(Note: The following anecdote may be fictional. — Mgmt.)
My kid just gave me his report card. “My grades improved this semester!” he said. “Wow, that’s great!” I said. Then I opened up the report card. “Wait a minute, son,” I said. This is a C+ average. Last semester, your average was a B. Your grades are actually getting worse.” “No, dad,” he said. “The semester before that, my average was an A. My grades aren’t falling as fast as they were falling before!”
In unrelated news, JVW passes along a Reuters story about our “improving” labor market, titled U.S. labor market marks slight improvement in Nov:
The U.S. labor market improved in November . . .
Really? That’s great!
with the number of jobs lost in the private sector falling again . . .
. . . and the number of planned layoffs also easing, separate reports showed on Wednesday.
The U.S. government is set to report on Friday data for both private and public employment, which is also expected to show the number of job losses falling, though unemployment is still seen above 10 percent.
U.S. private employers shed 169,000 jobs in November, fewer than the 195,000 jobs lost in October, according to a report on Wednesday by ADP Employer Services, jointly developed with Macroeconomic Advisers LLC.
So we’re losing — but more slowly. Which means we’re winning.
Back to my kid: I asked him what he wants to be when he grows up. He said: a Reuters reporter.
If his grades continue to improve, I think he just might qualify.