Economist ‘encouraged’ despite jump in area jobless rate:
Kansas City-based BLS economist Linda Nickisch said there was an upside despite the 9.3 to 9.5 percent increase in local unemployment from October to November.
“It’s encouraging because it could mean that more people are out there looking for jobs,” Nickisch said.
It could also mean that in that time period, unemployed people thought that their unemployment benefits were going to end in December and were taking action to get a job, but now that they’ve got another year or so to lollygag about, they’ll get back on the sofa and bring that unemployment number back down.
Economics is the PhD equivalent of going to WheresGeorge.com and using its sample to not only tell where all the dollar bills in the country are right now, but also where they will be in 2 years and 8 days.
Wait until economists start getting laid off — then suddenly we’ll be in a depression.