Ask Prof Wolff: Economic Analysis Real and Fake

A Patron of Economic Update asks: A great jobs report was released today; the stock market soared. I m skeptical. I see that of those 531, 000 jobs added, a great many are in relatively lowwage sectors such as Leisure Hospitality, Retail, etc. how many will we learn in January were merely seasonal Meanwhile, per the report, the number of permanent job losers, at 2. 1 million, changed little in October but is 828, 000 higher than in February The Workforce participation rate is unchanged. Inflation s up and product is not on store shelves. So how great IS this job report and economic health generally This is Professor Richard Wolff s video response. Submit your own question to be considered for a video response by Prof. Wolff on Patreon: