Jobs Data Is Released Friday Morning
Unemployment rate falls to 13.3% from 14.7% the previous month
as staff are recalled
The Drama Erupts
Paul Krugman Doubts Positive Jobs Data
Well, the BLS reports a GAIN in jobs and a FALL in unemployment, which almost nobody saw coming. Maybe it's true, and the BLS is definitely doing its best, but you do have to wonder what's going on. 1/
I've been through a number of episodes over the years in which official numbers tell a story at odds with what more informal evidence suggests; often it turns out that there was something quirky (NOT fraudulent) about the official numbers. 2/
Says Maybe Trump Gotten To BLS
This being the Trump era, you can't completely discount the possibility that they've gotten to the BLS, but it's much more likely that the models used to produce these numbers — they aren't really raw data — have gone haywire in a time of pandemic 3/via
Who Is Paul Krugman?
- Mega columnist for New York Times
- Twitter 4.5+ M Followers
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