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A comment on What Economists Still Don’t Get About the 2008 Crisis. Parent comment

Re:What Economists Still Don’t Get About the 2008 Crisis by starbugs on Monday July 30, 2018 @04:25PM (#17647692)
What confuses me is that low unemployment obviously doesn't lead to real wage increases (currently).

There seems to be something wrong either with the unemployment stats or something else is not quite right.

As long as the money that is confined in housing assets doesn't reach the "lower" market of people who actually need to spend that money, it's perfectly logical to me that it doesn't appear as price inflation in the general economy.

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Re:What Economists Still Don’t Get About the 2008 Crisis by Terr_ on Monday July 30, 2018 @06:07PM (#17648577)
I suspect that's because the nature of "not-unemployed" is changing. Long ago it usually meant either being out of the workforce (retired, student, homemaker) or a full-time job with benefits.

Nowadays we're seeing a decrease in the last category, and an increase in "underemployment" and people holding multiple low-quality jobs to make ends meet. They aren't "unemployed", but they're not in a strong negotiating position either.

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