Saturday, June 03, 2006
So while newspapers caterwaul (is that a word?) about yesterday's employment report, and the usual dismal scientists get dismal, perhaps the pictures that actually appear on the report itself would provide you a little perspective. Now, what exactly is the problem again? Oh yes, each individual number has to be judged against a yardstick. 75,000 ain't 200,000, so we're doomed! Doomed! I tell you!
Spare me. Or at least, give me three months of under 100,000 before going Cassandra. Kash isn't there yet, but he's toeing the line.
Now, Barry's graph is interesting and worth explaining: Why has each successive expansion generated fewer jobs than the previous one since 1975? But that's far, far different a discussion than the doom and gloomers.