JPM's Glassman: True U.S. Jobless Rate Around 6.5%

The video discusses employment trends in America since 1947, highlighting the hidden unemployment and demographic impacts on the job market. It analyzes underemployment and the true unemployment rate, considering the effects of automation and the 4th industrial revolution on job opportunities. The discussion also covers the concept of full employment, its impact on wage growth, and the Federal Reserve's role in achieving economic stability.

What is one reason for the hidden unemployment in America?

• The education system is failing.

• People are moving to urban areas.

• Many have stopped looking for jobs.

• There is a rise in part-time jobs.

What is the estimated true unemployment rate according to the discussion?

• 6.5%

• 5.5%

• 7.0%

• 4.0%

How does the Federal Reserve aim to manage the economy?

• By promoting exports.

• By reducing government spending.

• By controlling inflation and employment.

• By increasing taxes.

What is a potential effect of the fourth industrial revolution on employment?

• It will eliminate all jobs.

• It will increase manual labor jobs.

• It will create new job opportunities.

• It will reduce the need for education.

What is expected when full employment is achieved?

• Wages will remain stagnant.

• Workers will have better bargaining power.

• Inflation will decrease significantly.

• Unemployment benefits will increase.