Anthony Chan
Anthony Chan
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We will see more bad news on the employment front. We see unemployment going to 6.1 percent or 6.2 percent before it's over; no way are we going to see that coming down while we're creating so few jobs.
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We know those numbers were contaminated because of the hurricanes. After you adjust for the hurricanes, you come away with a fairly strong employment outlook.
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Today's employment report also has sustainability written all over it.
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This report was very encouraging. It gives us stronger employment growth than the market was expecting while none of negative side effects of economic growth are present, such as higher inflationary pressure from wages.
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We are not likely to see faster employment growth until the current growth trend in productivity slows significantly.
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The decline in the length of the average work week ... tells us this leading employment indicator does not foreshadow any immediate end to this general pattern of weakness in the labor market.
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Although today's employment report provides little evidence of anything resembling a double-dip recovery, it does provide stronger support for the onset of a gradual to a moderate recovery in the months ahead.
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This employment report means that the phrase 'considerable period' will stick around for a considerably longer period of time.
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This clearly shows that relying on the household survey's employment measure as a barometer of labor market conditions is not only risky, but also an incorrect assumption,
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Additionally, it was encouraging to see a small increase in the length of the work week, which usually serves as a leading indicator of future employment growth.
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I think this employment report shows that the laws of gravity do apply to monetary policy,
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I haven't seen increases in the workweek strong enough to augur that all of a sudden employment is going to surge, ... If I had seen that in the past couple of months, I would be more optimistic.
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These jobless claims figures strongly suggest that any discussion of a runaway economic recovery have been greatly exaggerated, ... Instead, what we see here is a recovery that continues to face significant headwinds emanating from the employment front.
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What the Fed showed was that extraordinary circumstances require an extraordinary strategy. Not only are they moving rates to lows not seen since the early '60s, they're prepared to move them a lot lower.