So, kinda big news:
Remember all those vaguely disappointing job reports extending back to April, where the numbers were positive, but not great?
I saw a few economic minds of the saner variety posit this exact scenario – upward revisions over time, and strong numbers overall by mid summer. We’re still going to see plenty of “Bob’s Burger Barn can’t hire workers at the below subsistence wages they’re willing to pay” stories because that’s the baked-in media narrative now…but the data now suggests pretty strongly that people are going back to work in droves.
Marketplace had an interesting story in which states that ended their unemployment benefits early gained fewer jobs then states that kept the unemployment benefits going.
The economist pointed out that correlation isn’t causation, but did point out that increased unemployment benefits didn’t seem to be linked with increased unemployment.
Not that the people who need to hear that message will ever hear that message.
Robust jobs report?
Take a victory lap on Fox News, Grampy Joe
Thrag
3689
I was just about to post that. I love it.
I mean you know that morning he and Jill has some jokes about it. “Do you think I should roll out the tan suit for this one?”
KevinC
3690
A tan suit?!?!?! Noooooooooooooooo!!!
Does his tie have little 4 leaf clovers on it ?
I can’t tell. But it would be kind of cool (and totally on brand) if it did!
Banzai
3695
looks like devil weed i reckon
meanwhile
"Gas prices jump to highest price in nearly 7 years"
Sometimes I don’t speak right
Yet I know what I’m talking about.
Passing any legislation in a bipartisan manner is an accomplishment – especially when it isn’t a complete “Oh shit, we gotta do something” emergency bill (like TARP or various legislation related to Covid). Getting a $1 trillion infrastructure plan through is some good work, especially if they can pass a reconciliation bill this fall.
Canuck
3701
I thought it was a 3.5 trillion plan?
That’s the Dem’s bill that will be passed through reconciliation. The bipartisan bill is smaller.
EDIT:
It isn’t “optimism”. This was the final cloture vote on filibuster to close debate on the bill so that it may be brought to the floor for a final up/down vote. The senate voted 67-27 to end any filibuster, a sizable margin.
The reason a final vote in the senate hasn’t been scheduled yet is likely due to Chuck Schumer polling his caucus to ensure that he’ll have 50 democrats present, or a procedure for registering their votes available, just in case. The final vote is expected within days, however. We’ll see, but this appears headed to the House. There will be some vigorous tree-shaking there, but Nancy Pelosi has a history of delivering the House Democrats when they’re needed.
Canuck
3705
Hopefully it all comes to pass. In our current political climate, just getting anything passed is essentially a win. The administration needs to look like they’re getting things accomplished, even if the numbers aren’t what they were hoping they would be. It’s all a messaging game.
