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VIDEO: Unemployment, Explained (Patreon)

Published:
2023-02-27 13:02:22
Imported:
2026-06
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Content

Apparently I do macro economics explainers every couple of months. One of our story producers just finished his thesis in economics and has been an amazing resource for helping me refresh my econ fundamentals from the old university days. I hope you enjoy the video and let me know what econ topic you’d like to see us tackle next.

- Johnny

Files

Previews only

Unemployment, Explained

WTF is Unemployment? Get a 4-week trial, free postage, and a digital scale at https://stamps.com/johnnyharris. Thanks to Stamps.com for sponsoring this video! Unemployment is a bigger deal than any of us realize. If you dive into the economics of it you’ll see why politicians and news anchors are always freaking out about it. Here’s my best explanation in 15 minutes. Get my videos a week early! In the next video, I explore why the lottery is a SCAM. Go to Nebula now and get notified as soon as it's released (a portion of your subscription goes directly to support our channel): https://nebula.tv/johnnyharris Check out all my sources for this video here: https://docs.google.com/document/d/1EMzTZDEDIboc4HaTJO54MIxQOS_AS23TBK1dSL9T8dI/edit?usp=sharing Get access to behind-the-scenes vlogs, my scripts, and extended interviews over at https://www.patreon.com/johnnyharris Custom Presets & LUTs [what we use]: https://store.dftba.com/products/johnny-iz-luts-and-presets About: Johnny Harris is an Emmy-winning independent journalist and contributor to the New York Times. Based in Washington, DC, Harris reports on interesting trends and stories domestically and around the globe, publishing to his audience of over 3.5 million on Youtube. Harris produced and hosted the twice Emmy-nominated series Borders for Vox Media. His visual style blends motion graphics with cinematic videography to create content that explains complex issues in relatable ways. - press - NYTimes: https://www.nytimes.com/2021/11/09/opinion/democrats-blue-states-legislation.html NYTimes: https://www.nytimes.com/video/opinion/100000007358968/covid-pandemic-us-response.html Vox Borders: https://www.youtube.com/watch?v=hLrFyjGZ9NU NPR Planet Money: https://www.npr.org/transcripts/1072164745 - where to find me - Instagram: https://www.instagram.com/johnny.harris/ Tiktok: https://www.tiktok.com/@johnny.harris Facebook: https://www.facebook.com/JohnnyHarrisVox Iz's (my wife’s) channel: https://www.youtube.com/iz-harris - how i make my videos - Tom Fox makes my music, work with him here: https://tfbeats.com/ I make maps using this AE Plugin: https://aescripts.com/geolayers/?aff=77 All the gear I use: https://www.izharris.com/gear-guide - my courses - Learn a language: https://brighttrip.com/course/language/ Visual storytelling: https://www.brighttrip.com/courses/visual-storytelling

Comments

Randy Philipp

I am in the middle of watching this, and I had a question, what are the economics of loyalty cards? I saw a number of loyalty prices on products.

Harris Ananiadis

Just watched the episode. Big thanks to you and your team for creating such explainers. Not only it looks good and helps to understand complex topics like unemployment, but it also made me feel a little bit more confident when it comes to job seeking. I mean when you kinda understand how the sistem works (or does not work) you can expext and predict things, not just wondering why it's hard to find a decend job. 3 years ago I had to move from Grece to Cyprus to get a better job offers but now I feel it also happening in Cyprus so iI guess it's a global tendency.

Abel Laflamme

Good episode! But you missed a very important problem in the modern economy. You said Prices act like a signal, and Wages are Prices for human labor. But Wages are rarely disclosed. They can't act as a signal to the economy if it's never disclosed in a job posting, or if it's taboo to talk about how much we make. This obfuscation is a big problem to the so-called self-regulation of the market. How can companies claim to have competitive wages if no one knows what are the wages?

MrC402

Another banger video as always

Walt Dennig

How long does a person remain on the unemployment rolls before no longer being counted?

LSP

Hey Johnny, congrats for the video. You should make a video explaining the origins of private property. It's different from what everyone think it was. Here are two great books about it: 1- The Prehistory of Private Property, by Karl Widerquist and Grant S. McCall 2- Property and Freedom, by Richard Pipes You would also like A Splendid Exchange, by William Bernstein and Money Changes Everything, by Williamn Goetzmann. They're not focused on the topic itself, but cover a lot of things related to it.

LSP
>>102859528

A company spends money to make people buy their product. We call it "CAC" (Customer Acquisition Cost). Imagine it costs the company $ 1 to give a loyalty card and each card makes sales increase by $ 2. Now, imagine that for each $ 1 that it spends in ads to convince new customers to buy its products the company makes only $ 1,5. In this case, it's worth to spend the money giving loyalty cards.

Liv Amanita

Loving the economics videos. Have gained such a better understanding of the system and how it works. How is the employment rate measured in the states? Is there a minimum requirement for hours worked in order to be considered employed or is someone who works as little as one hour a week deemed employed and therefore not entitled to any government benefits?