President Biden criticized news coverage of the U.S. economy as he faces growing backlash from voters over his handling of inflation. In brief remarks Saturday before boarding the presidential heli…
Don’t put words in my mouth. I never said the data doesn’t match reality. I’m saying the data is reality, or are least the best measure of it we have.
You’re the one insisting that your experiences are the only measure of reality, and since the data doesn’t agree, it must be bullshit, instead of the much more likely explanation that your experiences aren’t typical.
I’m not sure what you’re referring to with the “6 months” thing, but if you’re talking about the inflation rate spiking, the data wasn’t wrong, the interpretation was. The data showed inflation up, every month, but the Fed thought it was “transitory”. Eventually they realized “oh shit” it’s not transitory and took action to bring it down while trying not to cause a recession at the same time. I’m no fan of the Fed in general, but credit where it’s due, it looks like they did a damn good job.
I’m well aware of all the various measures of unemployment, and they’re very good. Both short and long term unemployment are below what used to be considered maximum employment, and have been for a while. Underemployment is historically low. And after controlling for boomers aging out, workforce participation is trending upward. More people are working, more people are working full time, in jobs they’re trained for (as opposed to having to take jobs they’re overqualified for), and their wages are growing faster than inflation.
No, I don’t think there is a vast conspiracy of thousands of federal workers, normal career employees, not political appointees, publishing fake numbers. The raw data is public and so is the origin. No one disagrees on what the numbers are, just what spin to put on it. Often, for political reasons, people will try to put a bad spin on good numbers, or a good spin on shitty numbers, but the numbers themselves are not in question.
I think you’ve been taken in by someone who wants to put a bad spin on good numbers. Numbers so good, if you had told me you thought we’d be here a year ago I would have laughed in your face.
Maybe, just maybe, the people doing well aren’t lying to you, there isn’t a conspiracy of government workers, and things are as all available data suggests.
Pffft, if you think the way the american gov measures the unemployment stat is very good, its maybe not me with the atypical experience. Hard to take you seriously with a statement like that, good lord
What else do you want? There are numbers for short-term, long-term, actively looking, stopped looking, workforce participation, and underemployed both part-time who want full-time and full-time in a low paying job because they can’t find anything in their field. They also have trends and more granular breakdowns in each category.
Enlighten me, what else should be reported? People who wait tables but dream of being a movie star or pro athlete?
Don’t put words in my mouth. I never said the data doesn’t match reality. I’m saying the data is reality, or are least the best measure of it we have.
You’re the one insisting that your experiences are the only measure of reality, and since the data doesn’t agree, it must be bullshit, instead of the much more likely explanation that your experiences aren’t typical.
I’m not sure what you’re referring to with the “6 months” thing, but if you’re talking about the inflation rate spiking, the data wasn’t wrong, the interpretation was. The data showed inflation up, every month, but the Fed thought it was “transitory”. Eventually they realized “oh shit” it’s not transitory and took action to bring it down while trying not to cause a recession at the same time. I’m no fan of the Fed in general, but credit where it’s due, it looks like they did a damn good job.
I’m well aware of all the various measures of unemployment, and they’re very good. Both short and long term unemployment are below what used to be considered maximum employment, and have been for a while. Underemployment is historically low. And after controlling for boomers aging out, workforce participation is trending upward. More people are working, more people are working full time, in jobs they’re trained for (as opposed to having to take jobs they’re overqualified for), and their wages are growing faster than inflation.
No, I don’t think there is a vast conspiracy of thousands of federal workers, normal career employees, not political appointees, publishing fake numbers. The raw data is public and so is the origin. No one disagrees on what the numbers are, just what spin to put on it. Often, for political reasons, people will try to put a bad spin on good numbers, or a good spin on shitty numbers, but the numbers themselves are not in question.
I think you’ve been taken in by someone who wants to put a bad spin on good numbers. Numbers so good, if you had told me you thought we’d be here a year ago I would have laughed in your face.
Maybe, just maybe, the people doing well aren’t lying to you, there isn’t a conspiracy of government workers, and things are as all available data suggests.
Maybe your experiences just aren’t typical.
Pffft, if you think the way the american gov measures the unemployment stat is very good, its maybe not me with the atypical experience. Hard to take you seriously with a statement like that, good lord
What else do you want? There are numbers for short-term, long-term, actively looking, stopped looking, workforce participation, and underemployed both part-time who want full-time and full-time in a low paying job because they can’t find anything in their field. They also have trends and more granular breakdowns in each category.
Enlighten me, what else should be reported? People who wait tables but dream of being a movie star or pro athlete?