The Tom Woods Show, episode 640.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here, the Tom Woods Show.

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Welcome, everybody, Tom Woods here. Join by Ryan McMakin today, we're going to be talking about the job figures that we hear from time to time, the raw figures about jobs created.

And whether or not jobs created is really a good proxy for overall economic health.

And if not, why not?

And how ought we to think about all this stuff? Ryan is the economics editor and

communications director at the Meases Institute. He writes quite a bit over on the blog at meases.org.

So check that out. I'll, of course, link to the Meases Institute at tomwoods.com slash 640, as well as to to a recent article Ryan wrote on the very topic we are

discussing today. So that will also be linked on the show notes page. Ryan, welcome to the show.

Thank you. It's great to be here. Love this article. So let's talk about it. Of course,

it'll be linked at tomwoods.com. Let's see. This is 640. Tomwoods.com slash 640.

Why is it that job growth is not necessarily an indication of economic progress?

Well, you could just think about how things are in your own household. Say you're in a two-income earning household, and you probably use up most of the money

that you bring in through those two incomes. But say that you got to a point where one of you

earned so much money and was doing so well that one of you could quit your job and pursue things

...