Kai Risdahl

Not to borrow a phrase from Jay Powell egregiously, but how does one look through all that to figure out what's really going on, right, looking through the choppiness and the unease and uncertainty?

Not to borrow a phrase from Jay Powell egregiously, but how does one look through all that to figure out what's really going on, right, looking through the choppiness and the unease and uncertainty?

Jordan, last word to you, and we go back to the labor market on this one.

Jordan, last word to you, and we go back to the labor market on this one.

It has to be said that there are, for as good as the data was and for all the things that we've said about it the last six or seven minutes, there are some losers, right?

It has to be said that there are, for as good as the data was and for all the things that we've said about it the last six or seven minutes, there are some losers, right?

I mean, black unemployment is still very elevated, plus 7% or something like that.

I mean, black unemployment is still very elevated, plus 7% or something like that.

The long-term unemployed is up as well.

The long-term unemployed is up as well.

So, you know, there's a cautionary tale in there somewhere.

So, you know, there's a cautionary tale in there somewhere.

Absolutely.

Absolutely.

I mean, the black unemployment is always a canary in the coal mine when it comes to this economy.

I mean, the black unemployment is always a canary in the coal mine when it comes to this economy.

And the fact that it's double what it is for overall unemployment really tells you something.

And the fact that it's double what it is for overall unemployment really tells you something.

So maybe this is also a period of time that we'll see a lot of new companies start.

So maybe this is also a period of time that we'll see a lot of new companies start.