Stock Market Boost: Unemployment Outlook Shifts To Positive

By John S. Tobey

Surprise! Those widely discussed, horrible unemployment numbers are showing improvement.

Economists continue to generate dire omens as described in The Wall Street Journal’s May 23 article, “The Job Market’s Long Road Back.” However, those forecasts are overly reliant on improper analysis. Moreover, remember this absolute truth: Economists are excellent at analyzing the past and terrible at forecasting the future – even the next week, month or quarter.

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