Paul Krugman+ Your Authors @paulkrugman Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” "Arguing With Zombies," + more. Jul. 02, 2020 1 min read + Your Authors

About an hour from now we'll get the latest Employment Situation report from the BLS. It's likely to show a gain of several million jobs in June. And it will be totally misleading, because the numbers will be for "the pay period that includes the 12th" 1/ 

But thing fell apart in the 2nd half of the month 2/ 

Basically, job gains in May and early June were a false dawn, driven by a reopening that wasn't sustainable bc we hadn't controlled the pandemic. Today's report will be a monument to delusion, not an indicator of success 3/

You can follow @paulkrugman.


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