As a counterpoint, Germany has much stronger employee protection laws and unions and has a comparable unemployment rate. That said, resizing is still possible there, it just has some lag.
My mom got laid off after a bit over 15 years of employment and got about 2 years salary as severance pay.
On top of that stuff like healthinsurance isn't a "benefit", but a social security and taken care of even in unemployment.
I don’t know if it’s better or worse, just different.
https://www.dw.com/en/debunking-the-myth-of-low-german-unemp...
The ability for companies to take big risks is what pushes the economy forward so that we can all have better lives for a reduced cost, and better jobs too. To “protect” jobs you would hold us all back, we’d still all be working on farms or in factories instead of on computers, increasingly from home. Is that what you want? Why are people rioting in France? Maybe because they feel poorer than their parents. Their laws protecting jobs have removed opportunity from everyone in order to provide stability for some.
Have you ever been to Alabama? Mississippi? Florida outside of the metro areas? They're equivalent to third world countries with infrastructure held together by duct tape and spit. Every time I drive through those states, I feel like I'm in some edgy anarchist's student film about late stage capitalism. Those areas should have been rioting for decades now but US economics is set up in such a way as to deprive the constituency from any practical way of getting involved.
This is deeply hyperbolic.
Wages will not rise if the labor supply exceeds demand. You need more jobs and/or fewer people in the labor force before wages will rise.
The American approach is to provide business friendly regulations and tax policy which incentivize companies to invest and take risks. The “social contract” is not vested with the company, but rather a free flow of employees between companies based on who will hire whom, who will pay the most competitive salary and benefits, and which companies are the most attractive.
The state/Federal government then provides programs that basically provide umbrella protection for all workers like unemployment insurance, short term disability, marketplace health plans, etc.
It’s not efficient for individual companies to be providing welfare to employees they don’t want or need. It’s a drain in the entire economy because the employee is doing less valuable work than they could do elsewhere, and the company has less money to hire workers they actually need.
Could you explain it please?
Even U6 is below 8 percent.
https://www.macrotrends.net/1377/u6-unemployment-rate
the part time part is big of course ( https://fredblog.stlouisfed.org/2015/05/the-many-flavors-of-... ) but that's how it was for decades since BLS started tracking it.
With regards to ethical wages, SpaceX should pay well, so people don't depend on them (they can save enough to be able to sustain themselves for at least a few months while they look for a new job). If SpaceX doesn't need that many workers they should give them prior notice (2 months or more at least, I don't know how they handled this).
There’s basically two Americas. In the other one, 40-60% of adults aren’t working.
Unemployment only factors in labor force participants.
Data: https://www.bls.gov/emp/tables/civilian-labor-force-particip...
Labor force participation rate is also not a measure of employment. It is the number of people who are employed plus the number of people who are actively looking for employment but who aren't employed. If you want strictly what portion of the population is currently working, that is employment to population ratio, which is what I posted.
Second, specific to SpaceX, they actually succeeded in making reusable rockets. They used to need to build a new rocket for every launch. Then they needed to build their reusable fleet up. Now they don’t need to build hardly any rockets. I think this is what success looks like for them right now. From this point of view a 10% reduction is pretty low, and is only so low because they still have even bigger plans.