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JOLTS, Services, Rails, Eurozone GDP

Summary:
Note the yellow line, job openings, which peaked with the tariffs and then full further with covid: The non manufacturing index peaked with the implementation of the tariffs, well before covid hit. And employment growth is still negative: Same with rails- turned down with the tariffs well before covid, and then went lower: “The European Commission lowered its GDP forecasts for 2020 and 2021, saying that the lifting of COVID-19 lockdown measures in some countries was proceeding less swiftly than it had initially predicted. The EU executive said the bloc would shrink by a record 8.7 percent this year, before rebounding by 6.1 percent in 2021, compared with early May estimates of a 7.7 percent contraction in 2020 and a 6.3 percent recovery next year.”

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Note the yellow line, job openings, which peaked with the tariffs and then full further with covid:

JOLTS, Services, Rails, Eurozone GDP

The non manufacturing index peaked with the implementation of the tariffs, well before covid hit. And employment growth is still negative:

JOLTS, Services, Rails, Eurozone GDP

Same with rails- turned down with the tariffs well before covid, and then went lower:

JOLTS, Services, Rails, Eurozone GDP

“The European Commission lowered its GDP forecasts for 2020 and 2021, saying that the lifting of COVID-19 lockdown measures in some countries was proceeding less swiftly than it had initially predicted. The EU executive said the bloc would shrink by a record 8.7 percent this year, before rebounding by 6.1 percent in 2021, compared with early May estimates of a 7.7 percent contraction in 2020 and a 6.3 percent recovery next year.”

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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