‘No recession’: Economists elated over ‘amazing’ jobs report — and blast media’s ‘anti-Biden narrative’

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‘No recession’: Economists elated over ‘amazing’ jobs report — and blast media’s ‘anti-Biden narrative’
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‘No recession’: Economists elated over ‘amazing’ jobs report — and blast media’s ‘anti-Biden narrative’
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Cable TV networks and news media outlets grabbed Friday morning’s September jobs numbers and searched for the most grim framing they could find, while actual economists cheered not just the statistics but the overall big picture, looking at both September and how Federal Reserve chairman Jerome Powell is guiding the economy.

The U.S. Bureau of Labor Statistics reports “employment increased by 263,000 in September, and the unemployment rate edged down to 3.5 percent.”

Economist Justin Wolfers, professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, a Senior Fellow at the Brookings Institute, and a New York Times contributor explains the numbers.

“Payrolls rose a robust +263k in September, a touch above expectations,” he says on Twitter. “Unemployment down a tick to 3.5%, equal to the lowest level in fifty years. Revisions [to prior months] also positive.”

RELATED: ‘Ain’t No Recession’: Economists Praise ‘Huge’ Employment Numbers – ‘We’re Back, Baby’

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