The numbers are still quite healthy, they're still well within the range you would expect in a period of high demand for labor.
More Quotes from Patrick Fearon:
Spending was up, a little weaker than expected... Nevertheless, the trend has been upward and it looks like the consumer is still in the ballgame in terms of supporting economic growth.Patrick Fearon
The labor market has been strengthening for a while, but it may be that people are finally starting to become believers in it.
Patrick Fearon
There was some slacking off in the fourth quarter, but I didn't think it would affect the whole country.
Patrick Fearon
It's certainly lower than expectations so in that sense it was a disappointment, but the key thing is that this is still appreciably better as a growth rate than the long-term average, which is only about 3 percent,
Patrick Fearon
The housing starts figure coming in down 5.6 percent was weaker than expected and seems consistent with our thesis that the housing sector is moderating. The big decline in housing permits reinforces that idea.
Patrick Fearon
We're probably close to the point where there will be a take-off in investment and wage growth.
Patrick Fearon
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