Real Time Economics offers exclusive news, analysis and commentary on the economy, Federal Reserve policy and economics. The Wall Street Journal's Greg Ip and Sudeep Reddy are the lead writers, with contributions from other Journal reporters and editors.
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Economists React: Jobs the ‘Achilles Heel of Recovery
Posted on July 02, 2009
Economists and others weigh in on the larger-than-expected drop in nonfarm payrolls.This was a very ugly labor market report, and there is no amount of lipstick that can improve its image. Indeed, not only does it suggest that the pace of job losses in the U.S. remains very high, it bucks the trend of four consecutive months of improvement in the pace of job losses. Moreover, with conditions in the U.S. economy continuing to be very weak, there is little to suggest that a turnaround in U.S. labor market conditions is on the horizon. Millan L. B. Mulraine, TD SecuritiesYes, the drop in payro...
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