Over at PostEverything. Key points: Clearly, this economic recovery has evolved too slowly and is still not reaching enough of us. Just as clearly, it is improving, particularly in the job market. I stress both these themes in my recent testimony before the Joint Economic Committee (JEC). But based on a June spike in the monthly number… Read more
Solid jobs report today, no question. I liked the headline payroll number of 288K, along with the recent acceleration in smoothed job growth you see in the figure here. There’s still too much slack in the job market–that’s the theme of what follows–but the way to squeeze that out is with many more reports like todays…. Read more
Especially not while we’ve got a bit of mo’ in the job market. Over at PostEverything.
Payrolls were up 288,000 and the unemployment rate ticked down to a near six-year low of 6.1% last month, according to today’s employment report from the BLS (a rare Thursday edition due to the holiday weekend). It’s an unquestionably strong report, with industries across the economy posting job gains. Adding to the positive news, job… Read more
I often cite the great New Orleans pianist/composer at moments like this, when the economic data are jumping around this way and that. Most analysts, myself included, agreed that first quarter GDP was a large outlier, but not to put too fine a point on it, that -2.9% was just a crap number (here’s my… Read more