7.6% unemployment isn’t great, but it isn’t anything more than a 16 year record and doesn’t come close to the 30’s. I take the warnings about oncoming inflation (or perhaps stagflation) more seriously myself.
“7.6% unemployment isn’t great, but it isn’t anything more than a 16 year record and doesn’t come close to the 30’s”
In the 30s welfare recipients weren’t considered as employed.
I think it was in the 60s that they started to include them as employed to make the numbers look better.
“I take the warnings about oncoming inflation (or perhaps stagflation) more seriously myself.”
Same here, this is becoming another Carter administration. I just hope we get the same results in 4 years.
In 1930, the unemployment rate only rose to 8.9%. The Depression didn't hit all at once.
The article gives a great description of the missteps of Herbert Hoover, the original "compassionate conservative."