The Wall Street Journal - Economists and others weigh in on the smaller-than-expected decline in U.S. payrolls and the increase in the unemployment rate. # We remain cautious on the employment front, as job losses typically continue for 3-6 months after the trough of economic output. That suggests a peak in joblessness towards the end of the fourth quarter 2009, a peak which would cap off two full years of consistent monthly payroll declines… There’s some hope at the end of the rainbow, but the economy will keep busy hunting down the leprechaun for a few more months before we get there. –Guy LeBas, Janney Montgomery Scott
# Many are interpreting the April employment report as yet another sign that the economy is “stabilizing,” but the more accurate interpretation of these signs is that the economy’s pace of contraction is slowing, which is not quite the same as stability and s still a long way from the economy actually improving. –Richard F. Moody, Forward Capital
# This is less bad than the 690,000 average in February and March, and both manufacturing and service losses slowed, but it is hardly a triumph or even a stabilization. It is terrible, as is the rise in the unemployment rate to 8.9% from 8.5%. Soaring unemployment is depressing wage gains… There’s much further to go here; seriously bad news because without wage gains people can’t deleverage unless they cut spending deeply. –Ian Shepherdson, High Frequency Economicshttp://blogs.wsj.com/economics/2009/05/08/economists-react-jobs-report-is-less-bad/?mod=rss_WSJBlog?mod=blogmod
- Jittery Bond Market Threatens President's Agenda
- Consumers Are Dealt a New Hand in Credit Cards
- U.S. Expected to Own 70% of Restructured G.M.
- Stocks of Retailers Surge on Consumer Optimism
- Consumer Confidence Rose Sharply in May
- Recession Turns Malls Into Ghost Towns
- Is the U.S. Going Socialist?
- Slump Creates Lack of Mobility for Americans
- Weak Housing Data Has a Bright Spot
- Home Depot Girds for Continued Weakness
- Shell Investors Revolt Over Executive Pay Plan
- Bond Yields May Signal a Recovery
- Credit-Card Fees Curbed
- What's Trump Worth? It Keeps Changing
- It May Be Time for the Fed to Go Negative
- Wal-Mart Says Its Market Share Is Rising
- SEC Poised to Charge Mozilo With Fraud
- U.S. Moves to Regulate Derivatives Trade
- Economists See Long Road to Recovery
- Cargo Ships Treading Water Off Singapore, Waiting ...
- U.S. Median House Price Declines 14%
- Retail Sales Post April Decline
- Officials at GM Sell Their Shares
- Advertising Losses Put Squeeze on TV News
- Estimate of Budget Deficit Now Tops $1.84 Trillion...
- Home Prices Continue to Crumble
- Economists React: Jobs Report Is ‘Less Bad’
- Recent Grads Face Hard Knock Times
- Jobless Rate Still Rising, But Not As Fast
- U.S. Jobless Rate Hits 8.9%, but Pace of Losses Ea...
- A Shrinking Trade Deficit, at Least for Now
- Obama Budget Cuts Point To Fights Ahead
- Move by General Growth Rattles Malls' Investors
- Economy Beers Give Brewers Lift in Downturn
- Losing Its Cool at the Mall
- ▼ May (35)
- ► 2008 (45)