Morici saw it as political.
There is great discussion over the validity of the jobs created during the Obama years and of the real unemployment rate given the labor participation rate.
That’s one person.
The jobs created under obama was low wage and part time jobs. The economy seeks equilibrium. Obama never did anything to stop the flow of jobs out of the country. So the economy was up against a sisyphean task.
I don’t believe the unemployment numbers either. I suspect the Trump admin will reevaluate the process and restate numbers.
But the new jobs numbers are in line with prior methods.
The series of job announcements following Trump’s elections indicates that companies have gotten the message and do realize a tariff is coming.
The Fed is reacting to both positive jobs information and signs of inflation, as it should.
I think they could keep it low longer and risk more inflation to drive employment higher. But the real policy change that needs to occur to help employment is the tariff. Low interest rates is a bandaid. The real cause of the high unemployment is that we removed the tariffs.