Last week, I did a couple of interviews with Brian Edwards-Tiekert of KPFA: one about what the latest BLS employment data is telling us, and one about the Fed’s decision to lower interest rates by a quarter point – in part in response to that data. Having given this some thought for the interviews, I thought it might be worth putting something down in a blog post.

I should stress: I am not a labor economist, or an expert on labor-market data. If I add any value here, it’s from applying a more systematic Keynesian perspective. I also know there are people who read my posts but don’t read more specialized economics content, who would appreciate a discussion of recent employment data. If people find this p…

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