Statement from Bart van Ark, Chief Economist of The Conference Board on Today's Jobs Report from The U.S. Labor Department
NEW YORK, Sept. 3 /PRNewswire/ -- Stuck in the Slow Lane
The modest job gains during the past few months not only reflect the response to slow output growth, but also a lack of confidence going forward. While the snail-pace creation of jobs over past months might seem similar to recent post-recession periods, it is in fact much different. The economy as a whole has been weakened by a dismal housing market and slow consumption growth, which especially hamper small and medium- sized enterprises. Modest gains in private sector jobs, coupled with the large decline in government employment, are consistent with our forecast for continued sluggish growth.
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.
Follow The Conference Board
SOURCE The Conference Board
Share this article