Well, then do us all a favor and quit you incompetent assholes!
Pre-recession unemployment rate is out of reach
A new report authored by a Federal Reserve president says unemployment cannot fall to pre-recession levels without an inflationary impact. So get used to high unemployment.
By Nin-Hai Tseng, Fortune
May 4, 2012: 11:50 AM ET
On Thursday, John Williams, president of the Federal Reserve Bank of San Francisco, suggested that perhaps Americans should lower their expectations given the challenges workers faces. A research note co-authored by Williams estimated that the lowest level of joblessness that can be reached without leading to inflation could be 6.5%. Before the recession, the unemployment rate was generally at around 5%.
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In early 2009, eligibility for unemployment benefits was extended from 26 weeks to up to 99 weeks.While such benefits reduce hardships for the unemployed, they might also “reduce the incentive of the unemployed to seek and accept less desirable jobs,” according to the report.
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If workers are latching on to any hope that the economy has turned a corner, perhaps they’d be more realistic by hoping for a little less.
Don’t let the door hit you, you lazy useless gits.
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Domestic “relocation/re-education” FEMA detainment gulags now big in the CT news. Also big is the May meeting of NATO in Chicago and plans to lock down/evacuate that city in the event of a staged false flag “terror” event.
OK, so I used to travel internationally supporting world renown science geeks yet today I was scraping labels off returned electronic junk to recycle the case.
And he’s probably right. At 6.5%, wage demands would start to go up. Then again, at 6.5% the “people who have given up looking” might start looking and help hold the 6.5 line steady for a while.
On the upside, more employment = more taxes and more consumption, i.e. a growing economy. The deficit is only significant as a percent of GDP. Grow the GDP, throw in a dash of inflation, and the big , bad deficit suddenly isn’t so big and bad anymore.
Also remember that the unemployment number doesn’t cover people working under the table. That number always grows in down times.Coming out of a recession, which I think we’re still way deep into, those cash and carry workers may just choose to stay that way. There could be 1 – 2% employment unaccounted for. Maybe more.