Here We Go Again: Following Big Payroll Miss It’s The Level Of Hiring, Not Job Openings

The balance of evidence, on the contrary, strongly suggests what’s actually red hot are again the fictional interpretations. What we’ll have to endure are claims that consistently low hire rates, like bond yields, cannot possibly mean what they obviously do, and did each of the last few times we opened this same can of worms.

What we do know with reliable certainty is that the economy and labor market are each improving, but at this stage this late into the recession it only leaves us asking the question why isn’t it improving so much more, faster, and unambiguously?

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