I think what people pay attention to is their take-home pay, ... It's a weak labor market that is causing slow wage growth, making them feel bad about the economy.
More Quotes from Peter Morici:
The reality is across sectors and across regions the picture is very mixed. The auto sector is not only troubled, but becoming more troubled,Peter Morici
We're far enough away (from full employment) that we don't need to give it a thought or worry for quite some time. If the labor market starts to improve, we'll have a lot more people return to the labor force, so we need a lot stronger gains than we've been seeing to get near a 4 percent unemployment rate.
Peter Morici
The retail sector is enjoying a decent but unexceptional holiday shopping season.
Peter Morici
The public is simply not as sympathetic to union causes today as it was 30 years ago, and that's a big problem.
Peter Morici
Bush has a clear idea of what he wants to do on the economy, ... He's really not looking for people to come in and create new policy for him, rather to be a messenger and execute according to his blueprint.
Peter Morici
Earnings of hourly workers have been falling for the last three years. Especially for the bottom 50 percent of the population, things have not been very good. But for the top 25 percent, real incomes have been going up rapidly. It's been caviar for the rich and cake for the rest.
Peter Morici
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