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Justin Wolfers

πŸ‘€ Speaker
1964 total appearances

Appearances Over Time

Podcast Appearances

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

My favorite of these, by the way, is Threads now has community notes.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

And there's a post I put out, I mean, in which I say, you know, the economy's going well, blah, blah, blah.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

There's now a Threads community note checking that and saying I'm wrong, quoting a different

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

post by Justin Wolfers.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

So I actually think it's great.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

It's a good reminder for all of us to have a little bit of intellectual flexibility to be willing to change our minds, to be willing to update when the moment demands it.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

I will say to you very directly, there is no evidence whatsoever that this number has been in any way falsified or tampered with.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

No data are perfect.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

This data surely is not perfect.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

It's just an estimate.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

It may later on turn out to be an overestimate.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

But it's a good, honest, totally serious estimate, and we should update our views about the world accordingly.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

Yes, absolutely.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

So there's one sector called healthcare and social services, which has, since Trump became president, has created 901,000 jobs.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

Everything else, every other part of the economy.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

If you're not working in healthcare and social services, the rest of the economy actually has lost jobs.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

On its face, that's a very striking claim.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

And, you know, the last three months has been a little bit more mixed than that.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

But, you know, you never want to go off one month.

Prof G Markets
Why A Hot Jobs Report Spooked Wall Street

So that's why I'm saying, you know, over the past year, it's all been healthcare and social services.