Jobless claims: Another 230,000 Americans filed new claims last week. Higher than expected.

Emil Kalinowski did an absolutely legendary interview/walkthrough of Jeff P Snider's write-up on this, at the start of December, from Jeff's blog:

This talk just drops bombshells on the US bureau of labor statistics, as well as the media for being so blatantly fraudulent on this, and it goes as far back as the 2008 financial crisis.

Jeff has even gone on to write more on this subject in some of his more recent work, but if memory serves me, the meat of it is that there is a counter-intuitive relationship that shows up between the number of job openings and overall workforce participation in broken economies -- which ends up allowing us to build a model for understanding whether and how well the labor market is capable of performing transactions of value for labor.

Cool stuff, but so dearly unsettling.

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