Unemplyment at least 50% how world will look like then ?

[uneng]

I think portugal and spain have both endured youth unemployment statistics near to 50% for their age bracket of 19 to 24. It would seem parts of europe have already achieved 50% unemployment for some segments of the population. Wages rather than unemployment determine prices. It all depends on what consumers can afford to pay.

In africa where the average wage can be as low as $30 per month, prices are low. In other nations with higher average wages, prices will be higher.

Unemployment doesn't have much affect on prices. And cities are generally becoming less friendly and hospitable towards unemployed and homeless populations as time passes.

If you come to south asia - you will see 50% people living below the poverty lines.
Some countries have made a good progress while the other corrupt government and bureaucracy has not let the country progress.

Probably because these are still agricultural countries, without access to technology which could help them produce more and manufacture the raw goods (profiting more) with less effort, added to high rates of illiteracy.
About governors it's hard to say. Some countries are/were under monarchical regimes so far, while others are democratic ones, what means citizens choose their leaders. Consequently, if authorities are corrupt and make things more difficult for individuals through bureaucracy it's fault of the own people who are suffering in precarious living conditions.

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[Theones]

About governors it's hard to say. Some countries are/were under monarchical regimes so far, while others are democratic ones, what means citizens choose their leaders. Consequently, if authorities are corrupt and make things more difficult for individuals through bureaucracy it's fault of the own people who are suffering in precarious living conditions.

I agree - and I wish people stand-up against the all the ills the politician and bureaucrats have done to the public.
The main power is public and not the government. If everyone stand up again ills and odd then the corrupt government has to step down.

[Leviathan.007]

I'm not sure but according to what I found from google the unemployment rate is increseing in all over the world not just in the USA and the reason why this is happening can be because of the life situation in many countries and also the economic situation the recent world crisis was a reason for increasing the unemployment not just in the USA but in all over the world and talking about that I believe if this really happens in a developed country like the USA, then we can expect to see even much worst situation in the other countries, but in the this cannot be the reason for saying the prices will fall down because even if someone unemployed still he can have income even more than employed people.  

[abel1337]

Is there a source of USA having a 50% unemployment rate because it's really high. If we hypothetically think that the unemployment rate is 50% the basic necessities will go high that will make surviving so hard. Being unemployed doesn't mean they have no income, I've seen unemployed person hustling and getting much more money than I am regularly making. There are things that you can do in internet to make a money but the government can't know you are earning unless you tell the government like using crypto to earn profits.

[doomloop]

Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down

You just gave a rough statistics without a reference backup source, and this is ideally not professional, because we would have love to see a proof to your statement.

It's hard to believe without a proof because he was talking about the u.s country there and I think u.s is a wealthy country. It's not hard to find a job there. The pay rates are also quite impressive on this country. 50 percent is too much already but I would agree on it if he is talking about the third world country like the Philippines where the complaints of the people there are mainly about the job or unemployment.

How will the world look like if unemployment rates are high? Well it looks bad, very bad. 80 to 90 percent drop in the price is too much. It may seem a good thing but how can people avail them if they don't have a money because they don't have a job? It's still useless.

[avikz]

50% unemployment!!! This is absurd! The national unemployment rate in US is currently at around 4%.

https://www.statista.com/statistics/273909/seasonally-adjusted-monthly-unemployment-rate-in-the-us/

If the unemployment reaches 50%, then you will have to understand that the economy of that country is destroyed. Which is certainly not the case!

[Jawhead999]

50% unemployment!!! This is absurd! The national unemployment rate in US is currently at around 4%.

High unemployment rate is the worst problem rather than inflation or world virus since unemployment will affect anything of the world, while inflation and virus is still tolerable. We can prevent the spread of the virus by following the health protocol and inflation will kill in the long run, but almost doesn't have any effect in a year. While 50% unemployment will increase beggars, criminals, starving, economic crash and might become the worst country if they don't have any plan to change their country.

[stompix]

I think portugal and spain have both endured youth unemployment statistics near to 50% for their age bracket of 19 to 24. It would seem parts of europe have already achieved 50% unemployment for some segments of the population.

Those are regional things, it's mostly because of particular situations and also a lot of mentalities of the populations.
All over Europe there are different things, from low unemployment when it comes to women in Italy for example, to youngsters in most southern countries to overall less willingness to work in the true economy and more in the black, unregulated in the eastern parts...and so on

Anyhow, when it comes to Europe the employment levels are sky-high, even in Spain,
Spain sees record employment levels since 2008, the EU is experiencing the highest level of labor participation in its history,  74.5 %, it's full 10 and in some cases, even 20% higher than other countries in the world and I'm not talking about 3rd world economies.

I'm not sure but according to what I found from google the unemployment rate is increseing in all over the world not just in the USA

Not at all, the EU is experiencing the lowest unemployment in its history:
https://www.reuters.com/markets/europe/euro-zone-unemployment-falls-new-record-low-66-may-2022-06-30/
the lowest level since 1998.

[yhiaali3]

I think that the largest unemployment rate in the history of the United States was during the outbreak of the Corona epidemic, because of the quarantine, people stopped going to jobs and many companies stopped their services and laid off a large part of their workers, but I think that the situation is now much better and the unemployment rate has decreased and a large number of people have returned to their jobs.
In any case, I did not understand why the prices will increase by 80-90%, as you say? What does this have to do with unemployment? On the contrary, according to what I know, when unemployment increases, prices go down because goods cannot find anyone to buy them, and therefore producers will be forced to reduce prices to dispose of their products.

[virasisog]

About governors it's hard to say. Some countries are/were under monarchical regimes so far, while others are democratic ones, what means citizens choose their leaders. Consequently, if authorities are corrupt and make things more difficult for individuals through bureaucracy it's fault of the own people who are suffering in precarious living conditions.

I agree - and I wish people stand-up against the all the ills the politician and bureaucrats have done to the public.
The main power is public and not the government. If everyone stand up again ills and odd then the corrupt government has to step down.

But unluckily in some democratic countries, vote-buying is existing every election so no matter how other voters try to replace the corrupt officials, they always win the election because lots of voters are selling their votes in exchange for a small sum of money. This situation has been happening for decades already.
The unemployment rate will continuously increase of some businesses will shut down because of an unstoppable increase in the inflation rate which will totally hit the economy so hard.

[fiulpro]

Employment is already plummeting, with feds explaining to major countries about how they should stop putting out new job opportunities for a while to fight inflation to the massive uprest due to the pandemic as well, people are already struggling.

If the unemployment goes down to 50%, there would not only be a massive poverty but at the same time people would also have to invest in self employment options, which would mean that the local areas might be unaffected considering villages have their own self sustaining options but the massive cities would be hit terribly.

[Sterbens]

Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down

I don't know where you take 50% from but if a country is at a 50% unemployment rate then in a short period of time it will be very dangerous for the growth of that country. The US with its symbols and economic ferocity that it tries to show, has actually experienced a drastic decline. I don't know how to breathe in the US and having this happen to 50% is a pretty horrific number. Or people have actually switched professions that are more entrepreneurial and are not included in company data, so they are considered to have no job.

[Kakmakr]

Well, I work on contract in many African countries where the unemployment rate is above 25% .....and rising. The high unemployment rate has placed a huge burden on the employed people, because a large portion of the taxes that they are paying are going towards social grants to support the unemployed.

It is also creating a very high level of crime and corruption in those countries, so I reckon a 50% unemployment will have a devastating impact on the USA if that happens. 

[jossiel]

@OP before you think of any simulation about the effect of having an unemployment rate of 50%, you should provide first the source where you have read it.

Thus, it's just a topic that you want to discuss and want to look at what people think if we ever see that rate being hit. Well, we're in a crisis now and this is going to be another hit and will be adding more problem if there's a certain news and stats that unemployment rate for USA or even for any country hits that number.

[Shasha80]

Well, I work on contract in many African countries where the unemployment rate is above 25% .....and rising. The high unemployment rate has placed a huge burden on the employed people, because a large portion of the taxes that they are paying are going towards social grants to support the unemployed.

It is also creating a very high level of crime and corruption in those countries, so I reckon a 50% unemployment will have a devastating impact on the USA if that happens.  

For a long time, the issue of unemployment remains a major unresolved problem in Africa. Even before the pandemic occurred in Africa,
the number of unemployed was quite high, because development in Africa was uneven. So in most of the countries in Africa there is a shortage of jobs,
this makes the poverty rate in Africa quite high. Moreover, with the pandemic happening, the situation is getting worse, so it is only natural that there is
a fairly high increase in unemployment in Africa. If a solution is not immediately found, it will have an impact on increasing levels of crime and
corruption. And what's scary is that a country as big as the USA is also experiencing an increase in unemployment due to a prolonged pandemic.
Unemployment is a problem that must be taken seriously, therefore countries in the world should start supporting and legalizing crypto, because it
has been proven that crypto can improve the economy and reduce unemployment.

[Sanitough]

Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down

I have been unemployed for a couple of years, but I am even doing much better financially than when I was employed, to an extent that I don't think I will ever apply for any form of formal employment.

Does that mean I am fucked? Nope.

Just wondering, where do you get that data that Unemployment is at around 50% in the US?

Being formally employed is not the only means to generate an income these days, we have a lot of online jobs that offer greater compensation than we usually get from our stable 8-hour day job. I guess that maybe the reason why the case of unemployment has risen today, but i also didn't get the idea why it took 80-90% prices down.

[Ultegra134]

Unemployment will never be 50%. That’s crazy talk. The world would be pretty much on the edge and ending if that were to happen.

If it did then most stocks and crypto would be useless. Nobody would risk buying crypto in a major major depression period.

We might get a recession but it won’t be that bad.

50% is extravagant and such a scenario would definitely suck, however, it's an extreme hypothesis which I doubt that it could ever turn into a reality. However, youth unemployment in Greece is up to 36.8%, according to EU Social, their data is sourced through Europa.eu, which is a reputable database for a variety of data, including Covid-19, Unemployment, GDP etc.

[Oilacris]

Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down

I have been unemployed for a couple of years, but I am even doing much better financially than when I was employed, to an extent that I don't think I will ever apply for any form of formal employment.

Does that mean I am fucked? Nope.

Just wondering, where do you get that data that Unemployment is at around 50% in the US?

Being formally employed is not the only means to generate an income these days, we have a lot of online jobs that offer greater compensation than we usually get from our stable 8-hour day job. I guess that maybe the reason why the case of unemployment has risen today, but i also didn't get the idea why it took 80-90% prices down.

Possible reason or something that should be considered because statistics do only shows those physical or dayjobs and not to those jobs online and its true that earning opportunity or income that could

be gained through online jobs is much more better and something worth on spending  your time and effort rather than on doing that 8-5 job you do have physically.
Even myself had some side jobs despite on having a day job too where it do acts as a side income but do have some consideration on quitting it fully depending if i do see for it to be worth or not.
The risk on having online job is that you cant really assure yourself that it would really be lasting for long or years since we know it does depend on contract.

[boris singer]

Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down

I have been unemployed for a couple of years, but I am even doing much better financially than when I was employed, to an extent that I don't think I will ever apply for any form of formal employment.

Does that mean I am fucked? Nope.

Just wondering, where do you get that data that Unemployment is at around 50% in the US?

This includes the category of unemployed because you do not work and are not registered as workers
But indeed, in a case like this, formal work is actually not a guarantee to make life better, moreover I also feel the same way as you do because during the pandemic I also lost my formal job. but I prefer my daily activities now which basically make me more comfortable and my needs are met from some of the things I do because indeed not all recorded work and considered work can make needs fulfilled because sometimes there are some odd jobs that are even more promising .

[justdimin]

I think portugal and spain have both endured youth unemployment statistics near to 50% for their age bracket of 19 to 24. It would seem parts of europe have already achieved 50% unemployment for some segments of the population.

Those are regional things, it's mostly because of particular situations and also a lot of mentalities of the populations.
All over Europe there are different things, from low unemployment when it comes to women in Italy for example, to youngsters in most southern countries to overall less willingness to work in the true economy and more in the black, unregulated in the eastern parts...and so on

Anyhow, when it comes to Europe the employment levels are sky-high, even in Spain,
Spain sees record employment levels since 2008, the EU is experiencing the highest level of labor participation in its history,  74.5 %, it's full 10 and in some cases, even 20% higher than other countries in the world and I'm not talking about 3rd world economies.

I do not think that it's regional all that much. Look at the USA, or the UK, I know some Asian nations too, and in places like Venezuela and Turkey they have it for higher range, people who are 25 or under, and people who are 50 and over all having hard time finding jobs.

Young people because they lack experience, and older people because they can find cheaper alternatives that are 10+ years younger. Getting 40-45 year olds as high level managers, and executives, and getting 30-35 year olds as worker base. This is both cheap, and also has ab it of experience for most of them. It’s quite good business for all the companies, but ruins the nations for sure.