3 chapters across the catalog
A critique of jobless claims reporting by Krystal Ball and Saagar Enjeti notes their surprise at rising numbers, which the hosts argue is a logical result of renewed lockdowns in states like California. The episode concludes with a reminder of the value-for-value model and a preview of the upcoming Thursday show.
The number 33 is appearing frequently in economic headlines, which the hosts track as a potential code. Recent examples include a 33% increase in Chinese gasoline prices, a 33% jump in GM sales expectations, and U.S. jobless claims hitting a "33-month low." They suggest these specific figures are chosen for symbolic rather than purely statistical reasons.
U6 Unemployment Data, Labor Underutilization
The official U.S. unemployment rate of 9.5% is challenged by the U6 data, which provides a more comprehensive measure of labor underutilization. The U6 figure, which includes discouraged workers and those in involuntary part-time positions, has reached 16.5%. This level of economic distress is compared to the Great Depression, which saw peak unemployment between 25% and 33%.
