We need more jobs. It is accurate to say that job growth has returned, but it is not at an acceptable level, ... We need over 200,000 a month to feel good about the sustainability of the expansion. That may be coming, but it is not here yet.
More Quotes from Joel Naroff:
We have seen a change in the texture of the economic data. A month ago, the reports were not clear-cut, as some were good and some were weak. Recently, the pattern has been for a surprise in the numbers on the upside. The Fed is seeing the same trend in the data, and it would be a shock if they did anything but stand pat.Joel Naroff
The firming labor market is going to be the key thing that keeps the economy going this year, as the slower housing market will take a lot of the wealth flow away that people used to fund expenditures.
Joel Naroff
What he's saying is not necessarily in opposition to the idea that the labor market may be stabilizing, but he's raising a warning flag, ... If we don't see layoffs get any worse, then they're actually getting a lot better -- that's critical information.
Joel Naroff
The data for the second quarter seem to point to a solid rebound in growth, ... That should generate improvement in profits, and hopefully the available funds will be spent on investment.
Joel Naroff
The sharp rise in wages is a two-sided sword.
Joel Naroff
The trade deficit may have narrowed in February but it is hardly clear that this is the start of a long downward trend.
Joel Naroff
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