Relevant and even prescient commentary on news, politics and the economy.

The unemployment rate is not *uniquely* overestimating the “true” employment situation

The unemployment rate is not *uniquely* overestimating the “true” employment situation Bill McBride a/k/a Calculated Risk put up an entry over the weekend positing that the employment situation is worse than the unemployment rate indicates. He bases this on the expectation that the overall labor force was expected to grow by 100,000 a month in 2020 […]

Key phrase to remember

Lifted from an article in the NYT. In the heat of media debates certain fundamental narratives get lost regarding the tools we use to evaluate policies. Pre-occupation with unemplayment is one of them. While familiar to readers of Angry Bear, it bears reminding ourselves that while ‘economics’ attempts to figure out how the economy works, […]