Mark Vitner
Mark Vitner
coming expected gain job likely state states
The state is expected to gain 150,000 new residents this year, with two-thirds of the adults likely coming from other states for job opportunities.
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The 10 million jobs may be realistic, but it may not be all that different from what we would see no matter what happens. We're looking for 3 million jobs to be created in 2004. Even if Kerry is elected, he'll have no bearing on the economy until 2006.
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It either means the economy is losing momentum or the (Bureau of Labor Statistics) is losing touch what's actually happening in the economy. Right now I don't know what side to come down on. My sense is that job growth has been stronger than reported.
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We haven't seen that much improvement in employment of hourly workers because the job market for lower-skill workers still has a lot of slack in it. But if you look at skilled workers, it's a much different picture. We're starting to see some real shortages in some sectors.
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I don't have any faith that 32,000 jobs added reflects what's going on. The growing disconnect between the surveys is too much to dismiss.
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When combined with the run-up in employee health-care costs, ... the inability to raise selling prices is the single most important reason that job growth has been lagging so much during this recovery.
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We've had very little economic growth, virtually no job growth. The only way you'll get income growth is through wage increases or through tax cuts.
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The number one problem continues to be a lack of job and income growth.
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We're seeing both the quantity and quality of the jobs being created improving.
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A very high proportion of that job growth is occurring in high-paying professions. This is a demand-driven market and demand vastly exceeds supply.
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I think 78,000 is too few jobs to qualify as a soft landing.
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In the past, that (increase in work week) has pointed to fact we'll see strong job growth in next few months.
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The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.
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You can't get a strong economy if everybody's against business. It's awfully hard to create jobs if everybody's anti-business.