Workers and economists interact with the labor market in quite different ways. This contrast can lead to misunderstandings, at best, and distrust of the data at worst. Neither macroeconomic ...

For example, December’s ‘flash’ estimate ... the dire business surveys at the end of last year exaggerated the labour market downturn. There’s a similar story on vacancies.

The number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting that ...