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US unemployment numbers keep reaching historic lows, is this making it hard to find workers in your shops?

Trboatworks

Diamond
Joined
Oct 23, 2010
Location
Maryland- USA
Crazy low numbers-
26 states 3% or below for third straight month.
A bunch of states including mine below 2%.
These are record lows in a number of key states.

In my industry it has been getting harder to find workers for some time.
 
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In my industry good workers can be found but they are less trained and experienced.
Those with time in the trade are captive in other shops.

Marine trades work is a niche area though.
It has always been tough to find really experienced workers it’s just more so now.
 
Were seeing similar low numbers in unemployment stats in Australia. Last round of figures have rebounded a bit probably due to market stabilisation and the easing of increasing interest rate controls. The real killer is the lack of qualified and unqualified new entrants. Traditionally trainees in the 70's came through government enterprise apprenticeships in defense and infrastructure. Those government enterprises were sold with the intention of buying finished product from overseas and other outsourcing. We are paying the price now. The journeymen are retiring, the the backup crew don't have much to offer and the new entrants can earn more at mcdonalds for a while. At the same time, industry who is crying out for new people won't train them and won't value current workers with experience.
 
We’re seeing similar low numbers in unemployment stats in Australia. Last round of figures have rebounded a bit probably due to market stabilisation and the easing of increasing interest rate controls. The real killer is the lack of qualified and unqualified new entrants. Traditionally trainees in the 70's came through government enterprise apprenticeships in defense and infrastructure. Those government enterprises were sold with the intention of buying finished product from overseas and other outsourcing. We are paying the price now. The journeymen are retiring, the the backup crew don't have much to offer and the new entrants can earn more at mcdonalds for a while. At the same time, industry who is crying out for new people won't train them and won't value current workers with experience.

Yip, and nobody seems to care enough to do anything about it.
 
I did pull up the chart lol.
Pretty clean slide to full employment from the housing crisis ‘07- ‘08 with the exception of the Covid mess.

Attribution seems fairly resistant to sitting administration so bragging rights probably don’t apply here.

I will grab a moment and pull this out to trends in Europe.
It seems though that this is a large cycle event.

But… worrying news out of China so..
 
Low unemployment numbers---government stats versus anecdotal evidence.
Gov't stats. We have record low unemployment--that is one statistic and to tell you the truth I never looked into how that number is determined.
"anecdotal evidence" is everyone posts the same thing "I can't find people to fill jobs".

But....there is this--- (not from U.S. gov't source)
"The unemployment rate measures the share of workers in the labor force who do not currently have a job but are actively looking for work. People who have not looked for work in the past four weeks are not included in this measure.

And....If so many citizens are really truly working and receiving a paycheck should there not be a precipitous drop in the need for assistance? Don't now about your area of operations but the "Smart City" where I rent shop space is like a sponge sucking up assistance funding but looking at the age demographics there should be plenty of warm bodies available for work.

I know the Gov't puts their best and brightest minds working to provide data that supports the Administration in a positive light. And, for that reason I've grown quite skeptical regarding most all data coming from D.C.
 
I know the Gov't puts their best and brightest minds working to provide data that supports the Administration in a positive light. And, for that reason I've grown quite skeptical regarding most all data coming from D.C.
What HE said^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

I simply don't believe ANYTHING from government sources.

The unemployment rate is derived from those receiving unemployment compensation.

Yet it is touted as a true measure of folks working or not working. Nothing could be farther from the true employment numbers.
 
What HE said^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

I simply don't believe ANYTHING from government sources.

The unemployment rate is derived from those receiving unemployment compensation.

Yet it is touted as a true measure of folks working or not working. Nothing could be farther from the true employment numbers.
Have no idea how the following factors into the modern U.S. economy so maybe cut the numbers in half.....
"Over 1 in 4 Americans are turning to the gig economy for a tax-free income on the side. Side hustling and the gig economy are becoming the new American dream, with nearly 70 million Americans earning cash under the table."
 
Damn the pesent american administration! Putting *so* many poeople to work. We need a president who truly embraces unemployment.
jim.......
If one views unemployment as contributing to poverty there is no doubt a political party might benefit from gaining the poverty vote. I think "War On Poverty" might prove to be a popular campaign slogan.
 
What HE said^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

I simply don't believe ANYTHING from government sources.

The unemployment rate is derived from those receiving unemployment compensation.

Yet it is touted as a true measure of folks working or not working. Nothing could be farther from the true employment numbers.

The source doesn’t matter.
If the same metrics are applied the trends are what is important.

If you retreat to a nothing is real stance you have left the conversation.
 
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The source doesn’t matter.
If the same metrics are applied the trends are what is important.

If you retreat to a nothing is real stance you have left the conversation.
Yet, here I am.

"Metrics" are useless if the goals keep changing.

Source is EVERYTHING.

It used to be that the goals were to inform the taxpayers. That is no longer the goal.

Now the goal is to advance a narrative, nothing more.
 
Yet, here I am.

"Metrics" are useless if the goals keep changing.

Source is EVERYTHING.

It used to be that the goals were to inform the taxpayers. That is no longer the goal.

Now the goal is to advance a narrative, nothing more.

What I mean by ‘left the conversation’ is that in taking the stance that no valid unemployment numbers exist, there is really nothing left to discuss.

In my view this is not a partisan debate.
I look at long trends.
If those trends are bracketed by time frames which far exceed an administrations tenure I do not find it reasonable to assign attribution.

I like to say attribution is a tough game.
Tough enough that is wise to leave the politics out of these discussions.
 
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I was not trying to insert politics into the narrative.

I was lamenting the loss of an active and inquisitive PRESS.

Jim Lehrer would be asking why the DOL wasn't giving the REAL numbers, not an easily fudged number. And, he would not allow the respondent to wiggle out of answering.

Both side fudge the numbers, it's the presses job to get the real numbers for the taxpayers. That's why the press is the only business that is protected in the constitution.

That was my only point.

P,S.
Add Jim to my list of folks that I really miss.
 
Here in Canada there is a shortage of workers, if you talk to any business owner, its impossible to find workers. Stats from government say 5.5% unemployed right now. Judging from the drug addicts on the streets and welfare offices there is plenty of people who just don't work anymore that aren't included in the stats.

I find it out odd that Bank of Canada wants to increase unemployment to fight inflation https://centreforfuturework.ca/2022/11/22/upside-down-economics/

How about stop printing money out of thin air and putting an increasing all the time carbon tax on everything and every stage of an items path to the consumer.
 
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Here in Canada there is a shortage of workers, if you talk to any business owner, its impossible to find workers. Stats from government say 5.5% unemployed right now. Judging from the drug addicts on the streets and welfare offices there is plenty of people who just don't work anymore that aren't included in the stats.

I find it out that Bank of Canada wants to increase unemployment to fight inflation https://centreforfuturework.ca/2022/11/22/upside-down-economics/

How about stop printing money out of thin air and putting an increasing all the time carbon tax on everything and every stage of an items path to the consumer.
"anecdotal evidence"
"Judging from the drug addicts on the streets and welfare offices there is plenty of people who just don't work anymore that aren't included in the stats."

I would tend to agree with what I see in my area....
Actually if you dig a bit there are estimates based on percent of GDP regarding "off the books" employment or the extent of those who are "employed" by the illegal drub business along with prostitution and other such "careers". It would be interesting if modern unemployment numbers could be adjusted for those factors which have greatly increased in the last few years.
 








 
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