this post was submitted on 16 Dec 2024
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Late Stage Capitalism
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Now hold on. I think you can make good arguments here without using a 2020 pandemic unemployment rate per your first article. The current "real" unemployment rate is around 8%. Arguably a little higher due to under reporting. This includes folks who are underemployed or discouraged job seekers.
https://www.bls.gov/news.release/empsit.t15.htm
You could argue that the broken social contract makes employment ineffective or doesn't grant the same promises as it used to. You could argue that workers don't see the benefits they deserve or that unemployment is not a good measure of people's well-being.
We don't have to misrepresent facts to make arguments.
It's almost half that at 4.2% as of Nov.2024.
The link I posted says 7.8, seasonally adjusted. It's the bottom-right-most cell in the table