Post by robeiae on Jun 5, 2020 8:46:16 GMT -5
Latest job numbers are surprising (shocking, really): finance.yahoo.com/news/u-jobless-rate-unexpectedly-fell-123601431.html
And importantly (you'll see why):
Nonel-prize-winning-economist Paul Krugman's take:
So according to Krugman, for those following at home, the BLS numbers reflect some unknown and unidentifiable error in the process of compiling them (an error which apparently didn't exist in any previous reports), or Trump's people have "gotten to the BLS." But either way--or even of the numbers are right--this isn't good economic news, it's bad economic news.
And the sheeple on the left are actually agreeing with this take. Anyone who bought into the birther nonsense was a mo-ron, but anyone who says--with a straight face--that a decrease in the unemployment rate is bad news for the economy is every bit as much of a mo-ron. Imo.
Oh, and the Canada numbers: did Trump get to the Canadian data, too? Or is Canada's data all effed up for the same mysterious reasons?
America’s labor market defied forecasts for a Depression-style surge in unemployment by rebounding in May, signaling the economy is picking up faster than anticipated from the coronavirus-inflicted recession.
A key gauge of payrolls rose by 2.5 million, trouncing forecasts for a sharp decline following a 20.7 million tumble the prior month that was the largest in records back to 1939, according to Labor Department data Friday. The jobless rate fell to 13.3% from 14.7%.
A key gauge of payrolls rose by 2.5 million, trouncing forecasts for a sharp decline following a 20.7 million tumble the prior month that was the largest in records back to 1939, according to Labor Department data Friday. The jobless rate fell to 13.3% from 14.7%.
And importantly (you'll see why):
The unexpected improvement wasn’t limited to the U.S. figures. North of the border, Canadian employment rose 290,000 in May, compared with forecasts of a 500,000 slump, its statistics office reported Friday.
Nonel-prize-winning-economist Paul Krugman's take:
So according to Krugman, for those following at home, the BLS numbers reflect some unknown and unidentifiable error in the process of compiling them (an error which apparently didn't exist in any previous reports), or Trump's people have "gotten to the BLS." But either way--or even of the numbers are right--this isn't good economic news, it's bad economic news.
And the sheeple on the left are actually agreeing with this take. Anyone who bought into the birther nonsense was a mo-ron, but anyone who says--with a straight face--that a decrease in the unemployment rate is bad news for the economy is every bit as much of a mo-ron. Imo.
Oh, and the Canada numbers: did Trump get to the Canadian data, too? Or is Canada's data all effed up for the same mysterious reasons?
