The Silent Crisis DESTROYING the Economy
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 24 December 2024
⏱️ 38 minutes
🧾️ Download transcript
Summary
Ken and Danille McElroy discuss: The economy may appear stable on paper, but beneath the surface lies a deeper issue: underemployment. In this video, they talk about why so many Americans are overqualified, underpaid, and struggling to afford life’s necessities despite a low unemployment rate.
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | If you talk to the average American right now, they'll tell you the economy is not in a good place. |
| 0:09.5 | However, with the economic numbers, unemployment is low. |
| 0:14.1 | So what is going on? |
| 0:15.5 | It's underemployment. |
| 0:16.9 | Like, nobody ever talks about underemployment. |
| 0:19.6 | Everybody talks about employment or unemployment, but underemployment is an interesting thing. |
| 0:26.3 | So I started digging in just like you did. |
| 0:28.5 | We've been having a fascinating week in talking about this. |
| 0:31.5 | Right. |
| 0:31.7 | Life at tobacco is at home. |
| 0:33.1 | I know. |
| 0:33.7 | Like with an upward. |
| 0:34.6 | Yeah. |
| 0:34.8 | But the reality is the BLS, the Bureau Labor Statistics, actually does not even calculate |
| 0:42.4 | underemployment. |
| 0:43.5 | So let's get clear on what underemployment is because I think this is a big deal. |
| 0:48.7 | It is people that are unwilling to work in a low skill or a low-paid job or part-time. |
| 0:56.0 | So in other words, I also read involuntary. |
| 0:59.4 | So under-employment means that like an engineer is delivering pizzas. |
| 1:05.5 | That was one of the examples. |
| 1:07.0 | Like somebody who's gone and gotten a degree. |
| 1:13.0 | And part of this, of of course which we uncovered was yeah the degree issue but you're jumping ahead so let's first under like usual so |
... |
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