Put this guy on suicide watch because he’s seriously losing his mind.
Here’s what Krugman had to say about today’s dismal job report:
The headline number came in a bit below expectations, but that’s probably just the noisiness in the data. The best hypothesis about the US economy this past year and more is that it has been steadily adding jobs at a pace roughly fast enough to keep up with but not get ahead of population growth. Today’s report was consistent with a continuation of that story. Nothing to see here.
Just, wow. Perhaps not surprising, Krugman’s loyal followers are cheering this “analysis.”
“I’ll take +90K over -800K any day,” writes Kevin Brock from Waynesville, N.C.
A2er from Ann Arbor, Mich. adds: ”It would have been nice if the Republicans had been willing to vote for a stimulus — but nope; never in election year. Politics over people of course.” …You know, because that first stimulus worked out so well.
And finally, JC in Cleveland suggests that people are dropping out of the workforce because the economy is doing so well:
Conservatives have argued that the unemployment rate is a product of people dropping out of the labor market.
I’m not sure that people dropping out the labor force is necessarily a sign of desperation. Generally in good economic times, family members will drop out of the labor force. In hard times, there is pressure for everyone in a household to get a job.
Excuse me while I go repeatedly bash my head into a wall.