News
Bloomberg | The Federal Reserve has an expectations problem.Pimco’s Gross Says U.S. Economic Growth Isn’t Enough to Sustain Job Market
Bill Gross, who runs the world’s biggest mutual fund at Pacific Investment Management Co., said U.S. growth isn’t sufficient to support asset and labor markets nor enough to compensate for the nation’s growing debt level.
Reuters | UPDATE 1-Biden sees up to 200,000 new U.S. jobs next month
Vice President Joe Biden predicted on Friday the U.S. economy would create 100,000 to 200,000 jobs next month, with a rise to 250,000 to 500,000 jobs per month soon afterward, according to a press pool report.
Econ Comments
Washington Times | EDITORIAL: Obama trades away opportunity
Failure to ratify agreements costs American jobs.
Blogs
Cato@Liberty | More Trade, More Jobs
The latest target of EPI’s flawed model is the North American Free Trade Agreement. Enacted in 1994, NAFTA has created a free trade zone comprising the United States, Canada, and Mexico.
WSJ: Real Time Economics | Without Jobs, U.S. Consumers Have No Strength
Don’t expect a turn in claims soon. In coming weeks, workers in the South left jobless by the tornadoes will file for benefits.
Calculated Risk | Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
The number of workers only able to find part time jobs (or have had their hours cut for economic reasons) increased to 8.6 million in April from 8.43 million in March.
WSJ: Real Time Economics | Why Did the Unemployment Rate Rise?
The household survey also includes workers that don’t show up in the establishment survey, like farmers, the self-employed and people who work without pay in the family store.
