If you look at the last jobless recovery, the Fed was on hold for a good, long time. When they did reverse course, the economy had produced 4 million jobs from the trough in the labor market. We're nowhere near that -- even with payroll data revisions, which I suspect will be on the tepid side, we won't be near that.
More Quotes from Wayne Ayers:
At labor market turning points, the household survey does better because it picks up self-employed workers and others not reflected in the business survey. But I'm still not convinced the labor market is quite as strong as the household data say it is.Wayne Ayers
The anecdotal evidence of the beige book seems to confirm what all these economic reports have been saying.
Wayne Ayers
It's clear the consumer has progressively turned more cautious and conservative. Given that, and given that business capital spending has yet to come back, how long can this recovery keep on going These numbers certainly make that a legitimate question.
Wayne Ayers
I think if you take those two things together, there is some hope.
Wayne Ayers
I find it strange that we had one of the biggest declines in employment in almost two years and no one noticed, and I'm sure they're thinking the same way over there at the Fed.
Wayne Ayers
I think you would be hard-pressed to find an economist, aside from the supply-siders, who would argue against the idea that deficits matter.
Wayne Ayers
Readers Who Like This Quotation Also Like:
Based on Topics: Labor Quotes, Time QuotesThat difficult start drove me on to inspire children and let them know that it is never to late to repair a bad experience at school, and once you get your head down and start to read books, you can really achieve.
Johnny Ball
The victory of the working people over the exploiters and slave holders is at the same time the victorious struggle for liberation by the German people.
Walter Ulbricht
To find joy in work is to discover the fountain of youth.
Pearl S. Buck