– by New Deal democrat
First, a brief programming note. This week is particularly sparse in the new economic data department. The Senior Loan Officer Survey will be reported this afternoon, and on Thursday as usual we get jobless claims. Aside from that, nada.
So I might take a day or two off.
But I want to spend some time looking more closely at last Friday’s jobs report(s). I use the plural, because last Friday there really were two very divergent reports. The Establishment report was decent, but as I say in the title to this post, for the second time in three months, the Household Report was what I would expect to see in a recession.
Let’s start by comparing the employment level (blue) with the unemployment level (red). The former did
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