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The patience to respond to clearly wrong ideas slowly and with as much generosity as possible is a wonderful trait

I'm sorry sir, you are incorrect

economistwritingeveryday.com/2024/01/24/you…

This is beyond classic. The Senate will soon consider the 'Eliminate Useless Reports Act,' which requires agencies to create a report of all the useless reports they are required to create. govtrack.us/congress/bills…

The prime working age employment-population ratio is 80.8%, the same as right before the pandemic, and the highest in US history other than the late 1990s

It's easy to project a pre-pandemic trend forward, but that would imply an 83% prime age EPOP -- never seen in US history

Employ America A 'soft' print, but only relative to the last few months. 175k is still respectable, prime-age epop increased, wage growth decelerated (but it's just one month so far, let's wait and see). Quits and hires continue to fall.

While Trump claims most Americans live paycheck to paycheck, Matt Darling 🌐🏗️ reveals the truth: Over half have substantial savings, based on Federal Reserve data. buff.ly/4dinxWV

I need someone to turn this quote from Austan Goolsbee into a Ted Lasso Diamond Dogs scene

Hey! Have you encountered or conducted any research that evaluates the effects of a government policy or business practice on worker or firm productivity? If so, please share it with me!

Matt Darling 🌐🏗️ As usual, though, the 'hidden strength of labor market' isn't fitting anyone's agenda so no one wants to notice it.

I see people saying that the stock market is celebrating 'people losing their jobs.'

That's not what happened. There was no real change in layoffs or unemployment. A small change three decimals out changed rounding.

We added 175,000 jobs in April. That would look like a very…

The imminent recession economists were unanimously predicting has featured 27 straight months of sub 4% unemployment—the longest stretch in more than 50 years—and wages rising substantially faster than prices, especially for middle- and lower-income people.

Big drop in part time work as a percentage of all workers.

Suggests we are not accelerating above the pre-pandemic level, which some folks had expressed concern about.

Worth noting that the gap in unemployment rate between people with and without college degrees remains high.

College degree unemployment: 2.2%
High school degree unemployment: 4%