Things þt went whizzing by þt I want to remember... Cecilia Rouse & al.: Distinguishing Between Signal & Noise in Recent Jobs Data: ‘The onset of the COVID–19 pandemic resulted in historically large job losses, and its retreat this spring has allowed millions of Americans to return to work. On average since January 2021, the U.S. has added about 500,000 new jobs per month. However, job growth has also been noticeably volatile month-to-month since January. This volatility in job growth during the pandemic reflects both real volatility—economic reverberations of the pandemic shock—as well as heightened measurement error due to the challenge of collecting statistical data amidst a pandemic. These considerations warn against placing too much weight on any single data point in assessing the current state of the economy, even as the worst of the pandemic in the U.S. fades away… LINK: <https://www.whitehouse.gov/cea/blog/2021/06/29/distinguishing-between-signal-and-noise-in-recent-jobs-data/>
Briefly Noted: For 2021-07-01 Th
Briefly Noted: For 2021-07-01 Th
Briefly Noted: For 2021-07-01 Th
Things þt went whizzing by þt I want to remember... Cecilia Rouse & al.: Distinguishing Between Signal & Noise in Recent Jobs Data: ‘The onset of the COVID–19 pandemic resulted in historically large job losses, and its retreat this spring has allowed millions of Americans to return to work. On average since January 2021, the U.S. has added about 500,000 new jobs per month. However, job growth has also been noticeably volatile month-to-month since January. This volatility in job growth during the pandemic reflects both real volatility—economic reverberations of the pandemic shock—as well as heightened measurement error due to the challenge of collecting statistical data amidst a pandemic. These considerations warn against placing too much weight on any single data point in assessing the current state of the economy, even as the worst of the pandemic in the U.S. fades away… LINK: <https://www.whitehouse.gov/cea/blog/2021/06/29/distinguishing-between-signal-and-noise-in-recent-jobs-data/>