Just showed this graph to someone for the first time. Don't think I did enough to prepare them for what they were about to see.
Nick Bunker
@nick_bunker
Lead Economist, North America, Mastercard Economics Institute. Working dad of three. ❤️ 📈
- Some exciting real-time data: got word this afternoon that there is no more cancer in my body!
- Wife peeks over at my laptop and asks, "What is that ancient website you're looking at?" Folks, it was STATA.
- HAHAHAHAHA After we all expected a terrible payrolls number, payrolls up by 467,000 and unemployment rate at 4%
- I thought the new BoJack Horseman season was released today. It drops next Friday. I haven’t been this sad since the last time I watched BoJack Horseman.
- 'Unretirements' continue to rise. As of April 2022, 3.3% of workers who were retired a year earlier are now employed.
- Folks, it's not a very good "conspiracy" if adding the misclassified data makes the decline look *BETTER*Replying to @ernietedeschiPut another way, last month's unemployment rate "should" have been 19.5%, and this month's "should" be 16.3%, adjusting for misclassifications. So a decline of -3.2pp instead of -1.4pp.
- I am shocked — SHOCKED — to see that fast wage growth made work more attractive for more people and that the corresponding increase in supply cooled wages down a bit.
