Why wasn't the "vibecession" a thing when Trump was POTUS?

[leonardothered]

Although the stock market is booming and people are rating their personal financial situation as better than ever, most people believe that the economy at-large is doing badly and blame Biden for this. A similar "vibecession" (although not nearly to the same extent) occurred during the latter years of the Obama administration, when the economy greatly improved but the vibes did not. However, when Trump was POTUS, people widely believed it was the best economy ever despite the economy merely maintaining its growth rate during the latter Obama years. Is it because Trump is a Republican? Is it because people subconsciously perceive the right as good at more "masculine" issues such as the economy and defense, while the left is good at more "feminine" issues such as education and the environment?

Probably because the 'economy' has no relevant effect on the lower 44% of the country. As a hardcore 'Biden is doing aight considering he cant pass legislation' its mostly irrelevant to how I live my life outside of how much an abortion costs and healthcare, Ive never understood why people care about 'the economy' outside of immediate retirement plans.

[Upper Canada Tory]

The left very much tried to manifest a Trump recession.  Remember Alexandria “unemployment is so low because everyone is working two jobs” Ocasio-Cortez?

For many American's, working 2+ jobs is the only reason they aren't in poverty.

What percentage of Americans is 'many'? According to data by the Department of Labor, 5% of Americans have more than one job and this is a relative high compared to recent years due to the inflation, so working two jobs doesn't seem to be a common occurrence.

https://www.usatoday.com/story/money/2023/11/03/more-americans-working-multiple-jobs-under-inflation/71441008007/

In addition to this, the problem with AOC's comment was that having a second job does not affect the unemployment rate - the unemployed are people who are currently members of the labour force, however do not have a job and are looking for one.

[Beet]

I don't know, but the monthly mortgage payment today is twice as much as it was under Trump for the same priced house, and the price of houses, excuse me, the "value of homes" has gone up tremendously. Sucks if you want to buy or trade up. And if you already own but want to continue living in your current house, the only change you see is higher property taxes.

Other sorts of interest rates are also higher, which affects everything from credit cards to student loans and auto loans.

Add to that, a lot of people are now afraid that AI is going to take their jobs, or their careers in the future.

[AlterEgo]

What percentage of Americans is 'many'? According to data by the Department of Labor, 5% of Americans have more than one job and this is a relative high compared to recent years due to the inflation, so working two jobs doesn't seem to be a common occurrence.

https://www.usatoday.com/story/money/2023/11/03/more-americans-working-multiple-jobs-under-inflation/71441008007/

In addition to this, the problem with AOC's comment was that having a second job does not affect the unemployment rate - the unemployed are people who are currently members of the labour force, however do not have a job and are looking for one.

Idk. If you Google it, surveys show anywhere from 34-50% of Americans have a "side hustle." Does DOL count that as a second "job?" Are a significant amount of these cash payments and not reported?

[Upper Canada Tory]

What percentage of Americans is 'many'? According to data by the Department of Labor, 5% of Americans have more than one job and this is a relative high compared to recent years due to the inflation, so working two jobs doesn't seem to be a common occurrence.

https://www.usatoday.com/story/money/2023/11/03/more-americans-working-multiple-jobs-under-inflation/71441008007/

In addition to this, the problem with AOC's comment was that having a second job does not affect the unemployment rate - the unemployed are people who are currently members of the labour force, however do not have a job and are looking for one.

Idk. If you Google it, surveys show anywhere from 34-50% of Americans have a "side hustle." Does DOL count that as a second "job?" Are a significant amount of these cash payments and not reported?

Maybe, but these are not comprehensive surveys of the labour force like DoL stats are. These are usually private companies asking Americans over the age of 18 if they have a 'side hustle' (do we know if these Americans are employed or not, is the term 'side hustle' defined in the survey, etc.? Asking the question in this way may include students and retired people that are not normally employed but maybe earn money doing something on the side).

For stats regarding the labour force, DoL is typically the best way to go.

[Electric Circus]

What percentage of Americans is 'many'? According to data by the Department of Labor, 5% of Americans have more than one job and this is a relative high compared to recent years due to the inflation, so working two jobs doesn't seem to be a common occurrence.

https://www.usatoday.com/story/money/2023/11/03/more-americans-working-multiple-jobs-under-inflation/71441008007/

In addition to this, the problem with AOC's comment was that having a second job does not affect the unemployment rate - the unemployed are people who are currently members of the labour force, however do not have a job and are looking for one.

Idk. If you Google it, surveys show anywhere from 34-50% of Americans have a "side hustle." Does DOL count that as a second "job?" Are a significant amount of these cash payments and not reported?

Maybe, but these are not comprehensive surveys of the labour force like DoL stats are. These are usually private companies asking Americans over the age of 18 if they have a 'side hustle' (do we know if these Americans are employed or not, is the term 'side hustle' defined in the survey, etc.? Asking the question in this way may include students and retired people that are not normally employed but maybe earn money doing something on the side).

For stats regarding the labour force, DoL is typically the best way to go.

The problem with this standard is that multiple jobs only rarely means multiple W-2s. I've never seen a solid number on this, but it's a common arrangement in some communities, and I would not expect most federal numbers to have a handle on how much happens outside of the formal labor market. Granted, this usually isn't a sign of acute economic distress. People have lots of reasons for supplementing their primary income.