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>Really? Really? Take a look at the unemployment in Spain or France and get back to me. Really? Really? You think the unemployment in Spain and France is because of the minimum wage? They had the minimum wage decades before they had high unemployment (and inversely for the US). Not to mention unemployment rate doesn't say much, since in the US it includes all kinds of subsistence semi-jobs that would qualify more like colonial deals in other countries -- among other manipulations: "The answer lies in the measurement of unemployment. If you have not looked for a job in the last four weeks, you are not counted as being unemployed, because you are not counted as being part of the work force. When there are no jobs to be found, job seekers become discouraged and cease looking for jobs. In other words, the 4.1 percent unemployment rate does not count discouraged workers who cannot find jobs. (...) The US Bureau of Labor Statistics has a second measure of unemployment that includes workers who have been discouraged and out of the labor force for less than one year. This rate of unemployment is 8.2 percent, double the 4.1 percent reported rate. (...) The US government no longer tracks unemployment among discouraged workers who have been out of the work force for more than one year. However, John Williams of shadowstats.com continues to estimate this rate and places it at 22 or 23 percent, a far cry from 4.1 percent. In other words, the 4.1 percent unemployment rate does not count the unemployed who do show up in the declining labor force participation rate." [1] In any case, even with the given "unemployment rate" as the metric, the US is well below Cambodia, Laos, Thailand, Vietnam, Guatemala, and other places, the same way it is, itself, ahead of France. Does that tell you much? [1] https://www.foreignpolicyjournal.com/2018/03/08/make-believe... |