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Friedman said the U.S. unemployment rate could jump to 6.5%, but the economist said that unemployment is a "lagging," not "leading," economic indicator.
"And given that unemployment is a lagging indicator, and young people's unemployment even lags behind the rest of unemployment, we're going to see a lot of kids of out work for a long, long, long, long time".
Employment is a lagging indicator.
Unemployment is a lagging indicator.
But employment is a lagging indicator.
But that is a lagging indicator.
Foreign and defense policy is a lagging indicator.
It's just that government is a lagging indicator.
"Consumer sentiment is a lagging indicator," he added.
But politics is a lagging indicator, always behind.
"Remember," he said, "office is a lagging business behind the economy".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com