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Why You're Thinking About Unemployment Wrong

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Johnny Harris

Johnny Harris

Күн бұрын

WTF is Unemployment?
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Unemployment is a bigger deal than any of us realize. If you dive into the economics of it you’ll see why politicians and news anchors are always freaking out about it. Here’s my best explanation in 15 minutes.
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About:
Johnny Harris is an Emmy-winning independent journalist and contributor to the New York Times. Based in Washington, DC, Harris reports on interesting trends and stories domestically and around the globe, publishing to his audience of over 3.5 million on KZfaq. Harris produced and hosted the twice Emmy-nominated series Borders for Vox Media. His visual style blends motion graphics with cinematic videography to create content that explains complex issues in relatable ways.
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Пікірлер: 3 800
@EconomicsExplained
@EconomicsExplained Жыл бұрын
Johnny Harris is explaining macroeconomics now. It looks like I am about to get a practical lesson in unemployment.
@nitishsontakke7432
@nitishsontakke7432 Жыл бұрын
well, since you sold out, someone has to do it in your place.
@andyc9902
@andyc9902 Жыл бұрын
Johnny is VERSATILE
@andyc9902
@andyc9902 Жыл бұрын
​@@nitishsontakke7432 he dint sell out c'mon
@AntiFurryJihad
@AntiFurryJihad Жыл бұрын
Lmao
@trashcaffeine
@trashcaffeine Жыл бұрын
Ironically he’s actually taking other people’s jobs.
@MiroslawHorbal
@MiroslawHorbal Жыл бұрын
"Humans aren't baguettes" - Johnny Harris That's the hard hitting investigatory journalism I subscribe for
@w花b
@w花b Жыл бұрын
True. They don't make good sandwiches
@NazriB
@NazriB Жыл бұрын
Lies again? Dallas Bull S**t
@vigilantcosmicpenguin8721
@vigilantcosmicpenguin8721 Жыл бұрын
@@w花b I'm a human and I think I'm way better at making sandwiches than any baguettes I know.
@Valeryu_Minka
@Valeryu_Minka Жыл бұрын
I feel like I want 'Humans aren't baguettes' on a shirt. No explanation. Just the quote.
@siliconhawk9293
@siliconhawk9293 Жыл бұрын
@@vigilantcosmicpenguin8721 i am a baguette, i disagrees
@PlayedbyInstinct
@PlayedbyInstinct Жыл бұрын
When I visited Japan and South Korea I was struck by the sheer number of people employed by the government doing seemingly pointless jobs. I saw heavy overemployment in most customer service roles (at museums, railway stations, galleries, etc etc.). People just standing in empty rooms all day, answering a question that could be answered with a simple sign. Or people whose job it was to press the elevator button. It was bizarre to see in action, but I recognised it was a form of social support. I guess it's a good thing
@snowflakemelter7171
@snowflakemelter7171 Жыл бұрын
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.
@stevedavenport1202
@stevedavenport1202 Жыл бұрын
How terribly degrading
@megamaser
@megamaser Жыл бұрын
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.
@Jimraynor45
@Jimraynor45 Жыл бұрын
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...
@onetomeplz5825
@onetomeplz5825 Жыл бұрын
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
@josh.ben.s.3317
@josh.ben.s.3317 Жыл бұрын
As an economist, I appreciate you taking the time to simplify a lot of these concepts that most times we tend to overcomplicate.
@bulbulitobayagbagan9633
@bulbulitobayagbagan9633 Жыл бұрын
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
@turtle1701d
@turtle1701d Жыл бұрын
As I person I disagree with economists generally
@ficodutchrespawn
@ficodutchrespawn Жыл бұрын
Im an economist as well and i wanted to comment exactly the same
@ficodutchrespawn
@ficodutchrespawn Жыл бұрын
@@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.
@ionitaa
@ionitaa Жыл бұрын
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.
@fluffehmonster1164
@fluffehmonster1164 Жыл бұрын
Johnny Harris! You hit me right in the heart for the Underemployment! I left my job as a pharmacist on 2020 and because I couldn't find a new job, I started to work as a Mandarin Tutor to kids! It was difficult to do something that is not in my field, but I enjoyed the journey. But now, I am back to the pharmacist job starting tomorrow! Finally not underemployed anymore!
@andrelamotte9002
@andrelamotte9002 Жыл бұрын
你怎么会普通话?
@matthewtieu7051
@matthewtieu7051 Жыл бұрын
@@andrelamotte9002 I'm guessing that they learnt it from their parents who were born in another country.
@thiernobalde632
@thiernobalde632 Жыл бұрын
@@matthewtieu7051 20
@orkkojit
@orkkojit Жыл бұрын
​@@andrelamotte9002 Duolingo
@TisDana
@TisDana Жыл бұрын
Looks like Nevada needs pharmacists. Lol. Good luck on your new job!
@ThEgamingGINJ
@ThEgamingGINJ Жыл бұрын
Most annoying thing when I was unemployed during covid was hearing people say all these places to me that are hiring like I hadn’t already tried there, plus the amount of job applications submitted compared to jobs is like 1/100 so you have all these overqualified people at minimum wage jobs
@soulknight89
@soulknight89 Жыл бұрын
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".
@thankyou4328
@thankyou4328 Жыл бұрын
@@soulknight89 Even with a BS i had to leave that awful, overrated field
@kindlin
@kindlin Жыл бұрын
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.
@MrSupernova111
@MrSupernova111 Жыл бұрын
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.
@Sayali312
@Sayali312 Жыл бұрын
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.
@jacobl7451
@jacobl7451 Жыл бұрын
whos watching this while unemployed
@RizkiMuhammad-tg2kl
@RizkiMuhammad-tg2kl 2 ай бұрын
😢
@heliousx1
@heliousx1 2 ай бұрын
Me😅
@user-jg9cr9bj8v
@user-jg9cr9bj8v Ай бұрын
Me... I NEED A FULL TIME JOB W INSURANCE..I just got hacked by Uber.
@amNoah6113
@amNoah6113 Ай бұрын
Me 😂 in 2024
@Control_Khaibasen
@Control_Khaibasen 28 күн бұрын
I am watching this while I am currently unemployed. Been that way for like 4 years now.
@proyectocultural4679
@proyectocultural4679 Жыл бұрын
"The vastness of human experience doesn't always coordinate perfectly with the immediate needs of a market." Yessss, Johnny Harris 🙌
@Ezberron
@Ezberron Жыл бұрын
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.
@voidisyinyangvoidisyinyang885
@voidisyinyangvoidisyinyang885 Жыл бұрын
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.
@engwedujesse6975
@engwedujesse6975 Жыл бұрын
This video really hit hard. Graduated with two degrees at the height of the pandemic. Been underemployed since and have failed to secure a job in my profession. What's worse and I don't know if it applies for everyone else, it's been a while since I checked in with what I did at campus and I've begun to forget how to do it. Really don't know how I will fit into an office when I finally get a job, if I get a job.
@zeeenno
@zeeenno Жыл бұрын
Reread your textbooks, redo your assignments, keep practicing your skills. I wish I done it sooner.
@rozeniraz8326
@rozeniraz8326 Жыл бұрын
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!
@619ry7
@619ry7 Жыл бұрын
In which field you got ur degrees
@spendleton360
@spendleton360 Жыл бұрын
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.
@wayway8476
@wayway8476 Жыл бұрын
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
@canibeaninja
@canibeaninja Жыл бұрын
A very successful entrepreneur came to my college and told us this "Companies always refer to people as resource, they always say get more resource.I know Its twisted but its true" This video makes me understand why that came to be. Thank you for the Informative video as always Johnny!
@tobythompson199x
@tobythompson199x Жыл бұрын
Capitalism is all about exploitation.
@scpatl4now
@scpatl4now Жыл бұрын
Except on a balance sheet, employees are a "liability" not an "asset"
@WKRP187
@WKRP187 Жыл бұрын
"I wanna be Ninja".... I love that tune
@KaisTestKitchen1
@KaisTestKitchen1 Жыл бұрын
Yeah so they can justify treating them like shit down the road
@WKRP187
@WKRP187 Жыл бұрын
@@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??
@therchas
@therchas Жыл бұрын
I've also learned that the official unemployment rate doesn't include lots of people who are actively looking for a job, but haven't applied to one in the last 30 days. it also doesn't include all kinds of people due to small little rules.
@newagain9964
@newagain9964 11 ай бұрын
Y’all must be new
@tordlindgren2123
@tordlindgren2123 10 ай бұрын
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?
@dvderek
@dvderek 6 ай бұрын
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
@WheelEstate
@WheelEstate Жыл бұрын
16:31 You hit the nail on the head. That's why I hate when people are like, "Be so good that they can't ignore you, innovate your business, etc." They act like we're in a vacuum and can completely control everything we experience.
@sebastianbacchi6016
@sebastianbacchi6016 Жыл бұрын
Would be interesting if you did one on Brexit, and explaining how that went down and what the situation is looking like today and what it holds for the future. Constantly get asked by colleagues about Brexit and it’s future implications. Love your videos!
@MitchNeverhood
@MitchNeverhood Жыл бұрын
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.
@w花b
@w花b Жыл бұрын
​@@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.
@superchar4592
@superchar4592 Жыл бұрын
Agreed
@MitchNeverhood
@MitchNeverhood Жыл бұрын
@@w花bstrange 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
@OhAwe
@OhAwe Жыл бұрын
@@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?
@liz6702
@liz6702 Жыл бұрын
This video hit home for me. I was laid off partially from the pandemic, and also from the company I worked for changing hands. I wasn't willing to move states away for an incredibly stressful job that I hated. I refuse to go back to a situation where I am continually stressed out at a job that I despise. And now, despite having a degree, I cannot find a job a few years later. I still remain hopeful, but the existential dread is always there in the background. I'm incredibly thankful for my spouse for keeping us afloat. It's a tough "job market" right now.
@flowergirl1984
@flowergirl1984 Жыл бұрын
I'm in a very similar situation right now, minus the relocation part. Best of luck to you
@stefthepef
@stefthepef Жыл бұрын
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.
@rakib17874
@rakib17874 Жыл бұрын
​@@stefthepef stay there buddy .Don't give up yet
@liz6702
@liz6702 Жыл бұрын
@@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 ♥
@ThePhilosopherLB
@ThePhilosopherLB Жыл бұрын
Whats your degree?
@gillianzperkins
@gillianzperkins Жыл бұрын
10:07 "Sometimes the market fails us. And, when it does, you have unemployment." I think you meant to say, "Sometime the government interferes. And, when it does..."
@yuriserigne5524
@yuriserigne5524 Жыл бұрын
you should explain more, why people are even losing their jobs: big companies make huge profits, but when the huge profit is slightly less huge, they get rid of people instead of using their huge profits to prevent this unemployment cycle.
@kristiw.1823
@kristiw.1823 Жыл бұрын
Thank you for bringing up the complex factors of employment. It has driven me nuts watching my 21 year old, honors college grad, find her first professional job. Particularly while every news program on this subject seems to rave about the unprecedented low unemployment rate. It's not as easy as "get a degree and get a job." Very talented humans, with much to give, might also have physical or mental health challenges that limit what jobs they can take or where they can move to. I'd love it if you could cover the impact of AI on this issue, too. AI as gate keeper is something of a nightmare for job seekers.
@kristiw.1823
@kristiw.1823 Жыл бұрын
@Zaydan Alfariz no. Just a high-quality private liberal arts university in our area.
@gunbacker9428
@gunbacker9428 Жыл бұрын
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
@onose10000
@onose10000 Жыл бұрын
​@elfrjzwhat's your point, man?
@lauriviik
@lauriviik Жыл бұрын
Liberal arts says it all. Change that to engineering an she would be hired straight from school.
@bidmcms3
@bidmcms3 Жыл бұрын
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
@Keraruggles
@Keraruggles Жыл бұрын
Thanks for touching, even briefly, on unpaid workers that contribute profoundly to the economy like parents and children caring for elderly parents. Ive been screaming this into the void for almost 25 years now. Would love a video on this. The money an at-home parent saves the government and even the private sector is mind boggling. From medicaid to the justice system to healthcare. Wouldnt change the choices ive made, but boy i wish it hadnt required so much sacrifice and was valued by the culture at large.
@firecracker3911
@firecracker3911 Жыл бұрын
💯
@QueenNile
@QueenNile Жыл бұрын
I agreed with you it’s a Very important topic for all of us to talk about
@Cellocurve
@Cellocurve Жыл бұрын
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
@hotarubinariko
@hotarubinariko Жыл бұрын
@@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.
@yasmin_thelight6789
@yasmin_thelight6789 Жыл бұрын
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.
@AndreiiJikhh_
@AndreiiJikhh_ Жыл бұрын
I retire next month. And I'm a little nervous about how to keep up with my kids
@AndreiiJikhh_
@AndreiiJikhh_ Жыл бұрын
Please, what do you mean by trade?
@Aegis159
@Aegis159 Жыл бұрын
it would be interesting to hear more about the underemployed, and those that have fallen off of the unemployment percentages due to being on the "list" for too long, or they've frankly given up on the system. The stats I've seen show it's not an insignificant percentage of people!
@rainbowcity911
@rainbowcity911 Жыл бұрын
i got a new job with an at will contract. left my old job. they hired a bunch of us and let all of us go. they hired everyone that applied just to fire and replace them when they found someone with more experience. Basically they were always hiring because they were always replacing. It really fucked up my bank account and couldn’t pay my bills and ect.
@markclifford1857
@markclifford1857 Жыл бұрын
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
@JoshWalker1
@JoshWalker1 Жыл бұрын
Hopefully, Johnny is neither underemployed nor overworked, because he seems to be doing the lord's work and teaching a lot of stuff that probably should have been taught in high school (and, usually, IS taught in high school, just not very well) in 15 - 30 minute videos. I hope the algorithm pays you well, because you are doing a great service to humanity my guy.
@johnnyharris
@johnnyharris Жыл бұрын
🙌🙌 thanks for the generous words!! We’ll keep going!
@utkarshagarwal8013
@utkarshagarwal8013 Жыл бұрын
@@johnnyharris But please do care of your health as well ❣️
@umeshkhetan
@umeshkhetan Жыл бұрын
@@utkarshagarwal8013 Yes, health is the most important both physical and mental
@kingace6186
@kingace6186 Жыл бұрын
Aw. This comment is so wholesome.
@cybercipher5770
@cybercipher5770 Жыл бұрын
The lords work, okayyy. God is not personal lol if he exists
@TCF369
@TCF369 Жыл бұрын
"Whatever is incentivized, happens" - "There are no bad people, only bad incentives"
@DWilliam1
@DWilliam1 Жыл бұрын
As a person pushing 60 one thing I have noticed(even with my own nephews) that many of the younger people won’t take jobs even in fields they trained in because they don’t like the work. We were taught(or maybe brainwashed) that you are “lucky”to have job and that “most people hate their jobs” so you keep it to support yourself and family until or if you find a better job. My friends and I have all gone through this and many kept jobs they hated for 30 years because they felt they had to be responsible. Maybe the younger generation is smarter than we were but then again my parents were not going to let me live in their house into my 30’s without being gainfully employed. Maybe just changing times.
@kelseylabelle7885
@kelseylabelle7885 Жыл бұрын
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)
@KosmicAura
@KosmicAura Жыл бұрын
I just want practical skills to live off the land like my ancestors. I don’t like the modern world
@branch7628
@branch7628 Жыл бұрын
​@@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
@csawada-jorgensen9046
@csawada-jorgensen9046 Жыл бұрын
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.
@gogogogogirl
@gogogogogirl 7 ай бұрын
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.
@lydia1634
@lydia1634 Жыл бұрын
Thank you for mentioning unpaid caregivers. Our labor does have economic value, even if we have to check "unemployed" on all the forms. 🙄
@KhanJoltrane
@KhanJoltrane Жыл бұрын
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.
@lydia1634
@lydia1634 Жыл бұрын
@@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.
@alexguolo5872
@alexguolo5872 Жыл бұрын
Gods work
@mrsmith1097
@mrsmith1097 Жыл бұрын
If you’re unpaid how do you pay your bills?
@lydia1634
@lydia1634 Жыл бұрын
@@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.
@dubliners0999
@dubliners0999 Жыл бұрын
Great vid. I have to admit that I teach at a community college and part of the unemployment problem is because colleges and universities are not able to predict markets and prepare students to serve those markets. Instead, they base majors on what's gotten students good jobs in the past. We're always reacting and it creates employees who are sometimes trained for a business that is no longer in business. Somehow, higher education needs to quickly train students for future jobs, not past jobs. And maybe, technical schools offering certificates or corporations offering short-term certificates are the answer.
@CrystalSprings777
@CrystalSprings777 Жыл бұрын
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.
@CrystalSprings777
@CrystalSprings777 Жыл бұрын
Technical program and got a job after and was let go from that job sorry got ahead of myself lol
@lak1294
@lak1294 Жыл бұрын
Thanks for making macro economics cool and understandable for younger generations (and the rest of us too). I'm a macro nerd myself, but you are doing a great service for so many out there who aren't learning it in school and would rather swipe through another TikTok than look at their credit card statement. I know you're just getting started on this particular topic, but a great journey lies ahead of you and your viewers. Especially if that beast unfamiliar to a whole generation (aka recession) is ahead. Happy trails!
@violetplacencia9916
@violetplacencia9916 Жыл бұрын
I had to pause the video type this: thank you! I have to say that the quality of this video is astounding. You explain things so well and I can't imagine how long the script must've taken to write. The visuals are very engaging too, not to mention the bits of humor sparked throught the video. Your video has developed a new sense of curiosity towards this topic, and I really appreciate it. I hope you prioritize quaility over quanitity when it comes to the production of videos you make, please keep up the good work!
@Sinklebarn
@Sinklebarn Жыл бұрын
The more homeless Johnny looks, the better the content
@STATIKKINC
@STATIKKINC Жыл бұрын
no dude
@FebyanKudrat
@FebyanKudrat Жыл бұрын
🤭
@olasimangrantadrianem.2489
@olasimangrantadrianem.2489 Жыл бұрын
He looks like hippie to me
@seibern
@seibern Жыл бұрын
But why is his hair short in the ad section??
@Mesazane
@Mesazane Жыл бұрын
Jujur ngakak lmao
@cjmkdolphin8443
@cjmkdolphin8443 Жыл бұрын
Thanks. I didn't realize there was a term for what I've been saying for years now. That not everyone wants to be a doctor or a coder. Some people like landscaping or retail or whatever and don't want the jobs that need high education. There needs to be a place for all in the market.
@alecshockowitz8385
@alecshockowitz8385 Жыл бұрын
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.
@darkranger116
@darkranger116 Жыл бұрын
"nonsense, only the rich deserve higher education, the poor can decide whether they wanna flip burgers, or eat them in prison" - reagonomics
@mastersnet18
@mastersnet18 Жыл бұрын
@@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 .
@pavelow235
@pavelow235 Жыл бұрын
Coder's are the ones not getting jobs😂😂😂😂
@Ezberron
@Ezberron Жыл бұрын
@@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.
@vectoralphaSec
@vectoralphaSec Жыл бұрын
Got my bachelor's degree in Computer Science in December 2019, one month before Covid19 and still work in retail. No one will hire me. Life trully isn't fair.
@Bobbfj
@Bobbfj Жыл бұрын
Pay for a professional resume. Goto programming events if you’re a programmer in the west finding a job shouldn’t be difficult. Get interview coaching
@shinyshinythings
@shinyshinythings 11 ай бұрын
“How are all these pharmacists everywhere?” is the new “Batteries?! How do they work?!”
@LarryLoveSosa69
@LarryLoveSosa69 Жыл бұрын
As a South African, seeing people freak out over a single digit unemployment rate is crazy😂
@astridradermacher5546
@astridradermacher5546 Жыл бұрын
Liiiiiiterally. We are so screwed here lmao.
@kulk1ns900
@kulk1ns900 Жыл бұрын
And I don’t think loadshedding helps… Boy what a country
@jigmed1
@jigmed1 Жыл бұрын
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
@619ry7
@619ry7 Жыл бұрын
@@jigmed1 are you sure? Compare cost of living between Mumbai, Delhi and Cape town, Durban
@1queijocas
@1queijocas Жыл бұрын
@@jigmed1 which wages are higher? Indian wages?
@salzeffiro1718
@salzeffiro1718 Жыл бұрын
Johnny, your videos make learning addictive. It is always great to gain knowledge, and nobody presents the facts in a more fun, creative and informative way. No matter the topic, you break it down into information that is understandable. There is no better feeling then the feeling of being educated. Thank you and your team for all the hard work. My family and I appreciate all that you do. Cheers!
@johnnyharris
@johnnyharris Жыл бұрын
Wow! Comments like these are so appreciated. Thanks for sharing such kind words.
@JellyBitz
@JellyBitz Жыл бұрын
It's as addictive as hearing some gossip! The way express the info, feels like a very close conversation between old friends, love it!
@tbonico
@tbonico Жыл бұрын
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.
@shearitchie998
@shearitchie998 Жыл бұрын
@@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.
@themallard1515
@themallard1515 Жыл бұрын
Just in my little area alone in Wisconsin, in the last couple weeks over 500 people have lost their jobs in many different factories and stores. Including a medical center. The layoffs are absolutely historic. I was fortunate to hang on by a thread so far.
@NAT-turners-Revenge
@NAT-turners-Revenge Жыл бұрын
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
@Soma2501
@Soma2501 Жыл бұрын
Unemployed for over a year as a newgrad. Definetely facing the "we only want overqualified engineers" situation
@adamgleim3582
@adamgleim3582 Жыл бұрын
It’s not much, but I want to express my gratitude for your videos. I’ve been a fan for many years, and your videos have played a huge role in many of my classrooms. Thank you.
@lisajean228
@lisajean228 Жыл бұрын
Just imagine if each one his millions of subs gave a little bit, too….😊
@Mahlak_Mriuani_Anatman
@Mahlak_Mriuani_Anatman Жыл бұрын
​@@lisajean228 and thats economy ppl
@audreyjackson7379
@audreyjackson7379 Жыл бұрын
Every little bit helps 😇
@Mia-ge7xf
@Mia-ge7xf Жыл бұрын
aww tears so sweet!!
@Bronanarival
@Bronanarival Жыл бұрын
I mean it's really not much but at least you are somewhat better than others
@Som3D
@Som3D Жыл бұрын
Finally I can have an excuse for not being employed
@SlartiBartfast2469
@SlartiBartfast2469 Жыл бұрын
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
@AntiFurryJihad
@AntiFurryJihad Жыл бұрын
​@@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
@SlartiBartfast2469
@SlartiBartfast2469 Жыл бұрын
@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
@amarissimus29
@amarissimus29 Жыл бұрын
You been asleep for a few years? You're supposed to be proud of it now.
@XXXXX8
@XXXXX8 Жыл бұрын
That's not a flex, homie. You should at least be a little ashamed.
@ElGrandeIngenio
@ElGrandeIngenio Жыл бұрын
The invisible hand is a nice concept in theory, but in reality conglomerates and monopolys do price fixing and break the hand, because fixed prices for essentials are more lucrative for the players involved and exsanguinate the consumer becomes the name of the game
@chitwnyawdman
@chitwnyawdman 11 ай бұрын
A wealthy old man once told me a thing, "not every work is a job, not every job is a career, working for pay is different from earning a salary, earning a salary is different from building riches, being rich is different from building wealth". I know many who followed their dreams and experienced severe financial failures, some achieved greatness. I also know many who dropped out of school, wasn't the 'smartest', had hugh disadvantages in their childhood, and yet they stumbled upon great financial riches. Some did things, started businesses they were initially ashamed of, but over time grew multiple businesses by focusing on hard work and gradual investments into same businesses. I think we all need to rethink 'building wealth' or better yet, rethink what it means to be 'financially free'.
@filibusterfirework74
@filibusterfirework74 Жыл бұрын
I work in supply chain, and honestly a big reason I studied supply chain is because I knew it was a career field where the demand for workers outweighed the number of folks looking to do the job (aka I get paid more). This is mostly becuase I was interested in too many things so thats kinda how I went about making the decision. But honestly I think it is a really interesting space to look at especially when you look at labor incentives for factory workers. Our nations factories are filled with real people, and how they get those people can honestly be kinda insane.
@djm2189
@djm2189 Жыл бұрын
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.
@ChicagoShnozzlers
@ChicagoShnozzlers Жыл бұрын
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.
@vkrgfan
@vkrgfan Жыл бұрын
@@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.
@AA-iy4gm
@AA-iy4gm Жыл бұрын
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
@yrazu05
@yrazu05 Жыл бұрын
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.
@Star-Tracker
@Star-Tracker Жыл бұрын
As a French, I choke on my baguette when I heard "These baguettes are 3$ a piece, it's a nice affordable price" XD No, not even in Germany where I live would I pay 3$ for a baguette! A baguette must be 1€ maximum 😉 Out of that, nice video 👍
@TheAmericanAmerican
@TheAmericanAmerican Жыл бұрын
Can confirm. Baguettes in Germany are amazingly cheap 😍
@yadisfhaddad722
@yadisfhaddad722 Жыл бұрын
That's because they are government subsidized! Via flour and directly as a product. That's why other types of bread are costlier
@vincentrochow6979
@vincentrochow6979 Жыл бұрын
Hope you like Germany! From a fellow German :)
@sgw8707
@sgw8707 Жыл бұрын
In the bay area they can go for like 4-5 dollars 🥹
@europeancoalandsteelcommunity
@europeancoalandsteelcommunity Жыл бұрын
@@yadisfhaddad722 Bread and circuses...
@TheVethronx
@TheVethronx Жыл бұрын
@johnny Harris can you do a video on tax return and countries that don't file taxes?!! And why they don't.
@FOUO88
@FOUO88 Жыл бұрын
The worst thing about this is I wish this was longer. The way you present makes me want to keep watching and learning.
@CaptainCraigKWMRZ
@CaptainCraigKWMRZ Жыл бұрын
The problem that we have with companies searching for labor, is that they don't tell you what they will pay. They want all of your info but hold wages close to the vest. This needs to change.
@mcnater
@mcnater Жыл бұрын
100% this
@GTAVictor9128
@GTAVictor9128 Жыл бұрын
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.
@khairulhelmihashim2510
@khairulhelmihashim2510 Жыл бұрын
basically it's like a procurement tendering process. lowest bidder has a higher chance to win.
@PokhrajRoy.
@PokhrajRoy. Жыл бұрын
It sounds odd but my first introduction to the economy and politics was through food. Their prices, stock, inventory at home, measurement, value, quality and the vendors.
@jujubesification
@jujubesification Жыл бұрын
What you didn't mention is that actually, central banks decide what the natural unemployment rate is of a certain country and if the unemployment rate is below the "natural" rate, the central bank will influence the economy until enough people are unemployed again. And central banks also change what they consider to be the natural unemployment rate of a country. There's really not a lot natural about it.
@einfachdenken1722
@einfachdenken1722 11 ай бұрын
Great Video. But you should have said, that the government intervention not only helps against unemployment but also causes inflation and the rise of taxed, which reduces the resources that can be used freely by ourselves and increases the resources that are used centralized upon us.
@PokhrajRoy.
@PokhrajRoy. Жыл бұрын
It is so sad to see the state of educators and educational institutions in terms of unemployment. Freelance teaching is great but unstable sometimes and there’s rampant exploitation of teachers. They’re overworked and underpaid.
@FirestormX9
@FirestormX9 Жыл бұрын
@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.
@mlake4725
@mlake4725 Жыл бұрын
I think teaching is dying or almost dead. Thanks to AI. Unless you're teaching AI...
@WKRP187
@WKRP187 Жыл бұрын
How is having a part time job being "over worked"??
@PokhrajRoy.
@PokhrajRoy. Жыл бұрын
@@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.
@PokhrajRoy.
@PokhrajRoy. Жыл бұрын
@@mlake4725 AI is still in a fledgling state. It is not capable to undertake every task yet.
@ClellBiggs
@ClellBiggs Жыл бұрын
I'm a caregiver and care for my dad. I'm 43 and have been taking care of him since I was 20. He's 78 and I don't know what I'm going to do when he passes. I try not to think about it but it worries me.
@narnigrin
@narnigrin Жыл бұрын
I feel like we all need to give Nick some appreciation for giving up his baguette that he bought with his own money so that Johnny could eat bread on camera while talking about imaginary macroeconomic baguettes
@markclifford1857
@markclifford1857 Жыл бұрын
Hello 👋 Masala. 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
@madichelp0
@madichelp0 Жыл бұрын
@@markclifford1857 DOWN HORRENDOUS
@mynameisthis1580
@mynameisthis1580 Жыл бұрын
A major miss from Johnny Harris is that the world economy suffers when some countries are bombed and colonized. The talent from that country has to leave for better opportunities. Guess where they go? They go to the country doing the bombing, which causes an oversupply of talented labor. The local population suffers losses, while the rich get richer.
@justinbell7309
@justinbell7309 Жыл бұрын
The idea that prices communicate information is probably one of the most important things for really grasping economics. I thought it was missing in your inflation video, good to see it here.
@rachel_sj
@rachel_sj Жыл бұрын
As someone who was on and off unemployment for a number of years (thanks to my undiagnosed Autism and ADHD), it needs to be said: You Are More Than Your Job and Your Worth as a Human Being Isn’t Tied to Your Productivity. What doesn’t get said as much as the cold hard unemployment figures is how unemployment trauma impacts how you work and feel at future jobs. The trauma of instability can have a ripple effect and, if not addressed and healed, can stunt any growth you were planning to make while at a new role. It’s not your fault if you got laid off while doing kick ass work. Things happen and, unless you’re not liking your job and are slacking, it’s best to know that circumstances can happen outside of your control (and worrying about that is toxic to your mental health). Take care of yourself!
@tobythompson199x
@tobythompson199x Жыл бұрын
Especially when you live under an unfettered capitalist system.
@moron0000
@moron0000 Жыл бұрын
Top tier comment
@branch7628
@branch7628 Жыл бұрын
I'm done giving 100% for companies. They have kicked me to the curb while execs posted record bonuses
@DavidGoodlett
@DavidGoodlett Жыл бұрын
What do we do with the fact that in the modern economy, more so than at any previous point in human history, millions up millions of people are forced to make a living through the manufacture and sale of essentially useless items that only contribute to the degradation of our environment and our society?
@MaxFung
@MaxFung Жыл бұрын
kind of mid that johnny didn’t go into the suffering experienced by those unemployed or really anything about the suffering of the working class
@FallenArtemie
@FallenArtemie Жыл бұрын
I recently became unemployed. It does feel like I have the skills and talents that employers are seeking but they never go thru with giving me a chance. Other than that though, these videos have been really helpful for me to understand the motions of economics but also to explain it to my sister who thinks money and prices are all nonsense and greedy and also to my dad who feels like it's specific people's fault for being unemployed rather than everyone's. I'll be sending this video to them too, thx Johnny.
@MitchNeverhood
@MitchNeverhood Жыл бұрын
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.
@martinnoro2098
@martinnoro2098 Жыл бұрын
​@@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.
@MitchNeverhood
@MitchNeverhood Жыл бұрын
@@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
@raybabanto2207
@raybabanto2207 Жыл бұрын
Great content! I can totally relate to this topic as I'm unemployed right now. For a first world country, there should be a lot of opportunities compared to where I am right now, a developing country, people would 'kill' another to get a job.
@gunbacker9428
@gunbacker9428 Жыл бұрын
@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.
@gunbacker9428
@gunbacker9428 Жыл бұрын
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.
@gunbacker9428
@gunbacker9428 Жыл бұрын
@elfrjz nah I'm not that smart lol
@thinkbeforeyoutype7106
@thinkbeforeyoutype7106 Жыл бұрын
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.”
@rudysmith1552
@rudysmith1552 Жыл бұрын
@@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.🇷🇺🇷🇺🇷🇺🇷🇺
@Jeradin99
@Jeradin99 2 ай бұрын
I recently found this channel and have loved everything I've listened to (up to and including the encouragement to think for oneself). As a pharmacy employee for 9 1/2 years, I have a minor issue with this one, though. Everything is correct, but one major factor that allows pharmacies to function was completely omitted: pharmacy technicians. They are the ones who help the pharmacist. They are trained in handling medications, inputting prescriptions, dealing with insurance companies, ensuring inventory is in stock, and, in most states, handling most of the face-to-face interactions with patients. I've really appreciated these videos. It just irks me that we're a forgotten/unknown workforce. Keep up the good work, Johnny. I look forward to watching/listening to your videos.
@ChefKilgore
@ChefKilgore Жыл бұрын
I love your work and am a huge fan of your content. Your video is a great basic explanation but I feel it’s worth it to also mention that unemployment is also defined as those who are actively looking for a job. So the unemployment rate is actually much higher than just those unemployed or taking care of others.
@silentwarrior3
@silentwarrior3 Жыл бұрын
A lot of what I believe is rocking economies is the larger companies requiring more skills for basically entry level jobs (5+ years experience straight outta college types) yet offer the same wages, so many people just decide not to because they’d be getting paid LESS THAN THEIR WORTH.
@captmants2093
@captmants2093 Жыл бұрын
Funny how this popped up while I'm feeling really lost and hopeless about being unemployed. I want to work so bad, what a good explanation on this.
@NatureSmarter
@NatureSmarter Жыл бұрын
Same here, hope you find one soon!
@lun-uhatic195
@lun-uhatic195 Жыл бұрын
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.
@malaga7122
@malaga7122 Жыл бұрын
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!
@deltaforceee
@deltaforceee Жыл бұрын
We going to ignore he took someone else's baguettes?
@timedmonds3
@timedmonds3 Жыл бұрын
Been chatting with other contractors on hiring younger workers. I have to say the school system is doing a number on these kids. *ZERO clue on real world*
@keithc5729
@keithc5729 Жыл бұрын
Remember, the Fed has two jobs and one of them is making sure there are a lot of people unemployed. That way the workers are desperate for a job and will work for less. Unemployment insurance is always lower than your wages so you will be desperate for a job.
@vulgoalias4050
@vulgoalias4050 Жыл бұрын
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.
@sillyyo9040
@sillyyo9040 Жыл бұрын
"Humans aren't baguettes" is absolutely shirt worthy! Please merch please!!! Also, as you said, economics has always been so complicated and only economists knew the secret password. Thank you for making it so easily understandable. Much appreciated!
@vkrgfan
@vkrgfan Жыл бұрын
They make it sound complicated to fool you to work for a minimum wage. It's always been a rich versus poor struggle.
@JoelReid
@JoelReid 11 ай бұрын
Humans are designed for work, we thrive on it. Some people crave to "not work", but often you find that really they crave a different type of work. Playing a computer game all day, for example, is technically work, although not usually paid work. people suffer mentally when really not working. We need to believe we are working. if we believe we are not working we suffer.
@GrimFelArt
@GrimFelArt Жыл бұрын
And there are sadly people like me as well, who have *never* been employed and thus have no hope as an adult to actually find good work. In my case, it's due to poor mental and physical health, not for lack of wanting, and thus I feel like a useless lump of nothing because the reason I'm stuck under my country's poverty line on government welfare, and unable to contribute to society, is a result of something I can't help. I can't help it that my anxiety is so bad that just something being dropped on the floor and startling me can send me into tears. I can't help it that my genetics have given me hereditary illnesses that not only make it difficult to function mentally, but physically as well (back pain, joint stiffness, tremors, poor balance and memory). I know it's not my fault that I'm like this. But I'll never stop feeling guilty and like a waste of space. I am the refuse, the inevitable malformed product. At least I live in a country where I can still have a roof over my head, I guess. But a lot of the time I don't know why I even bother continuing to live.
@sehoonah7756
@sehoonah7756 Жыл бұрын
Try to find a part time job. You'd be surprised at what a positive attitude can get you even without any work experience. And once you got your foot in the door, you can figure out your next steps from there. I was in your shoes a year ago too, but now I work at Chick-Fil-A...
@GrimFelArt
@GrimFelArt Жыл бұрын
@@sehoonah7756 I have been trying for 5+ years now, and with the "help" of a government disability employment service, as well. Not even fast food chains or supermarkets (not that I could handle the stress of either) want a 26y/o chronically severely mentally ill neurodivergent mess with an empty resumé 😅 I never ever ever hear back. Even when I put in a lot of effort and make it clear that despite my difficulties, I want to try. But I'm not worth the extra hassles of adjusted hours and whatnot -- I can't do heavy lifting/labour-intensive tasks or be on my feet for a long time, and can't do multiple high-energy person-to-person interactions because I get overstimulated and panicky. I'm on meds yes but they're not gonna fix everything. Government refuses to put me on disability pension though. So I'm stuck in this limbo. I probably have MS and am pursuing a diagnosis, so maybe then, and I can find a subdued job on my own down the line.
@magicalblade9503
@magicalblade9503 Жыл бұрын
Sorry to hear about your situation. I have been in situations where all I had was health problems and anxiety so hope that the following might help you. The biggest lie that you believe is that you can't help yourself. What's worse is that your anxiety will tell you that this lie is true. Maybe you "can" help yourself. Maybe you should live to overcome your challenges. Maybe you are capable of overcoming your challenges. I believe that you can help yourself because there is always something that we can control. Look at the things that you can control. Even genetic issues can be made worse through their environment. Look at your diet maybe that could be exacerbating your health problems, try exercising and so forth. Physical health problems will affect your mental health and vice versa, any small improvement will improve both aspects. I believe you can contribute to society and are capable to contributing to society despite the overwhelming challenges that life has thrown at you. You are stronger than you think.
@Kyotosomo
@Kyotosomo Жыл бұрын
Really appreciate you educating people on important economic concepts like these, we'd be living in a drastically more better world if everybody understood basic economics.
@Airbournjack
@Airbournjack Жыл бұрын
Please do continue with this series on Macroeconomics. It's very helpful in having discussions about what our country is doing around us... and what we should do about it
@ayeflippum
@ayeflippum 11 ай бұрын
The "economy" didn't fail. It did exactly what it is designed to do, i.e. shift money from the majority to a small minority.
@floralee1645
@floralee1645 11 ай бұрын
In this happy scenario of small and abundant employers, the economy should not shove money to only rich people. However, economy assumes that people have freedom of information and lots of choices to place them in the best job possible to them and denies awful price point or treatment. Yet, in a monopoly economy that we are in today, we cannot deny unfair wages because there are only unfair wages. It also does not help with the fall of unions, which used to be a form of the buyer ( employee) pushing back to reach a fair agreement.
@davidarvingumazon5024
@davidarvingumazon5024 11 ай бұрын
Read my PFP.
@davidarvingumazon5024
@davidarvingumazon5024 11 ай бұрын
@@floralee1645 Hi
@minhalal-lawati2263
@minhalal-lawati2263 11 ай бұрын
Who designed it to do that?
@ayeflippum
@ayeflippum 11 ай бұрын
@@minhalal-lawati2263 I am sure you can find a KZfaq video about that. I have seen several.
@YourMomPaysMe
@YourMomPaysMe Жыл бұрын
I'm just a baguette trying to make my way through life.
@sunshinespeech685
@sunshinespeech685 Жыл бұрын
Thank you for including "speech pathologist" as one of the career shout outs. Virtually no one ever includes us when they name off professions. ☺
@crazyprayingmantis5596
@crazyprayingmantis5596 Жыл бұрын
Well thufferin thuckertash
@kindlin
@kindlin Жыл бұрын
@@crazyprayingmantis5596 That took me a second. My 9-year-old brain had to make some new connections to my more recent joy of reading.
@crazyprayingmantis5596
@crazyprayingmantis5596 Жыл бұрын
@@kindlin ☺️
@travellingyeti6333
@travellingyeti6333 Жыл бұрын
I thought the same thing! I'm not one myself but have super high respect for the profession
@ikkeheltvanlig
@ikkeheltvanlig Жыл бұрын
A huge benefit to paying companies to not fire people instead of paying people who've been fired, was that the companies that didn't fire their employees didn't lose qualified people to other companies and professions, having to go recruit and train new people in an expensive and slow process.
@itsthemetho
@itsthemetho Жыл бұрын
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?
@alexanderboulton2123
@alexanderboulton2123 Жыл бұрын
Sometimes baguettes go bad, and sometimes companies can afford to let a few baguettes go bad because they make more money having higher prices.
@xander9460
@xander9460 Жыл бұрын
You have science communicators, like Veritasium or Kyle Hill. We now have economy communicators like you and Economics Explained! A worthwhile job =)
@scarletdragon1019
@scarletdragon1019 Жыл бұрын
This is why I think the best thing to do is to keep learning and studying new things, even after you're done college. Always looking forward and open for the next new thing that might be a better opportunity, or at least something that might save you from ending up on the streets
@defaultworkouts
@defaultworkouts Жыл бұрын
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
@cl00x3r
@cl00x3r Жыл бұрын
u gave me deep depression :"(
@scarletdragon1019
@scarletdragon1019 Жыл бұрын
@@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 :)
@muzummilkhan7713
@muzummilkhan7713 Жыл бұрын
​@@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
@yrazu05
@yrazu05 Жыл бұрын
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.
@VillainousFiend
@VillainousFiend Жыл бұрын
One thing people don't even bring up that I've experienced from my time unemployed is that the longer you're unemployed the harder it to become employed. As if you are "unemployable" and there must be a reason you haven't gotten a job yet which shifts the blame to the person and perpetuates unemployment. It is easier to get a job if you already have one.
@omphiledirero5622
@omphiledirero5622 Жыл бұрын
This is exactly where I am at
@moses5707
@moses5707 10 ай бұрын
According to the US chamber of commerce, 66% of people who became unemployed in the last 3 years are not actively looking for work.
@twotails
@twotails Жыл бұрын
3:12 the rare time you see Johnny smiling
@josephmorgan1453
@josephmorgan1453 Жыл бұрын
I would really like to hear an explainer on labor unions and the relevance/purposes they serve, as well as the pitfalls that can accompany organizing workers counter to firms in an economy.
@Lilo-A
@Lilo-A Жыл бұрын
I learned basic economics in 9th grade, somewhere around 1979. This was during a period of staggering inflation. Maybe that’s why it always stuck with me. If they’ve quit covering it as a basic requirement in primary education, now would be a good time to start again. One thing they didn’t teach me but I’ve found to be consistently true in all areas of life - everything cycles back around … this too shall pass.
@Hollywood041
@Hollywood041 Жыл бұрын
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).
@xirvin92
@xirvin92 Жыл бұрын
the thing is the prices never go down, it stays up
@kasia7673
@kasia7673 Жыл бұрын
The sad part is that we’re waiting now for the unemployment rate to get higher, so we can afford to buy houses.
@johnsonwongcs
@johnsonwongcs Жыл бұрын
Hey Johnny, love your videos! Since you offered, I have a topic, but I wonder if it is too large in scope. It has always fascinated me how money seems to be created out of thin air, especially with the bank reserve system and after the gold standard. I love how you find ways to so clearly explain complicated matters. Care to give this one a crack? Thanks!
@kingace6186
@kingace6186 Жыл бұрын
Hey, Johnny and team. Great video. I really appreciate these macroeconomic explainers. They really help analyze issues that impact all of our lives in a concise way. As usual, keep up the incredible work!
@marypatten7051
@marypatten7051 Жыл бұрын
I learned more about economics in this one video than I have during a whole semester back in high school.👌
@yohanahramen6756
@yohanahramen6756 Жыл бұрын
Just love how every vid Johnny puts out is discernibly better than the last
@ChybaZartujesz86
@ChybaZartujesz86 Жыл бұрын
"Humans are complicated, and not baguettes" :D lmao! super cool material, as always!
@DavidBennettPiano
@DavidBennettPiano Жыл бұрын
I love these economics videos Johnny! I wish the basics of economics was taught in school! Keep up the great work, you’re a boss-tier communicator 😊
@Firzj
@Firzj Жыл бұрын
Never got a chance to be employed lmao😂. I hate making up all these lies and wasting time on CV decorations just to be invited on the interview and get rejected even if it is entry-level position. I just wanted a job, to gain experience and improve my life. Employers ask too much nowadays and give no chances for fresh candidates. So I chose to work for myself, and solve people's problems when I'm really needed 👍🗿
@zasta7
@zasta7 7 ай бұрын
Nice. What do you do if you don't mind telling?
@Lucky5Racing
@Lucky5Racing Жыл бұрын
Need to do a video of all the power sub station attacks in the U.S!
@joshwells3247
@joshwells3247 Жыл бұрын
I would love a video into corporate profits link to inflation and how government regulations on companies affect inflation and the economy as a whole. Love your content ❤️
@eliallison7125
@eliallison7125 Жыл бұрын
Same!
@johnsamuel1999
@johnsamuel1999 Жыл бұрын
@Zaydan Alfariz sounds dumb . Why should anyone pay 70 percent ? Its unjust to tax that much
@Fenthule
@Fenthule Жыл бұрын
@@johnsamuel1999 it honestly isn't. Personal greed is destroying the world. The inequality of the planet is unreal, we could ALL be lifted up by the humbling of those at the top. We live in a society, and as such there are needs for things we all benefit from. Roads and railways, healthcare, education, I could go on - these things benefit everyone and are commonly extremely underfunded. Meanwhile the richest among us aren't even in the country, they're on some mega yacht or personal island. They could single handedly pay for all the issues back in their home country, and STILL have enough money to sit there doing whatever the f*ck they're doing. You can't take money with you when you die so why do people horde it like dragons? We're all humans after all.
@johnsamuel1999
@johnsamuel1999 Жыл бұрын
@@Fenthule the only ones being greedy are people who believe in the stuff you mentioned. They want all the universal government benefits,but dont want to share the tax burden with everyone. They just want the rich and corporations to pay for everything while they enjoy the benefits. If you eant to solve all those social issues, go ahead and pay that 70 percent tax volunteeringly . Just becasue rich people have money doent justify taxing them that high. Taxes are the fees you pay to enjoy the benefits of society, so they have to be fair. The 70 percent tax is just extortion
@mannnnuuu
@mannnnuuu Жыл бұрын
as a science student , learning macroeconomics just before my exam really gonna make me unemployed
@donwinston
@donwinston Жыл бұрын
Being unemployed is especially scary for people in software development and other "tech" professions. Your skills can quickly become obsolete.
@vivekchavanmusic
@vivekchavanmusic Жыл бұрын
What I learned from this video is that the ups and downs of the economy is based on the collective consciousness of all people feeling at ease with their financial state. Makes me wonder how much effect the fear mongering through news has on the economy and if alarming people that we're going into a recession speeds it up.
@HandsWithLegs
@HandsWithLegs Жыл бұрын
I think it’s really important to remember that some level of unemployment benefits business owners. If everybody is employed and your boss wants to fire you, they are going to have a really hard time finding a replacement, giving you leverage. But if there is some level of unemployment then there is always people who can take your place quickly. It gives employers disproportionate power (especially since things like health care are tied to employment) and is one of the reasons unions are so important, to counterbalance this power
@tuckeresty2036
@tuckeresty2036 Жыл бұрын
I love your videos Johnny! No other youtuber creates such high-quality movie-like videos analyzing such interesting topics. It would be so cool if you did a deep dive into the Vietnam War!
@praveenrajput1587
@praveenrajput1587 Жыл бұрын
check think school
@rachel_sj
@rachel_sj Жыл бұрын
If you like Johnny Harris, I’d recommend Knowing Better. His channel is excellent and he does deep dives into a different topic each month and are mini documentaries on their own!
@moathalmahroqi
@moathalmahroqi 11 ай бұрын
A wise man once said, in order to be an economist, you must know this rule, which is that economics is the management of scarce resources that have alternative uses, but if you want to become a politician, you must forget the previous rule.
@PropheticShadeZ
@PropheticShadeZ 11 ай бұрын
There is enough food, housing and water for every person on earth, for up to 11 billion These resources aren't scarce by design And that is without changing anything
@lolitsajoke77
@lolitsajoke77 8 ай бұрын
As a pricing consultant and someone who’s worked closely with pricing for 9 years you nailed pricing Johnny! I love the analogy and takes a real nebulous subject to people and breaks it down expertly into how important it really is despite how innocuous it feels.
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