Definitely a student of Bernie Sanders.
Alexandria Ocasio-Cortex was roundly criticized on social media yesterday for supposedly botching a question about Israeli-Palestine relations during an interview with Firing Line’s Margaret Hoover. But Ocasio-Cortez’s admission that she was “no expert on geopolitics” was much more satisfactory than her answer to a question about the unemployment rate, which she claimed was low merely “because everyone has two jobs.”
This is wrong for two reasons. First, people working multiple jobs has no distorting effect on the unemployment rate, which is calculated by taking the number of unemployed people and dividing it by the number of people in the labor force. The raw number of jobs being worked by Americans has no bearing on these numbers.
Second, everyone does not have two jobs. As Bloomberg View’s Noah Smith points out, only about 5 percent of workers are moonlighting. This rate has actually dropped slightly over the last three decades.
Ocasio-Cortez continued: “Unemployment is low because people are working 60, 70, 80 hours a week, and can barely feed their kids.” Again, the number of overtime hours Americans are working has no impact on the unemployment rate.