Bill Cheney
Bill Cheney
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There are a lot of untied ends so far, but we want to get these students into school, in a stable environment, as soon as possible. We want these students to be in an environment where they will be cared for - that will help them rebuild their lives and give them a sense that they are moving on.
add bit clearly continue feels job jobs market million move tight year
There is still a big backlog to be made up before it feels like a tight job market. Clearly it's a tighter job market than it was a year ago, and if we continue to add a million jobs a quarter, we'll move in that direction. But I think it will take a little bit of time.
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There is a certain appeal to going to a nice round number like 5 percent. But if we get some bad inflation numbers, then they won't stop at 5 percent.
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We knew that it was a wet month and that rain tends to keep people away from shopping, so I thing a large part of this is actually a weather story.
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We're not only stuck in a soft patch; we're spinning our wheels. To get back to full employment, we need a lot more demand, and that's hard to see coming anytime soon from either domestic or international sources.
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The good news for workers is that productivity growth cannot continue at this pace. Demand will translate into jobs very soon, and in fact I think it's happening right now.
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We were expecting to celebrate New Year's and instead got slapped with a pink slip.
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While the labor market may feel like the weakest link in the recovery, really it's the last link. As long as employment doesn't collapse, the recovery will continue to gain strength. As it does, slowly jobs will be added and they will be the fuel that kicks the economy into a higher gear.
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You are seeing a large number of people coming out of the woodwork because there are jobs to be found. People are now looking for jobs because it is now worth looking.
employment next piece report
Next week's employment report will be a much more important piece of new information.
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It's too early to call a turn in the trend, so Alan Greenspan can't relax completely, but it's certainly the kind of report that will help him sleep better. There's still no sign of wage inflation and we seem to be heading for a soft landing: a smooth slowdown into sustainable non-inflationary growth.
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Considering the impact of the hurricanes and record heating bills last year, the economy continues to show remarkable resilience.
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It takes something on the order of 150,000 new jobs a month to absorb the natural increase in the labor force. As long as we keep getting smaller positive numbers than that, the unemployment rate should be trending up rather than down.
inflation problem stage
It's still the same story, that there really is no inflation problem at this stage of the cycle.