It either means the economy is losing momentum or the (Bureau of Labor Statistics) is losing touch what's actually happening in the economy. Right now I don't know what side to come down on. My sense is that job growth has been stronger than reported.
We haven't seen that much improvement in employment of hourly workers because the job market for lower-skill workers still has a lot of slack in it. But if you look at skilled workers, it's a much different picture. We're starting to see some real shortages in some sectors.
When combined with the run-up in employee health-care costs, ... the inability to raise selling prices is the single most important reason that job growth has been lagging so much during this recovery.
The state is expected to gain 150,000 new residents this year, with two-thirds of the adults likely coming from other states for job opportunities.
We've had very little economic growth, virtually no job growth. The only way you'll get income growth is through wage increases or through tax cuts.
In the past, that (increase in work week) has pointed to fact we'll see strong job growth in next few months.
A very high proportion of that job growth is occurring in high-paying professions. This is a demand-driven market and demand vastly exceeds supply.
The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.
The number one problem continues to be a lack of job and income growth.