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Jobless Claims Don’t Want To Hear Your Recession Narrative
Jobless claims: They're low in the US. And that's an understatement.
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My daughter and her husband were both laid off three years ago when their respective firms were bought and mothballed. Neither of them filed for unemployment. First, they both got some severance. But they both told me that filing meant dealing with the demands of the unemployment agencies who would want them to take any job that the agency wanted them to. Both were senior directors and most, if any such jobs were simply not available so they passed. My daughter has finally landed in the only job available in the US that would fit her skills and goals. My SIL has still to strike gold. So my question is how many people get laid off but refuse to file for benefits? 2%? 20%?
I don’t know if this source is authoritative, but supposedly 28MM Americans (16% of civilian workforce) are full-time independents (self-employed as their fulltime job) and that count has doubled since 2020. Another 46MM are part-time and occasional independents. Outside of some special pandemic programs, self-employed can’t file UE claims. https://www.mbopartners.com/state-of-independence/ I wonder how UE claims look as a pct of persons working traditional W2 jobs?
Hassett, “Trump wants an independent Fed”
In other words, “The Great Humungous, Ruler of the Wasteland, wants a free and peaceful wasteland! Just leave the gas for us and we will let you go.” Road Warrior, 1983.