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Author Topic: Unemplyment at least 50% how world will look like then ?  (Read 1279 times)
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July 03, 2022, 05:50:01 PM
 #1

Unemployment at least 50% in usa at least so how THE wprld world will look like ?
Definately all prices will 80-90%down
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July 03, 2022, 07:24:54 PM
Merited by The Sceptical Chymist (5)
 #2

Unemployment has different categories. Not all unemployed does not mean he has no income. This strength can be drawn from the increase in job applicants in factories and some shops. Unemployment means he is free without the need to work according to structured rules. According to the Bureau of Labor Statistics (BLS) in the United States:
Quote
There are about 60,000 eligible households in the sample for this survey. This translates into approximately 110,000 individuals each month, a large sample compared to public opinion surveys, which usually cover fewer than 2,000 people. The CPS sample is selected so as to be representative of the entire population of the United States. In order to select the sample, all of the counties and independent cities in the country first are grouped into approximately 2,000 geographic areas (sampling units). The Census Bureau then designs and selects a sample of about 800 of these geographic areas to represent each state and the District of Columbia. The sample is a state-based design and reflects urban and rural areas, different types of industrial and farming areas, and the major geographic divisions of each state.

Every month, one-fourth of the households in the sample are changed, so that no household is interviewed for more than 4 consecutive months. After a household is interviewed for 4 consecutive months, it leaves the sample for 8 months, and then is again interviewed for the same 4 calendar months a year later, before leaving the sample for good. As a result, approximately 75 percent of the sample remains the same from month to month and 50 percent remains the same from year to year. This procedure strengthens the reliability of estimates of month-to-month and year-to-year change in the data.

Each month, highly trained and experienced Census Bureau employees contact the 60,000 eligible sample households and ask about the labor force activities (jobholding and job seeking) or non-labor force status of the members of these households during the survey reference week (usually the week that includes the 12th of the month). These are live interviews conducted either in person or over the phone. During the first interview of a household, the Census Bureau interviewer prepares a roster of the household members, including key personal characteristics such as age, sex, race, Hispanic ethnicity, marital status, educational attainment, veteran status, and so on. The information is collected using a computerized questionnaire.

Each person is classified according to their activities during the reference week. Then, the survey responses are "weighted," or adjusted to independent population estimates from the Census Bureau. The weighting takes into account the age, sex, race, Hispanic ethnicity, and state of residence of the person, so that these characteristics are reflected in the proper proportions in the final estimates.

A sample is not a total count, and the survey may not produce the same results that would be obtained from interviewing the entire population. But the chances are 90 out of 100 that the monthly estimate of unemployment from the sample is within about 300,000 of the figure obtainable from a total census. Relative to total unemployment—which ranged between about 7 and 15 million over the past decade—the possible error resulting from sampling is not large enough to distort the total unemployment picture.


This means that each sampling will be very diverse and have changes from time to time based on levels taken randomly or using the questionnaire method. The data will continue to change every month and is invalid for a certain period of time, so the government needs to update the data starting from screening, job applicants and graduation of applicants who were out of the sample last month.

I took the questions posed to the informants, namely acting as a research sample that met the following requirements:

Quote
1. Does anyone in this household have a business or a farm?

2. Last week, did you do any work for (either) pay (or profit)?
If the answer to question 1 is "yes" and the answer to question 2 is "no," the next question is:

3.Last week, did you do any unpaid work in the family business or farm?
For those who reply "no" to both questions 2 and 3, the next key questions used to determine employment status are:

4. Last week, (in addition to the business) did you have a job, either full or part time? Include any job from which you were temporarily absent.

5. Last week, were you on layoff from a job?

6. What was the main reason you were absent from work last week?
For those who respond "yes" to question 5 about being on layoff, the following questions are asked:

7. Has your employer given you a date to return to work?
If "no," the next question is:

8. Have you been given any indication that you will be recalled to work within the next 6 months?
If the responses to either question 7 or 8 indicate that the person expects to be recalled from layoff, he or she is counted as unemployed. For those who were reported as having no job or business from which they were absent or on layoff, the next question is:

9. Have you been doing anything to find work during the last 4 weeks?
For those who say "yes," the next question is:

10. What are all of the things you have done to find work during the last 4 weeks?
If an active method of looking for work, such as those listed at the beginning of this section, is mentioned, the following question is asked:

11. Last week,, could you have started a job if one had been offered?
If there is no reason, except temporary illness, that the person could not take a job, he or she is considered to be not only looking but also available for work and is counted as unemployed.

According to the United States Bureau of Labor Statistics, the June 2022 Employment Situation is scheduled for release on July 8, 2022, at 8:30 am Eastern Time. So it could be that it will have a significant decrease or even increase. What is clear is that when the US economy is in an unpromising condition, it will only continue to worsen the unemployment data for the following month.

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July 03, 2022, 11:00:23 PM
 #3

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?

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July 03, 2022, 11:38:23 PM
Merited by The Sceptical Chymist (2)
 #4

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?


you are not unlucky but you as a lucky person can create your own job, where you say your finances are better after you stop working,

OP: I don't think there is 50% unemployment right now because I think there is a lot of work that can be done without having a big company, if there are a lot of layoffs of employees take a positive side because the company can't afford that salary alone, it would be better to be laid off than you continue working but you don't get paid and you can create new jobs that's all I think there is no need to worry because the world doesn't end when you are fired from your job

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July 03, 2022, 11:52:22 PM
 #5


Just wondering, where do you get that data that Unemployment is at around 50% in the US?
I think it's a hypothetical question. He wants to know how things will be then.


If there is 50% unemployment in the US, it is likely that there will be a lot of civil unrest. The cost of living will likely rise as well, as more people compete for fewer resources.
There would be widespread poverty, social unrest, and economic instability.
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July 04, 2022, 12:18:10 AM
 #6


Just wondering, where do you get that data that Unemployment is at around 50% in the US?
I think it's a hypothetical question. He wants to know how things will be then.


If there is 50% unemployment in the US, it is likely that there will be a lot of civil unrest. The cost of living will likely rise as well, as more people compete for fewer resources.
There would be widespread poverty, social unrest, and economic instability.
I think at that point we would need to even ask ourselves if there is a society which can survive for long with an unemployment rate of 50%? And even if it does, is it a society in which we would like to live in? I ask this because in such a society it is obvious that people will do what they can to survive, so civil unrest all over the country will be a reality and even for the fortunate enough to still have a job it would be dangerous to move around the city, since the probabilities of being victims of a crime will go up dramatically at the point.

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July 04, 2022, 12:21:33 AM
 #7

High official unemployment rates mean strengthening of informal economy in the country. I can't say about US, but in my country people work informally, because that is the gap found on the legislature for employers to have less expenses and commitments with employees and for small businessmen/autonomous workers to maximize their profits, since they don't pay extra taxes to the government they would have to, in case of registering a business legaly. There are pros and cons on this kind of economical concept, but one thing is for sure: we can't say 50% of the population is really unemployed just because official statistics are stating that.

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July 04, 2022, 12:23:14 AM
Merited by The Sceptical Chymist (3), Z-tight (2)
 #8

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. or is there something you are not telling us here? Do you work in the ministry in charge of data collection in USA? Alright. i just made a brief research about the current employment rate and this is what i found out..

Quote
US Jobless Rate Unchanged for 3rd Month
The US unemployment rate was unchanged at 3.6 percent in May of 2022, the same as in the previous two months, remaining the lowest since February 2020 and compared with market expectations of 3.5 percent. The number of unemployed people increased by 9 thousand to 5.950 million, while employment levels rose by 321 thousand to 158.426 million. Meanwhile, the labor force participation rate edged up to 62.3 percent in May from a 3-month low of 62.2 percent in April

source: https://tradingeconomics.com/united-states/unemployment-rate#:~:text=for%203rd%20Month-,The%20US%20unemployment%20rate%20was%20unchanged%20at%203.6%20percent%20in,market%20expectations%20of%203.5%20percent.


USA is a country with over 329.5 million (2020) people of which we have got people who are yet unemployed and yet still doing better as a result of multiple side hustles, and internet stuffs which pays way more better than some office jobs, e.g Youtubing, Freelancing, website and app development e.t.c

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July 04, 2022, 12:28:41 AM
 #9

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


At 10% unemployment that is bad
At 20% unemployment that is very bad
At 30% unemployment that is very very bad
At 40% unemployment that is Armarghedon, God help us all !
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July 04, 2022, 02:55:36 AM
 #10

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.

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July 04, 2022, 04:20:01 AM
 #11

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

What documents do you base on to give the percentage above? This is a very high percentage, and I don't think it will happen. We are fighting inflation and economic crisis,  people will also seek ways to have income and that income may not necessarily come from traditional jobs, companies or factories. In the same way that you participate in forum and crypto, it cannot be said that people who don't work for the company will be unemployed and without employment.
 

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July 04, 2022, 04:54:07 AM
 #12

Unemployment means he is free without the need to work according to structured rules.

Not at all, people who are considered unemployed in the statistics are the ones who don't have a job and are actively seeking work, the ones that don;t have a job and are not seeking any are not considered in the statistics.

For the ones wondering why OP is quoting the 50% number.
There is another statistic, that of employment level, it considers the total civilian noninstitutional population (over 16, not in prison not in the army)  and the total employed workforce.
In the US there are 261 million people available for work and 151 million who actually work, so that would bring the rate to about ~60%.

But real unemployment and employment level are different things altogether.






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July 04, 2022, 06:27:29 AM
 #13

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


It is really hard to imagine a country with 50% unemployment rate, it means that out of 2 random people you meet on the street one is likely employed and the other one is not. What happens to the tens of million unemployed people? The government will have to increase welfare and take care of them. All the free money that the government brings into the market should keep prices stable I would expect. A price drop of 80-90% for all goods seems very unlikely, because all the money in the economy doesn't just disappear with rising unemployment. It is just a new distribution of capital, the rich 1% and all the big corporations will hold most of the money. With half of the country not working I don't think they will be happy about where their money meant. We should see the rise of more extremist leftist politicians who will take away the money from the rich and distribute among the poor.
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July 04, 2022, 09:45:21 AM
 #14

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


It is really hard to imagine a country with 50% unemployment rate, it means that out of 2 random people you meet on the street one is likely employed and the other one is not. What happens to the tens of million unemployed people? The government will have to increase welfare and take care of them. All the free money that the government brings into the market should keep prices stable I would expect. A price drop of 80-90% for all goods seems very unlikely, because all the money in the economy doesn't just disappear with rising unemployment. It is just a new distribution of capital, the rich 1% and all the big corporations will hold most of the money. With half of the country not working I don't think they will be happy about where their money meant. We should see the rise of more extremist leftist politicians who will take away the money from the rich and distribute among the poor.


Here it goes universal basic income...then free money
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July 04, 2022, 11:40:02 AM
 #15

Self employment and self empowerment should rather be the focus other than the so called unemployment rate that will never get solved once and for all. So far the self employed are partly holding global economy compared to the public sector. This unemployment rate taking over half the population is alarming but how about creating empowerment programs to help reduce the stats

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July 04, 2022, 04:56:55 PM
 #16

Self employment and self empowerment should rather be the focus other than the so called unemployment rate that will never get solved once and for all. So far the self employed are partly holding global economy compared to the public sector. This unemployment rate taking over half the population is alarming but how about creating empowerment programs to help reduce the stats
Most of the people are trying to find ways to be self employed.  And the freelance industry is blooming.
I was very upset on this inflation but someone said - being upset wont work - earn more money. And that is what I am doing to find ways to be self sufficient.

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July 04, 2022, 05:05:51 PM
 #17

You have said the unemployment rate in the USA is 50% but you have not provided any source of your information. I know the USA is having a hard time stabilizing its economy due to the high inflation rate but I do not think the unemployment rate is that high. Many people earn money online or through the internet and probably govt counts those people as unemployed.

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July 04, 2022, 07:22:47 PM
 #18

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.
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July 04, 2022, 08:37:32 PM
 #19

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.

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July 04, 2022, 08:41:37 PM
 #20

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.
Thats why numbers wont really be the same on every corners of the world if we do speak about unemployment because it does really vary on how the government do handle out such problem and how to resolve
it out.If they are something we do talk about 1st worlds where economic status is really on that good or sweet spot which does provide lots of jobs into its citizens then expect unemployment would be low
but if a certain country do lacks infrastructures and investors who do plan to run a business on a particular country then of course it would really be restricting out that kind of opportunity
for it to be created or open into its citizens and if this one would continue then we do know on what would happen next.

R


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