Agriculture went from employing the majority of the populace to 2%. We found jobs for everyone.
Sure, over the course of like 200 years. Can you not see how that is fundamentally different?
There are many professions that have immense latent demand that people simply cannot afford
“Afford” is doing a lot of work in your sentence. How do you think people are going to be able to afford more? Workers aren’t going to be making more money, and the workers who enter these professions are going to be making a lot less money.
Labor force participation is a better metric here
No, it really isn’t.
Labour force participation rate is “how many working age people want a job” even if they’re unemployed.
Unemployment rate tells you “how much of the labour force can get a job” which is what we actually care about. Can you get a job if you want one.
More people need jobs (as you have shown) but fewer percentage of those people are able to get jobs (as I’ve shown).\
Sure, over the course of like 200 years. Can you not see how that is fundamentally different?
“Afford” is doing a lot of work in your sentence. How do you think people are going to be able to afford more? Workers aren’t going to be making more money, and the workers who enter these professions are going to be making a lot less money.
No, it really isn’t.
Labour force participation rate is “how many working age people want a job” even if they’re unemployed.
Unemployment rate tells you “how much of the labour force can get a job” which is what we actually care about. Can you get a job if you want one. More people need jobs (as you have shown) but fewer percentage of those people are able to get jobs (as I’ve shown).\