7.8%?
Is this a fix? Not a chance.
We respect Jack Welch but on this occasion – claiming today’s number was gamed by the Obama camp - he came untethered.
The truth is that the 7.8% is part quirk, due to sampling volatility, and, part due to a declining labor force the past year (1.1MM folks disappeared).
There is no change in the labor picture – consistent with about 1.8% growth.
There will be a change in the labor picture however given the end to Obama’s interventionist policies.
Robert Craven
Is this a fix? Not a chance.
We respect Jack Welch but on this occasion – claiming today’s number was gamed by the Obama camp - he came untethered.
The truth is that the 7.8% is part quirk, due to sampling volatility, and, part due to a declining labor force the past year (1.1MM folks disappeared).
There is no change in the labor picture – consistent with about 1.8% growth.
There will be a change in the labor picture however given the end to Obama’s interventionist policies.
Robert Craven
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