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.
demand fast increase industry problem process simply trying waiting
The problem is the bottleneck. The industry simply is not able to process the applications fast enough. They (homeowners) are trying to refinance...But the increase in demand will simply increase the waiting list.
adding boost businesses confidence economic employers employment expansion hire hours people per trying
Businesses have regained confidence in the sustainability of this economic expansion and have started to hire people in earnest. Employers are trying to boost employment by adding more workers, not more hours per worker.
argue bend dollar game intended japanese orderly sure suspect trend trying
The Japanese would argue that they never really intended to bend the trend of the dollar; they were just trying to make sure the dollar depreciated gradually, in an orderly fashion, ... I suspect that's still their game plan.
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.
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.
close higher number overall somewhat
Probably the overall (CPI) number will be somewhat higher than anticipated, but like PPI, the core-number should be close to forecasts,
both bring business closure confidence consumer depressed economy expect improve somehow stock taking war
Both consumer and business confidence is depressed because of uncertainty surrounding the war, ... If we can somehow bring closure to the war situation, I would expect confidence to improve dramatically, taking with it the economy and the stock market.
beginning begun business capital consumer cylinders economic growth improve inventory outside spending swings third
The third cylinder of economic growth is beginning to fire, ... The other two cylinders are inventory swings and consumer spending. Outside of telecommunications and airplanes, business capital spending has begun to improve already, beginning in the first quarter.
assuming corporate half hopefully likely market negative offset profits psychology rates rise second stock
Corporate profits are likely to rise at double-digit rates in the second half of the year. And that will be hopefully enough to offset some of the negative psychology in the stock market -- assuming it doesn't get worse.
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.