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re: Biden's broke generation
Posted on 4/2/24 at 11:42 pm to AndyCBR
Posted on 4/2/24 at 11:42 pm to AndyCBR
quote:
I'd say that is based on perception and very industry specific. The labor participation rate is at historic lows, many people are out of the workforce due to lack of work. There are plenty of layoffs from some of the largest, and most well performing companies in the country (Amazon, Google, etc.) To say "it's a strong job market" is a glass half full statement at best.
It should be shrinking, but it's not. We should expect to feel some economic discomfort while trying to ease inflation. In that context, it's a strong job market right now.
It was particularly funny that the article describing the job market as being strong came out today as February numbers were just released. The OP could have timed his lament a little better.
1
Posted on 4/2/24 at 11:55 pm to stuckintexas
quote:
electrical business. Basic math, science, and reading comprehension
JFC, in electrical, that's no bueno. I only have basic electrical, but I was able to explain to fourth graders how you couldn't conduct electricity without a connection to ground in a lab.
Especially when dealing with potential death (electricity), you have to know where there is a potential for danger. Stop, ask questions. I got knocked unconscious by an incoming POTS call when I was installing DSL with damp feet. I've had "balls" of electricity shot at me out of a transformer overseas. You should not want to die, and you should learn enough to at least accomplish that mission.
I'd rather run cable than deal with the assholes I deal now that listen to nothing the customer says, honestly.
Posted on 4/3/24 at 12:12 am to LemmyLives
Month in and month out the two top segments of the labor market doing the hiring are government and healthcare.
The rest is pretty mediocre.
And that is ignoring the fact the monthly numbers are always revised down the following month.
The rest is pretty mediocre.
And that is ignoring the fact the monthly numbers are always revised down the following month.
Posted on 4/3/24 at 12:57 am to SlowFlowPro
quote:
Millennials had Covid AND the 2009 crash to deal with.
Gen Z needs another major economic meltdown (That somehow doesn't affect Millennials) to compete
I hope you're not serious, but it sounds like you are.
Woe is me ... who does not contend with the military draft, world war, a great depression, a decade of stagflation, 18% home loan interest rates, or equivalent income at a fraction of today's median number.
Goodness.
"We'll see if they have it worse than millennials? Really? Those would be the same millennials who did not take advantage of historically low interest rates to buy a home? You're referring to millennials who preferred $4 cups of coffee, running weekly bar tabs, eating out, and driving a hot car, to savings, capitalist ethos, and 'boring' family life?
Out of the 15-20 past and present American "generations," exactly how many would you expect could commiserate with you about the terrible burden and misfortune of gen-y, the millennials? Ponder that.
Posted on 4/3/24 at 1:14 am to NC_Tigah
Nah this generation has plenty of opportunity.
Get a trade job right out of high school. Learn it make six figures. No debt.
Move to the mid-west where life is affordable.
Go out to eat once a week invest 10% of your income. Easy street.
Get a trade job right out of high school. Learn it make six figures. No debt.
Move to the mid-west where life is affordable.
Go out to eat once a week invest 10% of your income. Easy street.
Posted on 4/3/24 at 1:18 am to SlowFlowPro
quote:
We'll see if they have it worse than millennials.
Millennials had Covid AND the 2009 crash to deal with.
Gen Z needs another major economic meltdown (That somehow doesn't affect Millennials) to compete
I'm tail end of Gen X. Easy time to be successful.
Because of Iraq and Afghanistan clusterfricks the military was recruiting almost anyone and pay and benefits increased. I enlisted despite a criminal record, did ROTC after my enlistment, Army paid for my masters.
Bought a house in 2007 refinanced in 2011 to a 3.5% 15 year mortgage. Sold and cashed that out later. Bought current house with 0% down (thanks VA loan) at 2.6%.
Invested at least 10% of everything I've made since I turned 20. Returns have been amazing.
Americans are mostly just lazy and entitled. Go to Dallas sometime check out the Kenyan or Indian communities. All thriving. High rates of military service and advanced degrees. Tons of retirement savings. The American Dream.
Suburb dwellars just don't want to sacrifice anymore and treat college like an entitlement for a good time not a business decision.
Posted on 4/3/24 at 5:05 am to Florida_Man1981
quote:My comments address Gen-Y concerns rather than the OP's Gen-Z.
Nah this generation has plenty of opportunity.
You're right though. The OP contends there are currently no jobs available for 20y/o's. On the surface, that just doesn't ring true. There are "Help Wanted" signs at nearly every fast-food location, Walmart, etc.
But perhaps there is more nuance involved, E.g., d/t a combination of AI and the economy, non-collegiate tech (programming) entry positions, which were abundant, have dried up somewhat.
Also, IMO, the status of unemployment and the economy is being overstated. If so, and if the Fed uses overheated numbers, the irony is it would delay rate cuts which could provide an economic boost for Potatobrain&Co
Posted on 4/3/24 at 5:10 am to WildTchoupitoulas
quote:
It was particularly funny that the article describing the job market as being strong came out today as February numbers were just released. The OP could have timed his lament a little better.
quote:
the Philly Fed, found that the BLS had overstated payrolls in 2022 by 1.1 million, here we go again, only this time the BLS had overstated payrolls by 800,000 through Dec 2023 (and more if one were to extend the data series into 2024). It's truly statistically remarkable how every time the data error is in favor of a stronger, if fake, economy.
Posted on 4/3/24 at 5:34 am to Trevaylin
quote:
I have two grandsons aged 20 who are trying to get started in their work life and go out daily looking for work. There is none.
I say this as the father of a 20 year old son trying to get into med school, I feel your pain. HVAC, electrical, plumbing, the trades. There are jobs out there that will lead to a good living. The biggest issue is the lack of affordability in housing. We may have to go back to the days where we buy 10 acres, then let our sons build on an acre within that. Sucks for our kids, for sure.
Posted on 4/3/24 at 6:31 am to keakar
quote:
thats not possible since biden said we have the lowest unemployment and the best economy we have ever had before in history since he took office
there is no way biden would lie about that
Perish the thought
Posted on 4/3/24 at 6:34 am to NashvilleTider
quote:
The cost of college is just laughable
You can thank government issued student loans for that.
Posted on 4/3/24 at 8:47 am to UncleFestersLegs
Oh good. So you're saying the economy's doing so badly that the Fed is about to cut the Federal Funds rate soon? Do you think they're moving up their schedule to bring the rate back down?
Posted on 4/3/24 at 8:49 am to NC_Tigah
quote:
Woe is me
Not me. I was lucky to have this board to shield me somewhat from the 2009 crash.
I'm taking big numbers for a big population, not idiosyncratic and personal sob stories.
Posted on 4/3/24 at 8:55 am to NashvilleTider
quote:
The cost of college is just laughable - these kids leave school with debt they will never be able to pay back.
The cost of college can be exorbitant, or it can be affordable. Most outrageous college expenses are due to room, board, out-of-state tuition or private school tuition.
In Louisiana, virtually everyone lives within commuting distance of a four-year university and multiple two-year colleges. The “laughable” costs are mostly by choice.
Posted on 4/3/24 at 9:01 am to Trevaylin
quote:
have two grandsons aged 20 who are trying to get started in their work life and go out daily looking for work. There is none.
There's a lot of job opportunities all around here in the Triad area of NC.
Maybe either people don't really look for jobs or they think they're too good for that job. Or you live in a small town where there's not many jobs to begin with maybe??
I'm definitely not white knighting this shite administration. And we all know the job market does suck, but jobs are out there. We look at jobs online periodically.
This post was edited on 4/3/24 at 9:04 am
Posted on 4/3/24 at 9:03 am to Trevaylin
They say there are tons of job openings. Have you looked at the pay? Take a look and have a laugh.
https://www.indeed.com/
https://www.indeed.com/
This post was edited on 4/3/24 at 9:04 am
Posted on 4/3/24 at 9:06 am to wheelr
quote:
Take a look and have a laugh.
I don’t get it.
Posted on 4/3/24 at 9:15 am to udtiger
quote:
You can thank government issued student loans for that.
And parents for letting kids get useless degrees
Posted on 4/3/24 at 9:16 am to SlowFlowPro
quote:You should regard "me" as a generic, in line with the rest of the post. I don't like generalizations, but Gen-Y's claiming life is generally harder for them than for past (or future) US generations represents a comedic separation from reality..
Not me.
Posted on 4/3/24 at 9:23 am to Trevaylin
There’s a backlash coming, you can see it in the jr. High age students compared to the 16 and up kids. They’re total opposites.
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