Employment Prospects In U.S. Weak

Discussion in 'Economy' started by Nova78, Oct 14, 2012.

  1. Nova78
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    Nova78 Silver Member

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    Employment Prospects In U.S. Still Weak | Allp Blog

    Michael Feroli, an economist at JPMorgan Chase, stated that the newest economic data is very “decisively disappointing”. Feroli and the rest of the JPMorgan Chase team are now convinced that economic growth will only reach a maximum of 2 percent during the July-September quarter. Their initial prediction was 3 percent.

    The dip in their prediction was caused by the low hiring rate in the US job market, as well as the slow economic growth with the country’s business partners overseas. Export sales rates have dropped recently due to the sluggish economies of other countries.

    Julia Coronado, an economist at BNP Paribas in New York, also shares the same sentiment with Feroli. Her early projections for economic growth this year was pegged at 2.4 percent. With the poor economic rating experienced by the United States earlier this year, Coronado withdrew her first forecast and now expects an economic growth of 2.2 percent.

    Coronado has hoped that the economy will get a strong foothold this year and experience a stronger phase of resurgence, but recent data suggests that any chance of gaining a significant amount of recovery has been shot down. “The door keeps getting slammed shut,” Coronado said......


    Obama's plan has worked, destroy the job market, good luck America ,you going to need it !
     
  2. oldfart
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    oldfart Older than dirt

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    Amazing. Wall Street pays people six figure incomes to announce two weeks after the fact exactly what the CBO predicted during the quarter.

     
  3. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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