Politics

10181 readers

161 users here now

In-depth political discussion from around the world; if it's a political happening, you can post it here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

Subcommunities on Beehaw:

Socialism

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

[email protected]

Nearly 3 in 5 incorrectly believe US is in economic recession (fox59.com)

submitted 5 months ago by [email protected] to c/[email protected]

42 comments fedilink hide all child comments

Fascinating little window

Almost 60% of respondents wrongly believe that the country is in a recession (it hasn’t been since 2020)
55% believe the economy is shrinking (it is growing)
49% say unemployment is at a 50-year high (it’s close to a 50-year low)
58% said the reason the economy is worsening is due to Biden’s mismanagement

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 13 points 5 months ago (4 children)

Question, why are we linking fox 59, when the hill has the same article word for word?

Second, why are we being told we are wrong? By what metric are we incorrectly measuring?

Forty-nine percent of respondents say unemployment is at a 50-year high, though it’s actually close to a 50-year low at less than 4 percent.

Please stop pretending that just because people are employed that they are not working harder then ever before to stay afloat. It is disingenuous at best.

The NBER said the most recent recession coincided with the start of the COVID-19 pandemic, and the U.S. hasn’t been in one since.

Getting out of a recession does not mean people did not have to make hard choices with their finances during that time.

Just because we are pulling out of the Covid craze, does not mean that the average household has rebounded.

People had to uproot their lives and won't feel the effect of good policy until well down the line.

[–] [email protected] 8 points 5 months ago* (last edited 5 months ago) (2 children)

Worth adding that “unemployment” in this context just means people who are claiming unemployment benefits, a things that runs out, and when they run out, they no longer are counted by it.

Also difficult to claim unemployment if you lose a gig economy job. So many people who lost their “job” doing something like uber eats are not represented.

A better metric is workforce participation rate which is at an all time low. There are a lot of factors to that, including a higher rate of retirement, but that alone does not account for the record low number.

[–] [email protected] 2 points 5 months ago

Worth adding that “unemployment” in this context just means people who are claiming unemployment benefits, a things that runs out, and when they run out, they no longer are counted by it.

✋ This is where I've been for the past year and a half.

load more comments (1 replies)

load more comments (2 replies)