The most troubling aspect of the payroll reports month after month through the “best jobs market in decades” was how the counted labor force seemed so entirely apathetic to it. If jobs were suddenly plentiful, it would stand to reason that Americans and the deep pool of them sidelined since the Great Recession would be lining up to participate. Because [...]
When the unemployment rate tumbled toward 5% and now below it, economists thought that was overheating. For monetary policy, that was much of the basis for adjusting Fed communication (not rate hikes, as credit and funding markets are doing the opposite). Despite the “best jobs market in decades”, however, confirmation of that robust labor agenda is scarce at best and [...]
Given the slide in activity at the nation’s retail outlets in September, and the worries that are going to persist over tapering mortgage refis, the economy probably did not need another setback. More specifically, the “wrong” side of the bifurcated economy is bracing for cutbacks in SNAP benefits. Part of the ARRA (remember the “stimulus” bill in 2009? That it [...]
Stay In Touch