Unemployment is a myth.
The highly publicized “unemployment rate” is a 50 year old yardstick with the numbers sand-blasted all the way off, and we are using it to gather intelligence that affects public policy?
In the information economy, what use is it to measure how many people are dead weight?
Before, when the only way a person worked was on a factory assembly line, and their only hope for income was continued clocking-in and widget-making, to measure the economy by unemployment made sense.
Now, a $25 webcam, hours of practice, and a free YouTube account is all that stands between you and an income. Or a $15 used power saw and an etsy shop to sell hand-made crafts made from used (free) pallets. In 25 minutes you can take what you are already good at, and make $1 doing it.
I get it (I’ve been there), there’s still no quick way (other than getting a job) to a reliable paycheck. To say that I’ve oversimplified making money online is itself an understatement.
But my point remains. Why are we measuring the health of the economy using a 50 year old broken yard stick?
Because there’s no better way to measure it, and the news cycle depends on reporting to make their money. So they have to say something.
Do we have to listen?
Please, do yourself a favor and filter everything you hear about the unemployment rate through the lens of “is this helpful?”
Using a broken yardstick to manufacture fake handwringing about an overblown non-problem doesn’t fix anything.
Worse, the handwringers are not actually concerned with fixing the problem. They’re likely more concerned with the number of pageviews they can muster in favor of the problem, or how many votes it’ll pick up to promise to fix the problem, or how they can spin the numbers to indicate that the have fixed the problem.
But that doesn’t mean I have to participate. I choose to be a part of the solution. I’m going to put in the hours of work to make the money to create some jobs (by hiring others to help me).
My current project? ChurchWebHelp.com
Tell a friend. Save the economy.