Last Friday, writing about our no good, terrible jobs report I said:
The interesting question is whether this is just a soon to be revised blip on the road to full employment or if this is a harbinger of another spring-summer slowdown after a promising fall and winter. Last year showed a definite V shape in job growth as did 2011 to a lesser extent.
In the comments on a subsequent post about bad thesis advisors, I was excoriated for the above statement as follows:
its bogus (because with one reference - one's own eyes - it clearly is bogus).
I'm not sure macro is much better than literary theory
OK. So I took the jobs numbers for 2011 and 2012, averaged them by month and plotted the monthly averages. Here's what I got:
Sweet fancy Moses. As I live and breathe, it's a V-SHAPED CYCLE.
Take THAT literary theorists.
Let me see you average Derrida and Foucault by month and get such a nice looking V out of it.