Tyler Cowen linked to an interesting set of tweets:
Neither observation impresses me. The fast growth over the past 51 months comes from a rebound from Covid (plus strong immigration.) The expansion after March 2009 was way too slow, featuring very high unemployment for a number of years.
I am impressed by the low unemployment rates since March 2022, and (in fairness to Trumpistas) the low unemployment of 2018-19. So I do see some things to be impressed with, just not those two data points.
If we get to a soft landing in 2025, then I’ll be really impressed.
PS. The subsequent tweet is also misleading:
Look at 1929. Are we to believe that during WWI and the Roaring 20s the economy spent more time in recession than during any postwar 15 year period? Even more than 1970-85? NBER recession dating is not reliable prior to WWII.