Tyler Cowen shares a note from Twitter:
U.S.A. fact of the day — the dental-led recovery
Published
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I had heard this as well. Whodathunk?
And I don’t think any of these jobs are newly created; I am confident they are people going back to work who were furloughed. Like my son. And his girlfriend.
But it is GOOD news, but it is the nature of the reopening and no one should get credit for a natural occurrence.
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The jobs were lost to regulation and they are returning. Dental offices and non-urgent and elective medical services were shut down to preserve PPEs.
It’s true that the returning jobs are not part of a general growth trend, but then neither were their loss part of a trend.
You can’t assign blame for the losses and not give credit for the gains. Pick one or the other.
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The jobs report, though better than the 20% some analysts were predicting, is not the announced 13%.
“ When the U.S. government’s official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major “error” and the unemployment rate likely should be higher than the widely report 13.3 percent rate.
The special note said that if this misclassification error had not occurred, the “overall unemployment rate would have been about 3 percentage points higher than reported,” meaning the unemployment rate would be about 16.3 percent for May.
The Bureau of Labor Statistics, the agency that puts out the monthly jobs reports, said it was working to fix the problem.”
https://www.stamfordadvocate.com/business/article/The-May-jobs-report-had-misclassification-error-15320999.php
Kind of a big error, but I am sure it will be forgotten after innumerable tweets and repetition of the 13%. Modus operandi.
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Missing or avoiding the point?
The predictions were for significant job LOSSES for May, so a significant INCREASE is good news,
Unless, of course, your only goal is to make Trump look bad, then it has to be spun to be bad,
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Let’s at least have good news at the correct number of 16%. That may sound minor, but at some point people want the truth. And BLS is one of the few departments that has managed to stay above the fray of political partisanship despite Trump.
I seem to recall Trump accusations of BLS fudging the numbers for Obama. It’ll be interesting when it corrects the numbers.
Perhaps it is time to fire another administration person because he made Trump “look foolish”, his oft cited fear.
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All presidents take blame for the bad and take credit for the good. This is even in cases where they have little or no real influence.
Mr. “no responsibility” is above that, however.
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I didn’t blame ANYONE for the losses. You do on a regular basis. I also didn’t give credit to anyone for the RETURN of people to work.
And I’m sorry if you see the need for PPE to be available to front line workers being unnecessary. I guess they should just go ahead and get sick and not be able to take care of those who need it.
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I didn’t say shutting down elective treatments to preserve PPEs was unjustified, only that had a cost in jobs. So, of course now that the shortage has been overcome, those jobs are coming back.
But the left wing media DID, and continues, to blame Trump for those losses but doesn’t give credit for the return.
Pick one or the other
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“Pick one or the other” Your argument is with the media, not me.
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RE: “no one should get credit for a natural occurrence.”
In-group/out-group factors like credit/blame wouldn’t be among my first assumptions.
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Trump took the credit for the uptick in jobs, but blamed everyone else for the losses. I actually said many time that the economic issues are not anyone’s fault.
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