Comment on U.S. Bureau of Labor Statistics Employment Situation Report: Kathy Bostjancic, Director of Macroeconomic Analysis, The Conference Board
NEW YORK, Oct. 5, 2012 /PRNewswire/ —
Job Growth Still Slow, But Not Slowing
With a gain of 114,000 jobs in September and an upward revision for August, this economy remains on a slow but not slowing growth path. More demand would help, as would fewer ill winds blowing in from a contracting Europe and slower emerging markets. More certainty on taxes post-election would also help. However, right now, slow job and income growth is about all the economy is capable of generating as businesses remain focused on cutting costs. That is the signal from The Conference Board Leading Economic Index® for the U.S. and is consistent with recent readings on consumer sentiment. Lack of demand plus concern about declining profits makes it difficult to generate new jobs at a faster pace.
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