This morning’s news is all about the February job report, which is favourable. In under an hour after the release of the report, Sean Spicer broke the Office of Management and Budget’s Statistical Policy Directive No. 3, which states that “employees of the Executive Branch shall not comment publicly on the data until at least one hour after the official release time.” But of course, the Trump administration could hardly wait to take credit, even though the credit is not truly theirs to take. Fellow-blogger Erik Hare, writing as Barataria, is my ‘go-to’ person for economic insight, and as always, he is one step ahead of the game with his analysis of this morning’s news, so I am sharing his post with you today. Thank you Erik, as always, for your valuable insight!
By the time you read this, the big news is likely to be jobs. It hasn’t been a hot topic since the election, and most of what was said during that strange period wasn’t exactly true. The big job gains for February, along with a large round-up for January, make it impossible to ignore.
The economy has definitely turned around.
It’s all over but the shouting, of which there will be a lot. There is little doubt that Republicans will claim credit for a big turnaround in 2017, which will be utter crap. This has been a long time in the making and things have not been actually bad for a long time. Nevermind. Positive news will feed on itself and everyone will be happier.
But there is one final twist to the very good news – it’s really in the adjustment.
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