[everdrive]

"Nothing is safe, nothing is reliable, and I am looking at the extremely real possibility that I am already unemployable if I have to go back on the market."

Anyone I know who has needed to look for work has had a hell of a time with it. It's a scary world out there.

[slibhb]

In the US, unemployment is at 4.3%.

[mathgeek]

You’ll want the U-6 rate as well for comparison: https://www.bls.gov/news.release/empsit.t15.htm

[neural_thing]

And U-6 is lower than e.g it has been in ALL of 2008-2018? Generally pretty close to historic lows. Not sure what extra information it provides

[miyoji]

That has nothing to do with the fact that the hiring market for software engineers sucks right now.

[elzbardico]

Employment numbers don't tell the whole history. You may lose your job as a SWE making 200k/y and to control the hemorrage of your savings, accept a part time contractor role that nets you a fraction of what you used to get, without benefits, or you can start driving for uber, door dash, etc. All of it will make you count as employed.

[NavinF]

That's often called "occupational mismatch" and it smuggles in a normative claim that someone always deserves a job matching their prior title, education, or salary. Labor statistics do not and should not assume that.

Also in my experience part time contractor roles are awesome. <20hr/wk = low stress, most of my big purchases like computer hardware were deductible business expenses, and the coveredca subsidy let me get a very good health plan (courtesy of all the full time guys who bleed taxes and get zero subsidies in return)

[satvikpendem]

This doesn't count those who've given up on looking.

[slibhb]

If you want more detailed numbers, go look them up. BLS publishes them.

Unemployment is nearly at historical lows. But don't let data distract you from the same tired "everything is terrible" line that's every other post here.

[gazebo2]

Pretty massive difference between "being employed" and "being employed with a decent wage". Yeah, there's plenty of low-wage service industry or gig economy work available to take you out of the unemployment statistic -- there's a lot less employment available that enables you to live a decent lifestyle (i.e. live somewhere without 4 roommates or raise a family)

[NavinF]

U-3 (unemployment rate) is 4.3% like he said. U-4 (U-3 plus discouraged workers, people who want and are available for work but stopped searching) is 4.6%. Practically the same.

[georgemcbay]

Also doesn't count the underemployed.

Very common for people suddenly laid-off from salaried work to turn to part-time gig work and that immediately removes them from the 4.3% unemployed statistic.

[NavinF]

That's U-6 (U-5 plus people involuntarily working part-time). It's 8.1%. Pretty low by historical standards, but not as low as it was 3 years ago (6.9%)

[r_lee]

nor those who are driving Uber or doordashing

[sylos]

The folks who made accurate federal numbers were fired some time ago. the current numbers are about as accurate as someone with an active interest in lying about it cares.