U.S. Bureau of Labor Statistics announces decline in unemployment rate from 7.9% to 6.9% over the last month, beats expectations

[resjudicata]

@chotkisteve Milton Friedman is a hack who knows less about the economy than michael scott. Supply side economics is voodoo psuedoscience

 

[adversa]

@nibes https://www.jobqualityindex.com/

 

[kinchiimura555]

@emmanie That was actually the precisely right time for those types of comments... We have employment data that goes back roughly a century. The labor market is cyclical. When it gets as tight as it was from 2017-2019, those "Goldilocks" conditions tend not to last very long. If it wasn't COVID, it would have been something else soon enough.

 

[katielouise90]

@robert2032 I was literally just thinking that when I read his comment. It's like there cannot be a positive right now.

 

[joshualiley]

@robert2032 Not an armchair economist, literally a corporate manager for a Fortune 500 company who does this stuff for a living. Also not saying things are better or worse than anything. Didn't push any agenda. Just stated an actual fact. Take it for what you want.

 

[robert2032]

@joshualiley Idk what “this stuff” is but when people wish to discuss unemployment from an economic perspective they generally look at the various measures of unemployment, U6 directly captures the trend you mention so it would be a far better measure than “a laundry list of friends”.

I’m not trying to be slight here, just pointing out what bad reasoning looks like so that readers can understand numbers>anecdotes.

Anyway U6 is also trending down which would indicate as a whole people are returning to work closer to their appropriate pay/hours.

 

[joshualiley]

@robert2032 This stuff would be payroll, finances, everything that goes into running a business, I won't bore you with my day to day. The problem is that a lot of people don't have the experience to discuss the nuances of a complex topic like unemployment. Some (not all) will look at statistics like the posted and default to unemployment down, everything good. When of course the issue goes deeper than that. Be bullish, bearish, I don't really care either way. I'm only sharing what's going on inside a few national companies, as a general purpose statement for anyone who feels compelled to dig a little deeper than making broad stroke assumptions about "unemployment down."

 

[robert2032]

@joshualiley So right back to where we started, using your limited worldview to dismiss extremely robust labor statistics.

 

[joshualiley]

@robert2032 Take it for what you will. I'm not dismissing anything, just providing insight beyond where you're willing to go. Good luck man.