“In the first two quarters of 2022 the economy of the United States shrank”.


MN Prager Discussion Group

DECEMBER 21, 2022 BY JOHN HINDERAKER at Power Line:

WHAT’S HAPPENING WITH THE JOB NUMBERS?

I wrotehereabout the fact that the federal government seems to have cranked out absurdly optimistic job numbers just in time to give the Democrats a boost in the midterms. But that isn’t the only puzzle in current job data. It turns out that America’s employment situation is a bit of a mystery. I asked my colleagueJohn Phelanto explain what is going on. This is his response.

In the first two quarters of 2022 the economy of the United States shrank. Under previous administrations a recession would have been declared instantly, but not this time. How could there be a recession,some argued, when employment was booming?

These estimates of the number of new jobs in the United States come from the Bureau of Labor Statistics’ (BLS)Establishmentsurvey. AsBusiness…

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