The official jobs report was disappointing and it was quite a bit off from what the ADP report said.
One month doesn't make a trend and we'll have to see if there is a slowdown in hiring.
Some of the reports had short term impetus from tax cuts anticipation but it always ultimately depends on whether there is a market for what you are selling.
When more money goes into buying gas or energy because of a cold spring and multiple storms it reduces some spending.
Of course we are seeing economic policies being deployed that are not likely to increase demand with the imposition of tariffs that will increase costs.
Most of the things that economists measure are really marginal factors.
Take the difference between high unemployment and low unemployment.
If unemployment was to rise to 10% from the current levels it would mean an additional 6% of the workforce was unemployed with that impact on taxes, unemployment benefits, consumption, etc.
Yet 90% of us would still be working as opposed to the previous 96%.
Still a change like that would most likely be the result of a recession or would tip us into one.
Most people live through recessions and upticks in the economy without actually much change to their regular lives.
They may read about the issues and possibly see changes in prices or other things like interest rates, but unless you are one of the 6% it hardly matters.
It is of course pretty devastating for that 6%, but its still only a small number of the total.
If no one told us things were bad we might not even notice.
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