Are you surprised that the data was what it was? I thought the Hurricanes would have really screwed it up and maybe this is that happening but I am not so sure. I figured we would have a spike across the board given the sheer destruction and just general chaos of the hurricanes.

20 sats \ 19 replies \ @Undisciplined 24 Oct

I hadn't really given it much thought. Unemployment filings require the person to be able to file. If power and internet are knocked out, you're not going to be filing for unemployment. Plus, there was probably some temporary employment in the form of disaster relief.

45 sats \ 17 replies \ @Satosora 24 Oct

I dont know, its not like hurricanes happen never. They get hit every year down there.

30 sats \ 16 replies \ @Undisciplined 24 Oct

These were much more destructive than normal, though.

39 sats \ 15 replies \ @Satosora 24 Oct

They live there knowing that is a risk. It has always been a risk. Just like people in the west live in a desert. People in the north live in the snow. People in the south live near the water.

47 sats \ 12 replies \ @Cje95 24 Oct

Not the mountains of North Carolina. That is why the death toll is so bad there was no evacuation order and only some lucky people received warnings at all. Most people where stuck by the time it got bad with roads washing out completely.

49 sats \ 11 replies \ @Satosora 24 Oct

I realize it isnt normal for them, but they just watched it come. Its not like the storm hit them out of nowhere.

50 sats \ 10 replies \ @Cje95 24 Oct

Yes, they have been hit by hurricanes but nowhere near the damage that occurred ever did. If it was so bad and everyone knew it the government would have ordered evacuations but no one thought it would be that bad that far inland. So no one left I mean you in the mountains the government is saying it will be fine why would you leave?

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0 sats \ 1 reply \ @Undisciplined 24 Oct

Sure, but realized unemployment effects will be driven by realized hurricane severity.

43 sats \ 0 replies \ @Cje95 24 Oct

RIP to Trop Roof... I wonder if they end up not replacing it and going open aired for the season and just speed up building the new stadium they are supposed to move into by 2028.

40 sats \ 0 replies \ @Cje95 24 Oct

Makes sense... I remember after the destruction was clear that people on CNBC were talking about how the jobs numbers might get screwed up from it. At the same time it makes sense that the destruction was so bad that they really couldn't file