Daily Archives: February 4, 2011

The US employment figures for January need more interpretation than usual, because adverse weather effects, benchmark revisions to past data, and changes to population estimates have all come together this month to cloud the picture.

Furthermore, the unemployment figures are currently telling a very different story from the employment figures, which needs explaining. Having examined all the data, my own interpretation is that the underlying state of the labour market is definitely improving, and is probably improving at a slightly faster pace than it was a few months ago. Read more

The era in which central bankers could apparently do no wrong ended emphatically in 2008. Since then, they have attracted plenty of criticism as they have adopted a succession of unconventional policies to stabilise the world economy and financial system. Read more