Taking away a person’s freedom is never something to be done lightly. But once addicted to fentanyl or the new meth, many users are not “free” to choose treatment—or any path out of addiction—in any meaningful way. Time away from these drugs, I believe, can help them regain their agency. In an era of rampant fentanyl and meth use, drug courts and a reimagined jail—alongside robust support for voluntary treatment—should be foundations for that revival. An arrest can be an act of compassion when the odds are that, outside, meth will drive a user mad, and fentanyl will kill him.
- Date Posted:
- June 2, 2023
Another very strong headline jobs number of 339,000 in May. Bringing total jobs to 1.3 million above CBO's pre-pandemic forecast. But the unemployment rate rose from 3.4% to 3.7% which is the 94th percentile of historical one-month changes. The employment-population ratio fell a little in May but for prime age workers it remains above pre-pandemic rates. Finally, average hourly earnings (which are noisier than I would like) were up at a 4% annual rate--same as the rate for the last 3 months & lower than the 5% annual rate they had been running before. Note other indicators suggest some of this slowdown is spurious composition effects. But overall, this suggests the Fed does not need to be especially worried about the employment side of its mandate and should be willing and able to do what it needs to for the side of its mandate that is still very far from where it should be--namely the inflation side.