Hey guys. I have a quick question because we’re talking about this Andrea, this is the first time I’ve spoken here and many brilliant people here, but I just have a quick question about the jobs market, the jobs report.
Is that OK 100%?
Perfect. So I was reading for the Bureau of Labor Statistics, which talked about discouraged workers or people who were not considered in the unemployment rate.
I can just read it to you, and you guys can provide insight because this is interesting. It said the number of persons not in the labour force is a classification of employees who are not employed in the population. It said it was the number of people who are not currently or who they don’t want. They want a job increase of 346,000 from May to April, May to April.
And that’s like two 5.3 million. And these individuals are not counted as employed because they were not actively looking for work in the past four weeks. So that’s a little concerning to me because that’s like 346 people who are not considered a part of the labour force in this calculation.
What do you think about that? I mean because it said these new jobs were created over this period. That’s the kind of speculation to find behind by we’re all talking about this. The economy is better, but there’s a classification of people.
So, well, well, be careful with this. Yeah, that’s not the case. No, no, someone said that’s why unemployment is so low. But so this, this measure of people who are more than 27 weeks not looking for a job has always been the case. We’ve always used that measure as the standard measure to exclude them, but there are different 6-6 or seven; I mean, not remembering right now, different levels of unemployment you can look up, it’s from looking up the U-6 system.
We’ve always measured inflation. That headline is it’s not inflation. The headline, uh, jobs numbers have always been consistent. We have yet to use different classifications, but all six categories are all seven if I remember correctly. I am trying to remember if there’s a U0, but all six or seven of them are low compared to 20/19. We’ve been at historic lows for every single one of the measures. Part of the reason the number of people seeking employment today is less than before the pandemic is a lot of people retired early.
During the pandemic, a lot of people retired early.
And so when and all these, there’s an excessive number of retirees in 2020 and 2021.
And those people got out of the labour force. We went from 64% participation to 61 participation. So that’s 64% of the population used to participate in the labour force. Now we’re at 61%, another reason we’re seeing low unemployment. So some people gave up on looking for jobs, for instance. They’re not; they’re not included in these numbers. So we have to stay consistent with our benchmarks, but you can look at unemployment.
Tells you, like the entire country’s population, what’s the unemployment number And that one is also out of historic low as of this week. So we’re at a historic low. So even though these things can skew the numbers by any standard, we’re doing OK.
But if you’re looking at just the economic employment or the employment situation summary, right? Under the established survey data, it says that not much has changed in the profession across all these major industries, right? So if these new jobs were created, 200-something thousand jobs would increase by under 53,000.
Where exactly where they were? Where were they created? If not much has changed across all these verticals, I also get the table.
It’s just like what is, what is that comparing? I want to know because you said no new jobs were created, and compared to what and in what industries are we talking about?
They were created. Yeah. Well, so the most recent, the most recent jobs numbers saw high numbers in nursing. In stock, like people like stock. People who stock retail stores. I need to remember what they’re called stock clerks.
So medical field stock clerks and software programmers are the three jobs or industries that saw the greatest rise in employment in new jobs. And the number one employer in the country today is hair cutters. So I don’t know what that means, but there’s some information for you.
The interesting thing would be the advert and the adverse evaluation of the data because it’s like.
Yeah. We’re seeing these like increase in jobs. So where did we lose all these jobs because of a significant decrease in the table?
That would be in tech, and I forget the other one, but tech is definitely a big one ohh, accountants and finance professionals saw a large decrease, so it was.
In job numbers, yes. Tech saw a decrease in job numbers, and so did finance and accounting professionals.
What about the construction industry?
I did not see a significant change. It didn’t stand out on the industry chart. So I’m not. I can look that up for you, Cindy, but it didn’t stand out for me.
It increased slightly in that area. Yeah, I expect construction to increase because of manufacturing.
Increasing industrial manufacturing implies ongoing projects and building, but I need to find out exactly.
Real quick, guys. That’s all Aladdin. Make sure you’re following if you still need to do so. And you know, definitely a great add-on for, you know, Clubhouse here. And he’s also our finance manager for the Million Marathon Fund, so he’s also somebody who worked closely with me in real life. Give him a follow if you still need to follow him because he’s one of the smartest individuals in these rooms when it comes to macro and microeconomic trends are very important.
You know, unlike Jonathan, Jonathan is just useless, you know, so it’s, you know. He is a playmaker, though, so absolutely Jonathan is the playmaker 100%. That’s a fact. That’s a fact, 100%.
I have a Is there a job here? Oh, I got a question. Is there a job out there if somebody wants to go to work? Absolutely. Thank you. Yes. I mean, almost, yes. But you have to be and be open to joining a new industry because if you’re in tech.
Yeah. So I wanted to know if we could talk about the million marathon fund because something Cindy said earlier about like a real estate fund; that’s what you have, right? I when she was talking about like where people could put their money. But I’ve been wanting you to talk about it. I don’t know if you have time to hit on some of that stuff. People probably would have some questions for you too.
Like like, what’s accredited mean? I mean, I don’t know. I am trying to understand what accredited investor means and stuff like that. I mean, well, yeah, I’ll pass the mic to.
No, 100 per cent, 100%. So guys, just put, you know this is a real estate private equity fund. You know, metaphor. Accredited investors, right? And accredited, Simply put, is. So there are three basic ways one can be qualified as accredited. And the 1st way is if you’re an individual in this room, you’re single, you’re not married, OK? And you’ve made 200 grand a year at least.
For the past two years, you have been an accredited investor with a reasonable expectation to make that in the coming year. If you make under that and you’re a single individual, you’re not married, you’re not accredited, and you do not have access to private equity funds like this, right?