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Notes to myself, possibly of interest to others.
-- Bill Northlich

Friday, May 6, 2011

Rosenberg Soundbites on Jobs Data

Today’s jobs data was a mixed bag, pure and simple
  • The hallmark of the employment report was the litany of non-ratifying barometers that fell short of validating the bullish message from the headline
  • Even if the headline improvement is telling the accurate story, we have to again emphasize that there are only two ingredients that go into economic growth: How much the workforce rose (bodies and hours) and how productive it was (output per hour worked)
  • The jobs market has been wholly inadequate in terms of generating organic income growth
---DR's daily email

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