Ray Dalio says a lot of things, only about half are correct. Where is the data? Employers are quick to fire unproductive workers and yet the unemployment rate remains low.

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TheOtherHobbes 7 hours ago | parent [-]

The figures exclude workers who would like to work but have given up, and those who work part-time but would like a full-time job.

The U-6 rate is nearly twice the rate of the official figures.

	▲	bobthepanda 4 hours ago \| parent [-]
		Also, one major confounding factor is that in 2008, gig economy apps like Uber did not exist. The unemployment rate is measured by if someone has done an hour of paid work in the last week. Which is pretty easy to disqualify for if you do any gig economy work. And in a true slowdown the gig apps will probably stop being able to absorb people.