The March Beige Book paints a clear picture of an economy straining at the seams. Significantly, compared to recent Beige Books, there was more detail, and a more worrying tone, to the comments on the labor market.
More Quotes from Ian Shepherdson:
Our measure of core sales, which excludes autos, gas and food, rose a pitiful 0.1 percent, the worst performance since April and impossible to square with Mr. Greenspan's assertion last week that the economy is regaining traction.Ian Shepherdson
The key number in this report, in our view, is the rise in the supply of homes for sale. There are now 14.4 percent more homes for sale than a year ago, while actual sales are up just 3.3 percent. With mortgage demand slipping a bit and supply rising, price gains cannot continue at their current pace.
Ian Shepherdson
We expect a drop to 390,000 next week, but an even lower number cannot be ruled out,
Ian Shepherdson
We think the trend in layoff is downwards, ... but we're not yet ready to argue that all the danger has passed.
Ian Shepherdson
While claims at 350,000 or so would not be a disaster, they would be consistent with (monthly) payrolls trending at only about 125,000 -- not enough to push the unemployment rate any lower.
Ian Shepherdson
There's no question that these numbers have been persistently disappointing in recent weeks, ... It's not that layoffs are accelerating again -- we think the underlying trend of claims is stable at about 390,000 -- it is that we expected clearer signs of an outright decline in the number of claims.
Ian Shepherdson
Readers Who Like This Quotation Also Like:
Based on Topics: Books Quotes, Labor QuotesBased on Keywords: beige, seams, straining
For one, the Qur'an is considered by Muslims to consist entirely of words spoken by Allah himself.
Paul Weyrich
I think decor says a lot about someone's social position, their taste, their sensibility, their work - and also about the aesthetic way I have chosen to tell their story.
Pedro Almodovar
I had a flight trainer who is one of the biggest and most famous helicopter pilots the world.
Izabella Scorupco