Other indicators are also fails: poverty rate and the poverty line are laughable (pegged to which geographic area? The whole country). Median wages are down relative to prices, but juiced by economic prosperity of the second quartile enough to read the opposite. Precariousness is up. - ThreadSky

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ijaeger.bsky.social • 27 days ago

Other indicators are also fails: poverty rate and the poverty line are laughable (pegged to which geographic area? The whole country). Median wages are down relative to prices, but juiced by economic prosperity of the second quartile enough to read the opposite. Precariousness is up.

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ijaeger.bsky.social•27 days ago

The institute analysis is mid, but the point stands: you don't have to look to an exogenous human complication to see any number of reasons a huge cut of citizens do not believe the economy is "good". Prescribing "proper" sentiment relative to '19 based on the any of these stats alone is not enough.

ijaeger.bsky.social•27 days ago

What should really embarrass the liberal economists is how easily Republicans succeeded at activating this 25% unemployed/working poor segment. All they had to do was acknowledge it where none of our leaders ever did.

ijaeger.bsky.social•27 days ago

Another thing failed to be taken into account here when grousing about '19 relative sentiment: that tens of millions of people have aged into the workforce, the shape of work and the distribution of wages have changed, and most importantly, the people interpreting the publicly available data

ijaeger.bsky.social•27 days ago

explored in the article never thought to reinterpret it, or were not creative enough, or were not interested whatsoever in remediating it. As the labor force evolves, its interpretation should evolve.

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