I just saw on local news in MN that unemployment here is better than before COVID-19 with the state unemployment at 3.5%.
Still slightly off the recent national low of 3.5% in Feb'20, but we are basically back to "full" employment. It's a strong job market now with strong demand and need for more workers. Civilian unemployment rate (bls.gov)
Fwiw so-called MSM during this is still running stories about stagflation. @Os Trigonum @Trader_Jorge
https://www.cnbc.com/2021/12/03/jobs-report-november-2021.html Nonfarm payrolls increased by 210,000 in November, following a gain of 546,000 the previous month. The number was well below Wall Street expectations of 573,000. Despite the big hiring miss, the unemployment rate fell to 4.2%, a 0.4% percentage point decline that came even with rising labor force participation. Professional and business services and transportation and warehousing led gains, while hiring in leisure and hospitality was sluggish and retail lost jobs despite the traditional holiday hiring season. it is a BIG miss, giving the Biden admin more political/econ ammunition to push for the passage of BBB (Buiid Back Better) bill https://www.whitehouse.gov/build-back-better/
Payroll survey has 200,000, household survey has 1 million Payroll will get revised upward, household downward. Articles about "big hiring miss" will not get revised at all becuase the press does a horrible job covering these data points regardless of who is president. And you'll still see articles this month about "stagflation" despite job/gdp growth and unemployment heading to new record lows.
A few weeks ago, we saw corrections that added 620k+ job. These snapshot in a pandemic is unreliable, but yes, the media will run with those labels.
Well, it's not that either. As bad as media is, the freedom of the press is extremely important for a free society. Trump and his supporters do not value such a society when they attack the press and call them the enemy of the people, when in fact it's the opposite. Yes, I'm talking about Trump and his supporters again.
Oh, yea, we got a problem and it's a serious one. Trump and his supporters (most of them unknowingly) are on their path to destroying our democracy.
Having graduated and starting my career during the Financial Crisis, this is a much better situation than no jobs. A little overboard on the fiscal side this time, but jobs are better than no jobs.
