The economy is improving — and confusing
Washington digests some very good, very confusing, economic news The US economy’s encouraging start to 2023 got a major boost this morning when the Labor Department published its January jobs report. It showed that non-farm payrolls increased by 517,000 last month, a far higher figure than the Dow Jones estimate of 187,000. Economic forecasts are often wrong, but that’s a very big miss. The White House has welcomed the news: “The Biden economic plan is working,” said the president this morning. “Sometimes good news is just good news. And this time, it’s great news,” outgoing chief of staff Ron Klain observed to Politico’s Ben White.