As I’ve been looking into the current US economy and them covering up/lying about recession, I keep seeing liberals saying one thing over and over- that our labor market is very healthy. Is that just another way to say unemployment? This comes across as capitalist speak for, we love how many people are working multiple jobs, “people are getting back to work” etc. Hannity on Fox News was recently ranting about how people should be willing to work “70, 80, even 90 hours a week” during a recession. Classical economics spend so much time bullshitting and using language that sounds better than the truth.
In certain sectors of the economy it’s possible for a worker to get multiple job offerings and significantly raise his salary. For the lower income segment of the population, the job market is always bad.
Because unemployment is quite low in the US, you can make the case that the job market is strong from that perspective. This is merely a phase though because capitalism is unstable, so it’s just a matter of time until another recession hits and unemployment sky rockets.
We’re in a recession right now, though.
We’re in the beginning, I fear 2023 will be a really tough year.
Yeah, I’m not ready. 😥