In other words, in order to keep wages down, the managers of the economy use interest rate policy to throw people out of work. With lots of unemployed people, wages stay low, so people need 2 and 3 jobs. As unemployment falls, wages start to nudge up, and the cycle starts again
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Then some business class apologist says look unemployment is low! Things are great! But the Fed will only allow unemployment to stay low if wages stay low. So I deem the assertion that unemployment is low because people are working two jobs awkwardly phrased but absolutely true
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It’s explained in the piece above with
@KateAronoff Just read that.Show this thread -
Also
@AdyBarkan is doing incredible work helping people understand this connectionShow this thread
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I know you like doing clean up for Alexandria. But she claimed everyone has 2nd jobs when only 5% do, and the numbers are down from previous decades. Do you plan on spinning her incoherence on that?
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Oh, only 5 million people are working two jobs? Well then, nothing to see here. Moving along.
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Here’s what you need to remember, when everything exists in percentages, they don’t have to actually concern themselves with actual people’s lives. “Only 5% of people work 2 jobs”, 5% sounds a lot better than 15.5 million people.
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What percentage is “everyone” as she said? 100% You people will blindly accept anything she says no matter how inaccurate.
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I thought you were joking about fact-checking her on “everyone.” So if your friend tells you that “everyone” was at the party last night, are you the guy who says “Well, actually, there are 7 billion people on the planet and...hey, where are you going?” You earned your mute.
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Oh no, Ryan, not that! Anything but that!
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Ryan Grim: Ocasio’s words don’t matter. These guys are like trumpians.
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Someone was peddling a statistic that less than 5% of Americans are working two or more jobs. Which for some reason means that I basically know all of them.
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Blaming Fed for slow wage growth is nonsense. Slow wage growth results from globalization, ai/tech, less union power, demographics.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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@Ocasio2018 kids in families where parents need 2 jobs suffer; who helps w/homework, ever have dinner together....Thanks. Twitter will use this to make your timeline better. UndoUndo
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