How 'Team Trump' sees unemployment and why it matters
Washington
DONALD Trump has long cast a sceptical eye on the official unemployment rate - and this week, both Treasury secretary nominee Steven Mnuchin and White House Press Secretary Sean Spicer clarified what the president might mean when he says the jobless figure isn't real.
While they've stopped short of defending Mr Trump's most extreme claims, Mr Mnuchin and Mr Spicer upheld his broader point that headline unemployment understates labour market slack. That's important, because Team Trump's insistence that weakness persists could affect how they view fiscal policy proposals as the new administration takes office.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons