Employers add dismal 199,000 jobs in December, unemployment rate hits 3.9%

ABC ^ | January 7, 2022, 9:44 AM | ByCatherine Thorbecke

[EBH]

What I am hearing in my circles is a lot of boomers said the hell with it and retired early.

[Alberta's Child]

The U-3 unemployment rate is commonly misunderstood.

It's not really intended to be an accurate measure of the number of potential workers who can't find jobs. It's designed to serve as an indicator of upward wage pressure. That's why this number -- which doesn't necessarily include casual job-seekers and even UNEMPLOYABLE people -- is the one that is widely reported and is used to set government policy.

[MattMusson]

NOBODY actually knows the total employment number at this point. During Trump Time we were ‘at total employment’ and every month we hade 200K new jobs added right up until the Pandemic.

No one has any idea how many people are sitting on the sidelines who might jump back into the labor pool.

[TECTopcat]

the unemployment rate is measured by how many are actively searching for a job-so the rate can drop or rise regardless of job openings

[Kevmo]

I think legal immigration visa numbers should be tied to the unemployment rate. We allow 1.5 million max into the country, maxed at 1.5% unemployment. For every percentage upward we reduce visa numbers by 100,000.

Unemployment   ---------   immigration visas
1.3%           ---------   1.5 million 
1.4%           ---------   1.5 million 
1.5%           ---------   1.5 million 
1.6%           ---------   1.4 million 
1.7%           ---------   1.3 million 
1.8%           ---------   1.2 million 
.................
 
2.7%           ---------   400 thousand 
2.8%           ---------   300 thousand 
2.9%           ---------   200 thousand 
3.0%           ---------   100 thousand 
3.1%           ---------   zero
3.2%           ---------   zero
3.3%           ---------   zero