A Hockey Stick We Can Believe In

clipped from michaelscomments.wordpress.com In any case, here is the new number for May: 9.4%, which is 0.2% higher than we had shown in the chart from a few days ago:* I recall in 2002-2004, during the “jobless recovery”, whenever claims filed would drop, that was treated as a bad thing by the MSM, because they decreed, ipse dixit, that that was because disspirited workers had just given up looking for work. Ditto for the productivity index. An increase in that was spun as no big deal, since so few people are working, blah blah blah. Now, not so much. Suddenly, this drop in claims is heralded as something good by the MSM. Finally–a hockey stick we can believe in.