Sunday, April 3, 2011

Macro, short samples, time series plots

On April 1, Paul Krugman posted the following time series plot of the employment-population ratio in an effort to say that the labor market isn't good (no joke).



A day later, Greg Mankiw posted a time series plot that grabbed my attention (if only because I felt like I saw it before):


The implication isn't that Mankiw thinks the labor market is great, but extending the time frame for the plot gives another perspective -- as it often does.

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