Sung Sohn
Sung Sohn
Sung Won Sohnis a Korean American economist, noted for his skill in economic forecasting. He is currently the Martin V. Smith Professor of Economics at California State University, Channel Islands...
businesses coming continued employment gains hiring increase maintain might primarily reasons seeing temporary trying
Employment gains really haven't come from full-time workers. They're coming primarily from part-time, temporary help, ... Businesses are still trying to maintain flexibility by not hiring more expensive, full-time workers. That might be one of the reasons why we're seeing an increase in continued claims.
boat both business businesses caution competition continuing domestic employees facing few focused foreign gains hiring reflecting report slow
This report is a slow boat to China, reflecting continuing business caution about hiring people. Facing unprecedented competition from both domestic and foreign sources, businesses are still focused on productivity gains with as few employees as possible.
businesses demand higher hire hiring increase people production
I don't think businesses will hire more people in anticipation of higher demand. They want to see demand first. They feel they have the flexibility to increase production without hiring people.
affects begin fed future inflation issue monetary months policy rate worry
Inflation is not an issue right now. However, it could be in the future. The Fed will begin to worry about inflation because monetary policy affects the inflation rate with a lag of as much as 18 months to two years, so they need to worry about it now.
stopped television terror watching
Immediately after the terror attacks, we were shell-shocked and stopped doing everything but watching television,
bedrock confidence consumer jobs spending
The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
fed might people raising rapidly slowly starts suspect
Once the Fed starts raising rates, I suspect they might go up more rapidly than a lot of people realize. Many of us think the Fed will do things slowly and gradually. In fact, they usually do things pretty quickly.
consumer employment picture rapid recovery sustained
Once the employment picture stabilizes, around midyear, we should see a more rapid and sustained recovery in consumer confidence.
corporate cuts economic impact months tax until
The corporate tax cuts may not have an economic impact until months later.
bullish holiday people shopping
I'm not bullish on the holiday shopping season, but I'm not as bearish as some people have been.
revision sure surprised
I'm not sure we will see a big revision in February; I won't be surprised if we do not.
august bank cautious central deviate fed interest policy raise rate reason until
There is no reason for the Fed to deviate away from the cautious policy approach, ... The central bank won't raise the interest rate until August or later.
month temporary
This was a temporary pause, which has already been reversed in the month of September,
customers increasing move positive respond saying talk
Customers we talk to are saying they're going to respond to increasing demand, but they won't do anything in anticipation of increasing demand, ... That's why employment, inventories and manufacturing will move in positive directions, but I don't think it will be anything spectacular.