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...
both jobs sent service time
More and more jobs, both manufacturing and service jobs are sent overseas; these jobs won't come back any time soon.
bedrock confidence consumer jobs spending
The bedrock of consumer spending and confidence is employment. The expectations of more jobs has boosted consumer confidence.
economy expected jobs losing loss rate starting viewed
We're still losing jobs, but the rate of loss is expected to slow, ... That, hopefully, will be viewed that the economy is starting to improve.
coming confidence cuts gains high job negatives offset remains sales
That's why confidence is important. If it remains healthy, gains in sales will be high enough to offset the negatives coming from job cuts. It's a tug-of-war; right now, job cuts are winning.
almost economic economy jobs per producing recovery terrible three
This is a terrible number. The economic recovery is almost three years old, and the economy should be producing 200,000 to 300,000 jobs per month.
increases jobs monetary policy unless until
Until and unless there are significant increases in jobs over a period, tighter monetary policy is out of the question.
jobs labor market translate
Clearly, the labor market is improving, and this should translate into more jobs in the future,
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The economy and the job market are not out of the woods yet,
distinct interest pushing rates
Crowding out could become a distinct possibility in the future, pushing up interest rates significantly in 2005 and beyond,
argentina compared economy mexico potential relatively small
Argentina is not a potential nightmare. It's a relatively small economy compared to Mexico and Brazil.
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.
confidence consistent consumers east employment gains impact market michigan middle overall picture report retail rising sales situation slower stock taking turmoil
Employment gains are rising at a slower rate, retail sales are decelerating somewhat, the stock market is going through some turmoil and the Middle East situation is also probably having a dampening impact on consumers' willingness to spend, ... So I think the Michigan confidence report is consistent with an overall picture in which consumers are doing well, but probably taking a breather for a while.
economy seems
Even before the attack, the economy seems to have relapsed into the doldrums,
economy ensure fed fuel inflation left measures preventive taking
There's so much liquidity in the economy right now that, left alone, it could become fuel for inflation, ... I can see the Fed taking preventive measures to ensure inflation doesn't become a problem.