A bad number is bad -- and so is a good number.
Friday's solid report of the March labor environment showed more Americans working more hours at higher wages than ever before. Unemployment fell to 4.4%, instead of rising as many expected. The average hourly wage rose to $17.22. The strong jobs report, along with the January-February surge in spending, personal income and core inflation points to sturdy growth and an inflation problem -- not the recession and interest-rate cuts many predicted in early March.
Despite his performance and a superior grasp of the data underlying the economy, Malpass is accused of looking only at "recent" data.
Investors (and sports fans) should look carefully to find the real experts when making their decisions.
Reader Challenge: Find and report the last time that Abelson or Ritholtz took an employment report that seemed "weak" on the surface, but explored the internals to show hidden strength.