Comment on U.S. Bureau of Labor Statistics Employment Situation Report

Kathy Bostjancic, Director for Macroeconomic Analysis, The Conference Board

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May 06, 2011, 08:56 ET

NEW YORK, May 6, 2011 /PRNewswire/ --

Is the Labor Market Really This Strong?

The labor market turned in a third straight strong monthly gain. But it is likely to turn a little choppy over the next few months. Expecting it to stay consistently strong in the face of just meager growth in domestic demand seems like wishful thinking. Moderate consumer spending, even with strong business investment and with strong exports, can only deliver moderate job growth. However, embedded in this story is the apparent business assessment that they can maintain healthy profits while adding to payrolls. If that is true, the labor market is truly on the way back, even if it's a long way back.

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