Comment on U.S. Bureau of Labor Statistics Employment Situation Report Bart van Ark, Chief Economist, The Conference Board

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Sep 02, 2011, 09:09 ET

NEW YORK, Sept. 2, 2011 /PRNewswire/ --

Weak Labor Market is Becoming the Main Concern

Job growth remained weak in August, for a 4th consecutive month, and has now stalled. The economy is expanding at a very slow pace and is showing no forward momentum — in overall activity or in jobs. Consumers are worried that things may not improve, as confirmed by the sharp decline in The Conference Board Consumer Confidence Index, earlier this week. The lack of demand is the single biggest problem. It has led to this slow pace of hiring, especially in small firms in "core" services (which excludes health and education). There seems to be little to no help on the way from monetary or fiscal policy, at the federal, state, or local level. It all adds up to little change in a slow labor market over the next few months.

About The Conference Board

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org

SOURCE The Conference Board