🧵 RT @[email protected]: "Last year involved the biggest mis-reading of the economy in my lifetime."

https://threadreaderapp.com/thread/1621501534608527361.html

Thread by @JustinWolfers on Thread Reader App

@JustinWolfers: Non-farm payrolls added a cracking 517,000 jobs in January, well above market expectations of +190k. This is a breathtaking number. That spike in stories about layoffs? It was about a small unreprese...…

What you were told, nonstop, by the national media, about the economy vs what was actually happening were completely at odds with each other. We completely and totally lost the plot. Which was actually evident a full year ago (https://www.intereconomics.eu/contents/year/2022/number/1/article/an-unprecedented-recovery-why-have-we-lost-the-plot.html), but we kept losing it, anyway.

https://mastodon.social/@mcopelov/109755930239086331

An Unprecedented Recovery: Why Have We Lost the Plot?

Intereconomics is an academic journal that publishes articles by experts on current economic and social policy issues affecting Europe.

Intereconomics