Everyone needs to understand one very important thing about unemployment statistics in the US, and that’s the definition of “unemployed”, which requires someone to 1) not have a job and 2) be looking for a job.
What this means is, there are two ways lower the unemployment rate in the US: 1) hire people, and 2) wait until they simply give up and stop looking for a job.
The US is currently exercising the second option to make it look like AI is replacing workers.
Then there is the always not discussed “underemployed”. Also, can’t a person be working two or more jobs and only be counted as one employed person, while the other side of statistics can claim all three jobs being occupied?
Everyone needs to understand one very important thing about unemployment statistics in the US, and that’s the definition of “unemployed”, which requires someone to 1) not have a job and 2) be looking for a job.
What this means is, there are two ways lower the unemployment rate in the US: 1) hire people, and 2) wait until they simply give up and stop looking for a job.
The US is currently exercising the second option to make it look like AI is replacing workers.
Then there is the always not discussed “underemployed”. Also, can’t a person be working two or more jobs and only be counted as one employed person, while the other side of statistics can claim all three jobs being occupied?