lundi 6 avril 2015
Poor jobs report blurs US economic outlook
Posted on 04:36 by nice news
Is the U.S. economy really falling back? Or getting ready to spring forward? Answers to these pressing questions have suddenly taken new urgency after a stunningly soft March employment report.
Before last week’s disappointing jobs numbers, most economists and Wall Street insiders were convinced that a raft of evidence pointing to an economic slowdown mostly reflected temporary setbacks such as harsh weather that would fade in the warmer months. That’s precisely what happened in 2014, after all.
Yet fresh doubts about the spring-revival meme have sprung up after the government last Friday reported a mediocre 126,000 increase in jobs in March, combined with reductions in how many people were hired in the prior two months.
Now the employment data joins a long list of other reports such as retail sales, consumer spending, business investment, exports and manufacturing that reveal an economy suddenly bereft of the wind at its back. Growth in the first three months of the year is expected to slow to 1.6% or worse from 2.2% and 5% in the previous two quarters.
The conventional wisdom, however, rarely if ever changes because of one bad report, and economists are still hesitant to read too much into the latest rash of negative news.
Before last week’s disappointing jobs numbers, most economists and Wall Street insiders were convinced that a raft of evidence pointing to an economic slowdown mostly reflected temporary setbacks such as harsh weather that would fade in the warmer months. That’s precisely what happened in 2014, after all.
Yet fresh doubts about the spring-revival meme have sprung up after the government last Friday reported a mediocre 126,000 increase in jobs in March, combined with reductions in how many people were hired in the prior two months.
Now the employment data joins a long list of other reports such as retail sales, consumer spending, business investment, exports and manufacturing that reveal an economy suddenly bereft of the wind at its back. Growth in the first three months of the year is expected to slow to 1.6% or worse from 2.2% and 5% in the previous two quarters.
The conventional wisdom, however, rarely if ever changes because of one bad report, and economists are still hesitant to read too much into the latest rash of negative news.
Poor jobs report blurs US economic outlook
Categories: Poor jobs report blurs US economic outlook
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