Skip to comments.
Bernanke: Job market 'quite weak'
The Hill ^
| March 26, 2012
| Peter Schroeder
Posted on 03/26/2012 8:17:45 AM PDT by maggief
Federal Reserve Chairman Ben Bernanke said Monday that the labor market remains "quite weak," despite a recent run of strong employment data that appears "out of sync" with some broader problems facing the economy.
Noting that the number of people working and the hours worked still linger well below pre-crisis levels, Bernanke described the current job market as "far from normal," throwing some cold water on any nascent notion that the economy had fully recovered from the financial meltdown of 2008.
"Recent improvements are encouraging, but ... in an absolute sense, the job market is still far from normal by many measures, and millions of families continue to suffer the day-to-day hardships associated with not being able to find suitable employment," he said in a speech delivered to economists in Washington.
(Excerpt) Read more at thehill.com ...
TOPICS: Business/Economy; Government; News/Current Events
posted on 03/26/2012 8:17:49 AM PDT
Bernanke offered a number of theories for this conundrum. It could just be "statistical noise," and future revisions could show the economy actually grew at a much stronger rate than initially found. Or the unemployment rate could be dropping because the frustrated jobless are no longer looking for work, and as a result are no longer included in the data. Or the recent spike in hiring could be a natural response to the "extraordinary" layoffs that came during the recession.
posted on 03/26/2012 8:20:03 AM PDT
Captain "O"blivious to the rescue!
posted on 03/26/2012 9:00:56 AM PDT
by null and void
(Day 1161 of America's ObamaVacation from reality [Heroes aren't made, Frank, they're cornered...])
Labor unions and the minimum wage are the evil twins that put brakes on economic growth. These violations of individual liberty and freedom, along with Obama's burdensome regulations, are job killers.
Abolish the minimum wage and make Right to Work the law in all of the states. Then watch America come roaring back.
posted on 03/26/2012 9:07:57 AM PDT
(DP...that's what I like about Texas.)
“Abolish the minimum wage and make Right to Work the law in all of the states. Then watch America come roaring back.”
Agreed. And I would add eliminate onerous and mindless regulations and reform the hostile legal environment as well.
Yes, and watch America come roaring back
posted on 03/26/2012 9:19:03 AM PDT
(Stop feeding the beast; spend money only with those who support traditional American values.)
Outside of Federal, state and local government...lets try “non-existent”....
posted on 03/26/2012 9:41:54 AM PDT
(If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
Job market is still far from normal by many measures, and millions of families continue to suffer the day-to-day hardships.
Obama&Co. still on the job,change sucks.
posted on 03/26/2012 10:17:07 AM PDT
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson