Why You're Thinking About Unemployment Wrong 

well, since you sold out, someone has to do it in your place.

Johnny is VERSATILE

​@@nitishsontakke7432 he dint sell out c'mon

Lmao

Ironically he’s actually taking other people’s jobs.

True. They don't make good sandwiches

Lies again? Dallas Bull S**t

@@whannabi I'm a human and I think I'm way better at making sandwiches than any baguettes I know.

I feel like I want 'Humans aren't baguettes' on a shirt. No explanation. Just the quote.

@@vigilantcosmicpenguin8721 i am a baguette, i disagrees

While that is good I don't believe that is a proper use of that persons time. Government jobs should be tailored more towards what society really needs & free education for certain professions that need upskilling.

How terribly degrading

These people could be spending their time on something productive and meaningful but instead the society is burning money paying these people to waste their time on something useless. Spend that money on education at least.

I was so struck by your story that I am going to tell you a story I heard once. There was once a famous economist who went to China to advise them. One day, while walking with a top Chinese economic administrator along a canal, the economist noticed workers digging the canal using shovels. He asked, "Why do you have these men using shovels instead of bulldozers?" To which the Chinese man said, "My goal here is to create jobs." The economist replied, "Oh, if your goal is to create jobs, why not have them dig with spoons instead?" One lesson you should take away is this...The goal of an economy is not to create jobs, but to create value. You can always find something for someone to do, but what is more difficult, is creating actual value...

Would you rather 20 people have a job where they all give 50% effort or 10 people be over worked and 10 people homeless this liberal propaganda is so ironic they see the problem and eve though the solution is there they are like well just the way the world works

But all of the people saying "unemployment rate" in the intro, Joe Biden is the only person who managed to f it up. 0:13

As I person I disagree with economists generally

Im an economist as well and i wanted to comment exactly the same

@@turtle1701d how come, what in specific? There are many different philosophies within economics. I can understand that a lot of people see economists as the bad guys, especially when recessions occur but the economists jobs in general are to limit these recessions. I feel like a lot of people confuse economists with bankers and other jobs where the stigma is that they only care for their own money while if anything they study how most people will prosper in a world of limited goods and unlimited wants. The field of economics is really broad and there are so many fields within like development economics which studies for example how to create an environment for low income individuals to escape poverty traps by for example providing them with capital or information and studying what actually helps and what doesn’t.

You guys got your degree at Milton Friedman University? In Europe we learn a whole bunch of explanations on how economies work and this is just one of many.

Yep, even jobs are looking for overqualified people for "entry-level" jobs. I'm trying to find a job in IT, such as helpdesk, and most of their requirements are 2+ years of experience w/ BS in CS. Additional requirements would normally list coding languages, or other IT skills beyond a "helpdesk" position. Jobs trying to pay minimum/low wages for a software/network engineers under the title of "helpdesk technician".

@@soulknight89 Even with a BS i had to leave that awful, overrated field

I got a BS in Civil (structural track), tried to get a structures related job and had no chance. They wanted a masters. So, I got a masters the next year and literally had a job the day I graduated. I felt really lucky there, but I suddenly had what they wanted. Now I have my PE and have to fight off the recruiters and direct offers. It's a really weird situation to be in.

You have to ignore ignorant people. If you're college educated used to making $80k-$100k per year you'd be doing society a disservice going into food service making a fraction of what you could make in a much higher value-add job. Not to mention, if you tie yourself down to a minimum pay job then you're spending less time looking for a job that better fits your skills.

Its so frustrating when companies say they're hiring but aren't actually hiring anyone. And the hiring process can take so long when you're frantically trying get a job when bills are due.

你怎么会普通话？

@@andrelamotte9002 I'm guessing that they learnt it from their parents who were born in another country.

@@matthewtieu7051 20

​@@andrelamotte9002 Duolingo

Looks like Nevada needs pharmacists. Lol. Good luck on your new job!

Hello 👋 Samantha. How are you doing? Hope you are fine. I'm Mark Clifford and am from Denver Colorado, where are you from? You seem like a real country girl

At the very least, there's a lag between a need and being able to find enough people to fill that need. if the need is really simple then it won't pay much. if the need is really hard then people will need YEARS of training to be qualified. and well, if that need is a fad/flash/fizzle then the people retraining get left in the cold.

that's why slavery is so efficient and why African-American areas in the U.S. have double the level of unemployment. Slaves are not employed. SAme with native indigenous reservations - even more "unemployed." Go FREE market! Pillage and plunder="they gave no resistance" Columbus quote=free market.

Reread your textbooks, redo your assignments, keep practicing your skills. I wish I done it sooner.

Im in the exact same boat. i have a bachelors and masters graduated right before the pandemic and been unlucky since. its been really hard, quite a unique situation because so many cannot relate. youre not alone!

In which field you got ur degrees

I think we need to stop telling people to make their passions their professions. Follow an economically viable career path. Pursue your passions on the side.

You're not the only one, I'm in the same position too. Graduated in the pandemic and been applying for jobs ever since. Lots of rejections, nothing

🙌🙌 thanks for the generous words!! We’ll keep going!

@@johnnyharris But please do care of your health as well ❣️

@@utkarshagarwal8013 Yes, health is the most important both physical and mental

Aw. This comment is so wholesome.

The lords work, okayyy. God is not personal lol if he exists

Y’all must be new

In my country (Norway), in order to be defined as unemployed you have to not earn any money at all (being 2% employed makes you employed), be registered at the social security office and do all of their things (send a bi weekly report card), and not participate in any of their programs like recieving unemployment benefits. In order to make everyone participate as a lesser part of a percentage EVERYONE being within education participate towards the employed part of the pie. Same goes for retired people that receive pensions and foreign workers that wouldn't count as unemployed in this country if they didn't have a job. That's how they manage to make the unemployment rate here 2.5% while the real numbers are more like 35-50%. Fun stuff, right?

We have data on all that stuff it’s not an enormous portion of the population lmao like you’re talking about permanently disabled people

Capitalism is all about exploitation.

Except on a balance sheet, employees are a "liability" not an "asset"

"I wanna be Ninja".... I love that tune

Yeah so they can justify treating them like shit down the road

@@KaisTestKitchen1 So other than a salary, paid vacation and personal time, 401k, and health insurance just what exactly are they supposed to do to worship they're employees like they're irreplaceable Gods??

it is painful to watch how people have been stuck within this limbo of shaman Keynesian economists on the one side and Marxists on the other. None of them can't explain the economic cycle as part of general economic theory which was done by Mises and the Austrian economic school a long time ago. Keysnisans silent because Austrians are exposing their incompetence, Keynes himself was a friend of Friedrich Hayek so he knew that he was wrong but decided to be rich instead of being right (scientific), and Marxists historically ignored Mises because they don't have any reasonable arguments against austrians critics of socialist doctrine. The truth is such a thing as a free market never existed in reality, it is just a mark on a compass by which we define how an economy of a certain country is controlled either by laws of supply and demand or by the political interests of those who are in power. If you are in power you need something to justify your intervention in the economy and "unemployment" was historically the best option in order to fool the public in thought that the government knows better how to allocate resources. The inevitable outcome of this is the resources will be allocated to the pockets of those who are in power. It is a truly vicious cycle of capitalism, government distorts markets using vast tools they are possessing. The crisis happens, the public blames it on the market (capitalism), not the government, then preachers of socialism start to pop out everywhere and make inequality deeper and scarier. It is the history of 20 century, all progress was made because we still have relatively free prices and wages. If you want to know how things really are read "Theory and History" and "The Theory of Money and Credit" written by Mises. If you want specifics - read "America's Great Depression" Rothbard. Don't read biased Wikipedia on this matter, read sources by yourself and think for yourself. This system is rigged for sure but you have a right to know what are the most eligible critics of it. Please try not to fall into the Marxist trap so easily. Our universities failed us, we are on our own here. Don't listen the "experts" like Harris that only supports mainstream narrative, the way to truth is hard and you need to commit into reading many thousands of written pages not just 15 minutes video.

​@@MitchNeverhood no one has the time to read thousands of pages each time their learn a new subject. It needs to be synthesized and unfortunately you lose a lot of information in the process. That's how It is.

Agreed

@@whannabistrange position, you either learn about the thing you interracting with everyday or letting people around you decide for you what is the truth. I'm sure that economy is worth topic to learn deeply because all our lives is depending on it, because if you don't learn you will be manipulated by everybody around you and especially by the government. The fact that you don't have time to read thousands of pages is direct consequence of your approach in life. I'm not a native speaker and writing little bit in comments is my way to practice english language, sorry if I failed to deliver my thoughts on this topic

@@MitchNeverhood wait, what? I'm with you up until "socialists make inequality deeper and scarier"? Who or what are you referring to? Allowing the peasants crumbs to eat deepends inequality?

They make it sound complicated to fool you to work for a minimum wage. It's always been a rich versus poor struggle.

I'm in a very similar situation right now, minus the relocation part. Best of luck to you

Yeah. I don't know what to do-I got laid off last fall and there's just nothing. Places that want a move seem to be to even more expensive spots to live, which hurts when they're not willing to shell out the pay to match it. And there's just...nothing. I can't even get responses on freelance work most of the time, much less full-time jobs I apply to. I've looked outside my field and get ignored even more. I just feel like a burden and wish I didn't exist.

​@@stefthepef stay there buddy .Don't give up yet

@@stefthepef I definitely understand. I just applied for a job and it turned out to be a scam. I'm looking outside of my field too, but it's difficult to find anything - jobs to apply to and for any of them to find enough interest to get back to me. I wish everyone looking for a new job the best of luck ♥

Whats your degree?

@Zaydan Alfariz no. Just a high-quality private liberal arts university in our area.

I had the opposite experience. Just got my degree a month ago, uploaded my resume to indeed and had a ton of companies reach out. Got a job within a weeks time with zero work experience in my field. Companies across all industries are looking for work, and you can easily find a great paying job that might not be exactly what you went to school for. Most people I know work in a field completely different than what they went to school for. I hope your daughter finds a great job soon ! Good luck to her

​@@elfrjzwhat's your point, man?

Liberal arts says it all. Change that to engineering an she would be hired straight from school.

I guess being vaguely “talented” doesn’t matter as much as being able to do a specific job that fills the need in these companies hiring

Please, what do you mean by trade?

💯

I agreed with you it’s a Very important topic for all of us to talk about

Unfortunately, that would mean people have to stop bickering and stop pretending everyone is the same/equal. The woman haters would have to admit women are undervalued for their labor and the man haters will have to admit being a stay at home mother/wife is important and the egalitarians will have to admit that there are general differences between sexes

@@Cellocurve Or you know, we could let me into the home? My male partner would love to be a stay at home dad, why is that so insane? We will probably both be required to work forever due to this era we're in but I know that would be a dream for him. I do agree we need to start valuing unpaid labor like parenting or keeping the home though. I think we need to make sure all people can be comfortable on one income regardless of their situation and that just isn't a reality right now.

First time I heard about this take said and explained this way. And now I can't ever unsee or unheard it. This is soo true. I would absolutely love to read more study on this.

Unemployed means you are looking for a paid job. This is why the unemployment number can also be misleading. Those that stop looking for work, but would work if given a job do not account into the unemployment rate, at least in the US.

@@KhanJoltrane Yes. I am not included in that number on the news. But there are a lot of forms that have two boxes and you have to check one: employed or unemployed. And obviously, I am not employed by a company. I really appreciated Johnny acknowledging that my category exists.

Gods work

If you’re unpaid how do you pay your bills?

@@mrsmith1097 I'm married. I'm one of those parents Johnny talked about. Somebody has to take care of the kids. Either both parents make enough money (or are desperate enough) to pay caregivers or they have to do the caregiving themselves. I'm a novelist and craftsperson, so I'm the caregiver. I'd have to get a job paying at least $20k in order for my family to break even in childcare costs, and unfortunately my skills aren't considered valuable enough (and service work doesn't cover that much). I contribute economically to my household by saving us money. And I'm not alone. Hundreds and thousands of parents (largely women) left their jobs during the pandemic because of the cost of childcare. Their families make more money on one income instead of two.

I went through a technical program and was wrongfully let go, I have also had a CDL and was done the same way… there is a problem with companies doing that to good people and then wonder why they don’t want to work or have issues finding work. Because they trashed their resume so it ends up looking like shit and then get rejected. But that’s my opinion.

Technical program and got a job after and was let go from that job sorry got ahead of myself lol

Not only that but some people even given the proper resources just aren't actually capable of doing some higher tier jobs. I'm not a hardcore equations and maths kinda guy, so engineering, definitely not a good fit. But this ripples through the entire economy and job system. In the same way that someone in a wheel chair would be a bad fit for moving furniture, other people will never be capable of higher tier jobs.

"nonsense, only the rich deserve higher education, the poor can decide whether they wanna flip burgers, or eat them in prison" - reagonomics

@@alecshockowitz8385 exactly, plus. It everyone wants those types of jobs. Better pay almost always= more stress and more liability. Some people don’t think it’s worth it to kill yourself for a job and to make your job less stable because you have more liability and are going to be the first to get fired in layoffs .

Coder's are the ones not getting jobs😂😂😂😂

@@darkranger116 which is a really just boomer entitlement at it's finest. if you make it so people can't win, people will STOP PLAYING. like mad max and French revolution sort of stop playing.

The problem is alot of us youths are gainfully employed (or still in school paying thousands to gain the education to have that gainful job), we just can't afford to get out of our parents houses because of costs. Trust that we don't want to be here either. It's not my choice, it's unavoidable. (Edited grammar)

I just want practical skills to live off the land like my ancestors. I don’t like the modern world

​@@kelseylabelle7885 our parents and grandparents sold out the country to corporations and now they want to complain that kids have to live at home due to the economy? No you made this bed, I was just born into it

A lot of young people are employed, it's just difficult to live elsewhere other than your parents with the lower income streams and decreased opportunities available for young people. Rent is very high in cities where there is more employment opportunities. I'm on a salary and living out of home in a major city but it took a long time to get here. Study is necessary for better employment but while studying it's hard find work that will hire you. A lot of places demand full availability as well. I was hunting throughout my bachelor degree and couldn't find a single flexible job until I reached my masters degree.

I hope I'm not this out of touch when I'm older. That said, like most millennials, I'll likely be homeless at 60.

no dude

🤭

He looks like hippie to me

But why is his hair short in the ad section??

Jujur ngakak lmao

Smart! Same here. I didn't love biotech, but I knew there were less folks and more opportunities. I grew up in poverty and wanted a stable high income. Now at 28 i earn $112k+, fully remote, and hardly work 30hrs/week. I am the youngest person there but my hard and soft skills pulled me up and I can handle and even manage other people. Supply and demand.

Same, went to college for Economics & Stats, ended up with a job as a fleet manager straight out of school. Another thing about supply chain is that products will ALWAYS need to moved, like every company needs some sort of transportation. Hoping to parlay the two skills and snag a Supply Chain Analyst type job.

@@ChicagoShnozzlers It seems only sales and supply chains are secure jobs, and that's wrong. We need to make sure that other folks in various professions do not struggle. Not everyone wants to be part of the Supply Chain labor force or real estate agent.

supply chain type of jobs and lots of economy/finance/analytics jobs could be impacted by artificial intelligence, it seems like something that the new artificial intelligence can handle

Anyone watching, ignore most of the video lol. You can't talk about the macroeconomics of unemployment without talking about its very close cousin, laws and regulations. In an economy sure there are multiple private businesses, but the concept of monopolies, duopolies, monopsonies, duopsonies, and multiple laborers also exist. For example with the baguette example, that store could be the only baguette game in town and the owner realizing this will increase prices not because of the invisible hand of the market, but because he knows people don't have options. And that store could practice anti-competitive behaviors to prevent others from creating a market. So what happens is that prices increase or decrease, unemployment, and financial crises also happen because we just allowed it to happen with hindsight being 20/20.

Liiiiiiterally. We are so screwed here lmao.

And I don’t think loadshedding helps… Boy what a country

South Africa is in a unique situation. I found the cost of living to be just as much as any Indian city and the wages are higher

@@jigmed1 are you sure? Compare cost of living between Mumbai, Delhi and Cape town, Durban

@@jigmed1 which wages are higher? Indian wages?

Just imagine if each one his millions of subs gave a little bit, too….😊

​@@lisajean228 and thats economy ppl

Every little bit helps 😇

aww tears so sweet!!

I mean it's really not much but at least you are somewhat better than others

Also unemployed, wish I had a job but I'm not forcing myself to work somewhere I know I'll end up worse at in the end

​@@SlartiBartfast2469 so you want a job, but don't really wanna find it? Solution - Call a consultancy than to find job for you, they will charge your employer

@chadzues2605 actively looking but only in job sectors that interest me , not the hell that's retail , and yea I recently signed up to a few programs that are looking for me , hopefully I get an interview soon as a couple of opportunities have presented themselves

You been asleep for a few years? You're supposed to be proud of it now.

That's not a flex, homie. You should at least be a little ashamed.

Wow! Comments like these are so appreciated. Thanks for sharing such kind words.

It's as addictive as hearing some gossip! The way express the info, feels like a very close conversation between old friends, love it!

yep, i think you are doing an excellent job Johnny, kudos!, and for that i would like to ask you if you could talk about productivity, as every time it is discussed in the media, it seems that it is implicit related to the number of hours a person works or some kind of "social behavior" issue. At least, this is how a large part of the population in developing countries, such as mine, perceive it, even with the OECD indicators showing that most people work more hours than average. It would be interesting if you could delve into this and understand the reasons behind it, as well as who should get accountable for this and responsible to be pushing for improvement.

@@johnnyharris I love your videos and watch all of them...I just have to say, please do a video on what capitalism really is. HOWEVER - In this video, you blame capitalism for the problems caused by socialism. Central banks move interest rates which take the power out of the market and give it to select people conducting the biggest insider trading scheme in history. Ironically, you talk about the government increasing liquidity by injecting $2 Trillion worth of tax payer money to help unemployment.... that is the opposite of capitalism, again. Maybe everybody should be in control of the market instead of just a few. If you want to criticize capitalism, at least talk about what it really is and what is wrong with it.

@Zaydan Alfariz In your statement, if you remove the last sentence, you get the former countries or western countries primarily. When you add the last statement, it then adds countries that are asian or more specifically south asian, where educators are not treated any differently than labor workers.

I think teaching is dying or almost dead. Thanks to AI. Unless you're teaching AI...

How is having a part time job being "over worked"??

@@FirestormX9 Given the state the UK is in with respect to teachers, I would disagree. Also, the culture we’re raised with (of course with exceptions) has been misogynistic and looked down upon teaching and teachers.

@@mlake4725 AI is still in a fledgling state. It is not capable to undertake every task yet.

it is painful to watch how people have been stuck within this limbo of shaman Keynesian economists on the one side and Marxists on the other. None of them can't explain the economic cycle as part of general economic theory which was done by Mises and the Austrian economic school a long time ago. Keysnisans silent because Austrians are exposing their incompetence, Keynes himself was a friend of Friedrich Hayek so he knew that he was wrong but decided to be rich instead of being right (scientific), and Marxists historically ignored Mises because they don't have any reasonable arguments against austrians critics of socialist doctrine. The truth is such a thing as a free market never existed in reality, it is just a mark on a compass by which we define how an economy of a certain country is controlled either by laws of supply and demand or by the political interests of those who are in power. If you are in power you need something to justify your intervention in the economy and "unemployment" was historically the best option in order to fool the public in thought that the government knows better how to allocate resources. The inevitable outcome of this is the resources will be allocated to the pockets of those who are in power. It is a truly vicious cycle of capitalism, government distorts markets using vast tools they are possessing. The crisis happens, the public blames it on the market (capitalism), not the government, then preachers of socialism start to pop out everywhere and make inequality deeper and scarier. It is the history of 20 century, all progress was made because we still have relatively free prices and wages. If you want to know how things really are read "Theory and History" and "The Theory of Money and Credit" written by Mises. If you want specifics - read "America's Great Depression" Rothbard. Don't read biased Wikipedia on this matter, read sources by yourself and think for yourself. This system is rigged for sure but you have a right to know what are the most eligible critics of it. Please try not to fall into the Marxist trap so easily. Our universities failed us, we are on our own here. Don't listen the "experts" like Harris that only supports mainstream narrative, the way to truth is hard and you need to commit into reading many thousands of written pages not just 15 minutes video.

​@@MitchNeverhood I don't think I have ever read so much bullshit in one comment. You just pretend you're opinion are fact but it is not.

@@martinnoro2098 sry, english is not my native language and I'm probably sound too confindent, I'm open to discussion, I'll appreciate if you may spent little bit of time and explain to me what do you mean exactly when you accusing me of bulshitting you

Can confirm. Baguettes in Germany are amazingly cheap 😍

That's because they are government subsidized! Via flour and directly as a product. That's why other types of bread are costlier

Hope you like Germany! From a fellow German :)

Congrats

In the bay area they can go for like 4-5 dollars 🥹

100% this

Not only that, but even many supposed "entry-level" jobs seek people with experience, which thus creates the "chicken and egg" problem - you need a job to gain experience, but to get any job, you need experience.

basically it's like a procurement tendering process. lowest bidder has a higher chance to win.

Aww man I hope it works out.... I've been working since I was 15, I'm 40 today, even through college I've held a job

Same here, hope you find one soon!

Same here ! Been looking since August 2022 in Paris.. I m still going through interviews and getting rejected but I'm not giving up anytime soon.

I’m in the United States have been laid off since October and still looking, don’t lose hope, we are all in this together!

Well thufferin thuckertash

@@crazyprayingmantis5596 That took me a second. My 9-year-old brain had to make some new connections to my more recent joy of reading.

@@kindlin ☺️

I thought the same thing! I'm not one myself but have super high respect for the profession

@@elfrjz you guys could replace those machines but it would wipe out millions of jobs for the lower and lower-middle class. And for uneducated workers.

Different experience for me. I literally had 100+ companies reach out to me after uploading my resume to Indeed. It was extremely easy to find a job in less than a week, and I just got my degree one month ago with zero work experience in my field. A ton of places across every industry are looking for work.

@@elfrjz nah I'm not that smart lol

The real unemployment number is much HIGHER than we are lead to believe. Remember, the U.S government is a corporation which has the best public relations (propaganda) in the world at this point. The federal, states, cities, local municipalities, businesses, students, and the average citizen is in the DEBT yet we convinced the world that we’re the “richest.”

@@thinkbeforeyoutype7106 Happens when you have so many tropical ethnic groups. People are tired of freedom they want security and prosperity. Western Europas degenerate will not be permitted to Ukraine.🇷🇺🇷🇺🇷🇺🇷🇺

college is not a job offer nor job training. it is mostly indoctrination and textbook knowledge. basically a scam. yes I am college educated and benefitting from it due to the license I got from the degree but 100% of this job is what I could have learned on the job. college was not required. just a scam to make money for these institutions

u gave me deep depression :"(

@@cl00x3r Why? learning new things is cool, it keeps you busy and you can discover many new possibilities and it keeps your mind healthy as well :)

​@@scarletdragon1019 my friend that is indeed true but not for all people ,when you think of it as something you have to do it and keep doing it starts to not sound as great

Anyone watching, ignore most of the video lol. You can't talk about the macroeconomics of unemployment without talking about its very close cousin, laws and regulations. In an economy sure there are multiple private businesses, but the concept of monopolies, duopolies, monopsonies, duopsonies, and multiple laborers also exist. For example with the baguette example, that store could be the only baguette game in town and the owner realizing this will increase prices not because of the invisible hand of the market, but because he knows people don't have options. And that store could practice anti-competitive behaviors to prevent others from creating a market. So what happens is that prices increase or decrease, unemployment, and financial crises also happen because we just allowed it to happen with hindsight being 20/20.

I had it as Politics/Economics in 11th grade in 2002 and there was not a lot of interest in it and the teacher was horrible. I would not be surprised to find it had been removed from curriculum during "No Child Left Behind". Capitalism does work on a cycle, that is one of the first things shown in Macro if people move on to college (2004 qualifier, taking Econ101 qualifier).

I wonder how you determine who much government should pay a company to keep people. How do you keep companies honest and not have them say they were going to sack more people to get more funding?

The FEDs dual mandate (as stupid as it actually is) is not this. It's to keep price stability and low unemployment. One of the mandates has nothing to do (at least not directly) with unemployment and the other one is the exact opposite of what you said. Don't get me wrong. The FED is at best incompetent and at worst actually evil, but it doesn't work like you claim.

As an unemployed and cannot afford patreon, thanks for supporting johnny for us to see these worthwatching johnny contents.

@@cloverleaf3996 - Happy to be paying it forward 🙂

Especially when you live under an unfettered capitalist system.

Top tier comment

I'm done giving 100% for companies. They have kicked me to the curb while execs posted record bonuses