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Cake day: March 17th, 2025

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  • You need to read between the lines on the 4.1% figure and how the fed actually comes to it. If you truly believe that’s an accurate representation of the economy and that 95.9% of people are happily employed in this era I have a bridge to sell you.

    The TRU figure covers a broader range in terms of employment. It accounts for people who are underemployed living on poverty wages as well as unemployed. The feds report only covers people who are unemployed period. There are actually quite a lot of homeless people who are working.

    "The February TRU — a measure of the functionally unemployed, defined as the jobless plus those seeking, but unable to find, full-time employment paying above poverty wages ($25,000 a year in 2024 dollars) after adjusting for inflation — rose from 23.3% to 24.6%. This increase reversed five months of progress for White workers, whose TRU climbed 1.6 percentage points (21.6% to 23.2%). Meanwhile, Hispanic workers saw a slight improvement, dropping from 28.4% to 28.1%, and Black workers experienced a more notable decline, dropping from 27.8% to 26%.

    The increase in the TRU is in sharp contrast to official unemployment data released by the U.S. Bureau of Labor Statistics (BLS), which reported only a 0.1 percentage point increase, to 4.1%. Even the BLS’ broader measure of unemployment, which accounts for underemployed part-time workers, rose by just 0.5 percentage points. While this explains part of the jump in the TRU, it does not capture a key factor: more full-time workers fell below the poverty wage threshold last month."

    Oh look, 24.6%, pretty close to the 25% you mentioned with the great depression.



  • Casteyes@lemmy.worldtoPolitical Memes@lemmy.worlddemocrats got this
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    1 day ago

    The problem is the system has been around for a long time and what we’ve seen is a huge wealth transfer that has made the rich richer and is currently eroding the middle class.

    “As of 2023, the top 1% of households in the U.S. hold approximately 32% of the total wealth. In contrast, the bottom 90% of households collectively hold about 22% of the total wealth.”

    We’ve now reached the point of late stage capitalism/oligarchy and if the system doesn’t change the wealth disparity will continue to grow.

    There is already massive suffering. homelessness is spiraling out of control and a huge amount of Americans are living paycheck to paycheck barely surviving.

    So I’d argue the alternative is starting to look quite attractive.


  • Casteyes@lemmy.worldtoPolitical Memes@lemmy.worlddemocrats got this
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    2 days ago

    I’ve said it once and I’ll say it again … a large portion of the current democratic party is rich. The DNC serves corporations not the people. They are controlled opposition. They will keep the status quo as long as they get to continue living their cushy lifestyle. The whole system is corrupt and that includes the DNC, they won’t be saving us.