Explaining Emergency Unemployment Compensation To Steve Liesman
Economic data adjustment/recasting/proforma expert (aka CNBC Senior Economic Reporter/Producer), and the government's favorite mouthpiece, Steve Liesman, apparently has never heard of EUC. In the clip below we were much amused as the COMCASTIC ones were trying to make yesterday's Dept of Labor data into something positive, when instead the influx of 328k into EUC programs weekly, demonstrated the complete lack of hiring and the roll of hundreds of thousands from continuing into EUCs on a weekly basis (592k in the last two weeks alone). Please see 2'40" in the attached clip.
And because if you want to get something done right, you have to do it yourself, here, highlighted in red, Mr. Liesman is the data you may consider looking at before your next propaganda improv session, together with a pretty chart which should make it all too obvious.