On 1/4/2024 5:21 AM, Zen Cycle wrote:
<snip>
> First off, the job creation data presented is from the fed, as listed in
> Scharfs citation.
>
> Second, The EPI reference was from a report they wrote in 2017, and it
> _supports_ the idea that the reported unemployment rate is generally
> lower than the actual unemployment rate.
Exactly. The EPI _supported_ the fact that the reported unemployment
rate excludes "missing workers" who are no longer collecting
unemployment. Those workers may or may not still be looking for work.
And that's why I always use citations, it infuriates "those who must not
be named!"
> So, rather than actually address the data, you instead chose to dismiss
> it because of your ignorant right-wing bias against data you don't like.
> FWIW, EPI may be "left-center", but they're substantially less biased
> than any of the ridiculously questionable sources you extrapolate your
> perverted viewpoints from.
Yes, but there's no way to get someone who's beliefs are not based on
facts to accept facts. Give up and filter him out.
Even right-wing policy groups admit that job growth has been
spectacularly high and that unemployment has been low. Wage growth
outpaced inflation in 2023. Inflation is now coming down, due to the
Fed's interest rate increases. 2023 annual inflation was 3.1% (this
doesn't factor in December yet) while wage growth was 3.48%. Wage growth
was 4.93% for 2022, but inflation was much higher in 2022 because the
Fed's actions had not yet yielded results.
<
https://www.cpapracticeadvisor.com/2024/01/03/u-s-small-businesses-saw-job-growth-for-all-of-2023/99655/>.
Small businesses are glad to see wage growth coming down due to
decreased deflation, though workers might not be too happy about that.
Alas, the interest rate increases have caused new construction to
decrease because many projects don't pencil out due to higher
construction costs combined with falling lease rates.
A lot of the reduction in new housing construction in my area (Bay Area
of California) is also due to falling population caused by the ability
to remote-work. The high-cost luxury rental housing market has crashed
as those tenants are buying houses in outlying areas of the region where
home prices are much lower. So developers are abandoning or downsizing
new housing projects and also abandoning new commercial office projects.
Ironically, one law, intended to increase housing production, is being
used by developers to reduce the size of their approved projects
<
https://www.cbsnews.com/sanfrancisco/news/builders-remedy-san-jose-flea-market-3500-homes-may-be-slashed-to-900/>.
It's ironic that we have a large homeless population while at the same
time we have a glut of empty, market-rate housing. The gap between what
the unhoused population can afford, and the rent of the empty housing,
is enormous.
> And no, these articles weren't written by 'token liberals' on the
> editorial staff. You're entitled to your own opinion, you aren't
> entitles to your own facts, dumbass.
Good luck with that!