The Fed tracks the sagging job market

[rodbarnett]

March 16, 2004


The following small changes in the Federal Reserve Open Market Committee's policy statement over the past three months show how the Fed's assessment of the nation's employment picture is changing.

December 9, 2003:
"Output is expanding briskly, and the labor market appears to be impropving modestly."

January 28, 2004:
"Output is expanding briskly. Although new hiring remain ssubdued, other indicators suggest an improvement in the labor market."

March 16, 2004
"Output is continuing to expand at a solid pace. Although job losses have slowed, new hiring has lagged."

http://www.newsday.com/business/ny-fedbox0317,0,6739608.story?coll=ny-business-headlines

[fearnobush]

1. Any protectionists out there?

I know I am on of the few not afraid to admit it. I know many others too... at work , I see people slow things down a bit just to beef up job security. Said, but true.

[Gothic Sponge]

4. I'm becoming a protectionists

It's one of those things i don't like to admit. I don't like the idea of closing the doors to other countries, but with so many people out of work here......What's the solution?

[dweller]

2. That's it? pithy, pitiful....

Output is spurting , and the labor market appears to be just laying there, uninvolved in the act...

cigarette?
dp

[teryang]

3. Job market will implode after Nov.

The concealment of PPI figures enables the low interest charade to continue. The Fed is keeping interest low in attempt to keep the misadministration in power. Greenspan's education cliches are a fig leaf for a reactionary and dissembling economic policy. Education costs are skyrocketing. A high level of education does not preclude extended periods of unemployment. Discussion of "core rates of inflation" are a poorly disguised falsehood.

As Americans are forced permanently out of the work force, including many people who have been employed for decades and have expectations of higher compensation, they are afforded the lowest interest rates in decades to borrow on what remains of their home equity, either just to survive without a plan or to purchase marginal businesses that will eventually fail under the Home Depot/Walmart monopolistic model economy. The low rates and the falsification of economic figures will continue till November. The stock market is anticipating the future blow and becoming very unstable. The smallest businesses that succeed are those services in which the proprietors are working twenty four seven to make ends meet, going without insurance, and failing to account for their income, and ripping off their employees FICA witholdings. It's the United States of Mexico.