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by jaggederest
3 hours ago
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U-6 is 8.1%, but spain uses a pretty comparable base employment rate (u-3 equivalent), so fair cop that US unemployment is easily less than half. Relevant: https://en.wikipedia.org/wiki/Baumol_effect - drives a lot of effects in the US where automation paradoxically makes non-automated industries insanely expensive (though not the whole story for certain niches e.g. healthcare and education) |
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