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by flunhat 1506 days ago
It's true that companies are having a hard time finding employees. And it's also true that fewer people are in the workforce than before, largely due to retirements. So that paints a picture of an economy where there are plenty of jobs available and not enough people to work them, which is low unemployment.

But high employment seems a little different to me than just low unemployment, just because my read is that there's fewer people working in general than before the pandemic (IIRC). [1][2]

[1] https://www.uschamber.com/workforce/understanding-americas-l... [2] https://www.fitchratings.com/research/sovereigns/fittch-rati...

1 comments

It seems like we have high employment but unemployment rate is being ravaged by Goodhart's Law after being such an important needle for politicians and the Fed itself. It doesn't seem like many of the employment options are good, but in order to keep unemployment down we have coerced our institutions to create low quality high quantity jobs.