01-26-2018, 05:33 PM
I'll add that I was shocked - and very excited - to see a member of Trump's team (can't remember who) talking to the press actually DOWNPLAYING the latest economic news....said they need to increase labor participation and increase wages!!!!
My jaw dropped. You just don't see that. Labor participation was pretty much ignored [and excused] by the Obama administration. All we heard about was the phony employment numbers and touting tepid growth as the "new normal" while patting oneself on the back for avoiding a recession that had pretty much bottomed before he took office.
That's 100% correct. Labor participation and wages should follow economic growth. But those are the two numbers that tell you about the quality and dispersion of that growth - 2.5% CAN be better, or at least more equitable, than 3.5% growth.
My jaw dropped. You just don't see that. Labor participation was pretty much ignored [and excused] by the Obama administration. All we heard about was the phony employment numbers and touting tepid growth as the "new normal" while patting oneself on the back for avoiding a recession that had pretty much bottomed before he took office.
That's 100% correct. Labor participation and wages should follow economic growth. But those are the two numbers that tell you about the quality and dispersion of that growth - 2.5% CAN be better, or at least more equitable, than 3.5% growth.
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