Anthony Chan
Anthony Chan
creation damage downtown estimates follow good indicate job lots means next percent plenty rebuilding work
Preliminary estimates indicate 60 percent damage to downtown New Orleans. Plenty of cleanup work and rebuilding will follow in all the areas. That means over the next 12 months, there will be lots of job creation which is good for the economy.
economic fallen far jobs million prior short today typical
We've fallen far short of prior economic expansions, ... We're about 5-1/2 million (jobs) short of where would be today if this were a typical expansion.
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When the economy is creating 200,000 new jobs a month, we can tolerate $65 to $70 a barrel oil. It masks the impact on consumer confidence.
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This report is actually quite favorable for financial markets since we see very little inflation pressure while simultaneously seeing job creation inching up,
bad continue damaging drives entering force good happens higher impact improvement job labor main mean news optimistic people push rate reason spending
The good news is that if so many people are entering the labor force it must mean that they are perceiving an improvement in the economy's prospects, ... The bad news, however, is that if too many people become optimistic about their job prospects, then the unemployment rate will continue to push higher. And the higher unemployment rate does have a damaging impact on consumers. They see it and they think, 'I shouldn't be spending money.' That's one of reason the unemployment rate is so important. It's the one that drives what happens on main street.
continue creating difference jobs nine six
We will continue on this jobless path, where we're not creating enough jobs to make a real difference to the economy, for at least another six to nine months.
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Unfortunately, I don't think it's a job for Alan Greenspan.
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It's tempting to say these are terrible jobs, but the service sector has more wage pricing power than the manufacturing sector. If you're getting a pay increase from your boss today, it's probably not in manufacturing.
average best data distorting hurricane jobs month numbers quite wider
The best way to read the numbers is going to be to average the two months' data because the hurricanes are distorting the wider picture, ... But excluding the hurricane effects, we're doing 190,000 to 200,000 new jobs a month and that's quite healthy.
difficult foresee growth jobs rate
It's difficult to foresee a growth rate where we will find 320,000 jobs
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While job losses may be ebbing, we have yet to see any signs of outsized hiring. This will not come ... until we transition from a slow-growing expansion to a normal economic recovery.
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When we exclude the effects of the recent hurricanes, we have to come away with the conclusion that despite higher energy prices and a battery of hurricanes, the job market is not doing all that bad.
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We're basically missing 5.1 million jobs at this stage of the expansion. You could even call it the case of the missing jobs, ... different paradigm.
although conclude figure impressive job patch soft soon suggest
Although it may be too soon to conclude that the soft patch is no more, today's impressive job figure does suggest that the slowdown may not be everlasting,