alt Hacker NewsAnybody who believes ~30% of the workforce was functionally unemployed in 1999 does not know what those words mean, or was not an adult in 1999.
I get what they are trying to convey, but the stronger message is the more straightforward: there are too many jobs that do not pay enough to live on.
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> there are too many jobs that do not pay enough to live on.
I know this is argued as a reason for high unemployment on the internet, but it does not match my experience in the real world at all. Having a job that pays a little is more income than no job at all. People stuck with low paying jobs often have multiple jobs as a result.
Soo was it more or less than that? Don’t leave us hanging like that!
Can you explain what you're saying? Do you mean that in 1999 fewer people worked low paying jobs?
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For me the true problem which most countries dont even acknowledge is low wealth and capital gains tax. Salaries are not enough because of land prices and the prices inflation it causes through out the economy. You bring down price of home land rent then price of everything else comes down. And their is a lot more economic activity as trillions of dollars are not parked in real estate for wealth generation.