Friday, May 07, 2021


+266K, 6.1% unemployment. I'm lazy so I'll wait for someone else to make a pretty graph, but that's a level of net job creation which implies that, if it continued at that rate, we'd return to pre-Covid trend employment levels in...well, never (not really, but a long time).

Bad number! It's a "moderate growth in normal times" not "recovery growth."

All the ghouls will be out blaming expanded UI, even though the labor force is growing faster than the number of jobs.