The Corner

Economy & Business

Digging into the Jobs Data

The numbers that were just released this morning are consistent with the data (released yesterday morning) on which I reported in a Corner post yesterday. I indicated that the number of jobless claims has been decreasing for nine straight weeks. It is reasonable to think that the number of jobs would increase with this, as people are coming out of lockdown. As more and more people come out of lockdown, we will continue to see an improvement in the job market.

By the way, as I anticipated in yesterday’s column, there are now headlines referring to U.S. jobless claims approaching 43 million (which refers to yesterday’s numbers — the ones I was writing about). As I wrote yesterday, this is a very misleading number. The more relevant number is about half of that.

Steve H. Hanke is a professor of applied economics at the Johns Hopkins University in Baltimore. He is a senior fellow and the director of the Troubled Currencies Project at the Cato Institute in Washington, D.C.


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