Unemployment is at such a low, low number.
This is great news!
But, as my PhD in Economics uncle once said while bragging, 'The economy is doing great! More people are back to work and off unemployment lines.'
To which my Mom replied to her brother, 'That is great news! Now, if only they had found equal work to what they were doing before they were laid off!'
Such is the case today.
Unemployment is down. Workers have run the fixed time that they can collect unemployment. (Which is six months.)
But, have those people truly found work?
OR, did their unemployment time just run out on them. And, since they are no longer collecting unemployment checks, have they truly found a job?
You see, historically once your unemployment runs it's course, the government considers you have have been re-employed -- whether you truly are or not.
But, in truth, most probably did find a new job. They probably did become re-employed.
But, that new job most probably came with a drastic pay cut.
To go from earning $40,000 per year to earning $16,000 may be considered re-employment, but that doesn't cover the bills.
If these former unemployment collecting workers did find work, it was that they had to settle for a job that pays much, much less then what they were earning.
That's IF they actually did find work!
So, until I see a more comprehensive study on this matter, I'll keep my excitement for the re-employed to myself -- for now.
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