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View Diary: Just 169,000 jobs added in August. June and July revised downward. Unemployment rate at 7.3% (45 comments)

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  •  Jared Berstein: "we're stuck in 2nd gear".. (1+ / 0-)
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    Meteor Blades now is not the time for "tapering":
    The Case Against Tapering in September - The Jobs Report September 6, 2013, 11:26 am

    I've heard that Bernancke is planning to do just that.

    Last month on jobs day, I wrote in this space about an economy stuck in second gear.  On this month’s jobs day, I’d like to reiterate that point but add a question, one aimed at the folks across town at the Federal Reserve:

    Do you really want to make a car that’s puttering along in second gear climb a hill?  Because that’s, I fear, what you’d be doing if you proceed with your plans to taper this month.

    Let me be clear.  This was not a disastrous jobs report.  The top-line payroll number — 169,000 — wasn’t that far off expectations (and, in fact, as I forecast 170,000, it’s about where I thought it would be).  But there were pretty large negative revisions to prior months’ data: July’s already subpar 162,000 jobs was revised way down to only 104,000.  June’s revisions subtracted another 16,000.

    With a good discussion Jared Berstein speaks on todays jobs report:   (short ad - sorry)

    transcript @ link:

    Jared Bernstein anwers questions on the Presidents new idea of lowering corporate tax rates and closing loopholes (that would generate more revenue ?) in trade for investment in job creation, infrastructure and other concerns. No reptriation tax holiday.
    Also with Air Melber.

    Thx MB

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