,
3 tweets,
2 min read
Read on Twitter
This is an important point from @BetseyStevenson. We have two measures of employment growth; NFP is generally considered better, but there's some information in the other, and it's showing much more weakness 1/
This seems closely related to an observation by @jasonfurman. We also have two measures of the economy's output, and the less-often-cited one – which still contains some information – is looking much weaker than the headlines 2/
In general, these kinds of divergences tend to happen near turning points. As Jason notes, the last time we had a comparable divergence between GDP and GDI was at the start of the Great Recession. NOT calling recession now, but things may be weaker than they appear 3/
