I wouldn't be surprised if unemployment held constant or dropped a tenth of a percentage point. But will that signal we're heading back to a healthy labor market No, because the economic fundamentals, in terms of growth, just aren't there.
More Quotes from Jared Bernstein:
I'm definitely ready to believe that the rate of job loss has slowed and that soon we will be adding jobs. The question is, will we be adding enough to keep unemployment from risingJared Bernstein
Yet this peppering of data notwithstanding, economists are not too sanguine about the immediate prospects for income growth on the bottom rungs of the wage scale. The job market is slowly tightening, ... We are wringing out the slack. But we're only six months into a process that could take a year and a half.
Jared Bernstein
I and others have been looking desperately for silver linings in this tragedy and if Katrina were to motivate Congress to look at this issue seriously, that would be great.
Jared Bernstein
These losses may reflect the fact that consumers facing higher energy prices and falling real inflation-adjusted wages are cutting back on discretionary spending.
Jared Bernstein
It's a pretty classic story of an economy that's leaving middle-income households behind. The gap between how this economy's doing and the living standards of the median family has never been larger.
Jared Bernstein
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