Comments On the June Employment Situation Report.Business Editors BOSTON--(BUSINESS WIRE)--July 7, 2000 By Oscar Gonzalez Economist John Hancock Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc. (NYSE NYSE See: New York Stock Exchange : JHF JHF John Henry Foster Co. (St. Louis, MO) JHF Jewish Healthcare Foundation JHF Juvenile Hyaline Fibromatosis ) "Unemployment dropped back to 4 % in June, but with only 206,000 new jobs created and wages rising .4 percent, we may be on a sustainable growth path. If it holds, we may get our soft landing. But that's a big if. We're still flying in a fog. As appealing as these numbers are, they do little to clear the murkiness. The most we can now conclude is that six rate hikes are slowing the economy. It's still too early to declare we have achieved a level of stability that would comfort the Fed. Even with the sharp downward revision, I still think last month's weak jobs report was a fluke fluke, parasitic flatworm of the trematoda class, related to the tapeworm. Instead of the cilia, external sense organs, and epidermis of the free-living flatworms, adult flukes have sucking disks with which they cling to their hosts and an external cuticle that . Given this kind of volatility, I think any kind of rally in the financial markets from these numbers would be hasty hast·y adj. hast·i·er, hast·i·est 1. Characterized by speed; rapid. See Synonyms at fast1. 2. Done or made too quickly to be accurate or wise; rash: a hasty decision. and probably short-lived. The Fed could pull the trigger again on rates again in August just as easily as they could stand down." |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion