What's most important is that we've got demand and supply moving ahead fast enough that we're absorbing and creating jobs month in and month out -- that's not something to lament.
More Quotes from Steven Wieting:
If you look at labor demand, you should be getting a decent trend. It was only June data that fell below that trend.Steven Wieting
It comes down to a political choice, ... whether this is the kind of thing where you happily wait and continue unemployment insurance in the hope that certain industries bounce back cyclically, or you accept the fact that certain job categories are gone for good.
Steven Wieting
Estimates have to come down, ... We're in for an ugly preannouncement season.
Steven Wieting
This gain in proprietors' income is small-business job creation, we think, and it's more useful at this point in the business cycle than it would otherwise be,
Steven Wieting
We're not expecting an entirely clean read for the durable goods report. The business confidence data began to bottom at the end of June and that's encouraging. We probably will see modest gains in consumer activity and eventually the business cycle will catch up to that. But so far, everything right now is pointing to frustrating moderate economic growth for the time being,
Steven Wieting
This is a fairly big negative, correlated to other unfortunate news, like weak financial markets, which have their own impact, ... So far it still looks like the economy is growing, but below trend.
Steven Wieting
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