Game-Master: “You peer over the edge, down into the cave. Below is a huge dragon, lying on a mound of gold.”
Rogue: “Is it asleep?”
Game-Master: “You hear deep rumbling snores.”
Party-Leader: “Great. We sneak back to town and take all the villagers’ gold. Then we sneak back to the cave, and add the villagers’ gold to the dragon’s pile without waking it up. The dragon will create jobs for everyone!”
That’s a slightly polished-up retelling of a joke I saw on facebook the other day. It is not my work of genius; I can only stand in awe of what is clearly the work of a level 20+ Snark-mage. I remember one battle my high school D&D club had with a Snark-Lich … whoo, boy! But I digress.It turns out that high level economists can also turn into snark-liches; the title of the email I got from FREDblog was “Seasonally adjusted greetings from FRED!”
As with all of FRED’s amazing offerings, the chart includes directions for how you can create it yourself using FRED’s database and tools. Be careful if you decide to explore their system, you can get lost for days in farting around with numbers. One of the things you will learn if you do that is exactly how much farting around with numbers there is to do, and where all those charts in magazines come from.
So, what does this chart mean? I’m interpreting it as “there is job growth in the shit job sector.”
Does that sound about right to you?
If what we’re seeing here is the “gig economy” and job growth in the shit job sector, we’re looking at a lot of people with degrees driving cars for Uber on behalf of the vanishing middle class. I’m going to mess around with the data set more and see if I can map in job growth in professional salaried positions. Does anyone want to bet that there is lower job growth outside of the shit job sector?
I’m probably going to be kind of quiet the next couple days. Still shovelling out from last week.