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All of the job losses since Feb 2020 now have been made up, and then some.


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  • b_m_b_m_b_m changed the title to All of the job losses since Feb 2020 now have been made up, and then some.

Very strange times.

 

Two quarters of declining GDP, yet the labor market's red-hot.  I don't think anyone really knows exactly what's going on.  Obviously the supply-chain bottlenecks and structural imbalances created by the pandemic are part of it, but it's not clear what the exact effects are.  Is unemployment artificially low? Is inflation artificially high?

 

I don't think anyone can honestly say for certain. This is the kind of weird economic incoherence you usually only see during huge war mobilizations.

 

But I'm glad it's giving workers some freedom and bargaining power for now.  Long overdue. 

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51 minutes ago, Jason said:

I think there's probably something to the idea that people are manifesting a recession because they keep being told there's a recession. 

 

Even with record profits, I'm sure there's also a great number of investors also unhappy with rising wages and worry it'll eat into dividends and buybacks.

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