this post was submitted on 19 Dec 2023
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A Boring Dystopia
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I’d just critique:
Which definition of “unemployment” are you referring to though?
Im asumming youre referring to the one the whitehouse likes to use, where they count minimum wage part time work as employed, and dont count people who gave up looking for work as unemployed.
Labor participation rates are improved but still relatively low lttps://data.bls.gov/timeseries/LNS11300000
Yeah that's the one I was referring to in response to OP, but measure it by whichever indicator you want (federal unemployment numbers, jobs growth, help wanted listing, increasing pay rates, union contract negotiation outcomes). 'Unemployment' (nor underemployment, nor labor participation) is not currently indicative as the causation for the housing affordability problem.
Or relatively high, depending on which period you're comparing it to (high compared to 50's, low compared to 90's).