The Economist magazine states that "the covid-19 crisis is highlighting the limits of unemployment-insurance figures" and therefore "jobless-claims data give little insight into America’s economy". Jeff Snider reacts
Live! to the article and offers his own thoughts.
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----EPISODE #69 TOPICS----
01:34 The Economist finds some of the unemployment data in the United States unbelievable
03:32 The 80 million claims filed last year does not mean that 80 million were unemployed
05:09 The Economist implies that because the 80M is preposterous the other labor stats are too
07:34 It is legitimate to acknowledge distortions to the labor stats; there are anomalies
09:32 Many economic accounts indicate that bad news in unemployment is perfectly reasonable
10:22 The jobless claims / labor market is improving over recent weeks.
13:13 Is there a clearly, unambiguous positive economic metric in the US economy?
--------REFERENCES--------
Why jobless-claims data give little insight into America’s economy: https://econ.st/3xzZn5r
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7
---------WHO-----------
Jeff Snider, Head of Global Investment Research for Alhambra Investments with
Emil Kalinowski. Art by
David Parkins. Podcast intro/outro is "
Rollerblade" by
Arc De Soleil at
Epidemic Sound.