What it seems to be indicating is that a kind of moderation in the state's economy that we saw in the middle of last year is continuing. When you put these things together we're not seeing a whole lot of job growth.
More Quotes from Joel Naroff:
Okay, mild weather helped, but let's get real. People don't go out and buy houses if they are worried about the future, even if mortgage rates are fairly low and the sun is shining brightly.Joel Naroff
The numbers we're getting all indicate that the economy has maintained a large amount of momentum and that's obviously a concern to the Fed and will likely force their hand.
Joel Naroff
Business tax cuts may save the corporate bottom line a little bit, but they will neither induce new investment nor increase production, ... Only a rise in spending will do that.
Joel Naroff
Now, if we can get a really good employment growth number on Friday, something I think is a real possibility, even that enigmatic curmudgeon who controls monetary policy might start to lighten up a bit,
Joel Naroff
Unfortunately, wages grew by less than that pace, which explains why spending has begun to tail off.
Joel Naroff
Warm weather and consumers' willingness to spend every penny they have led to a huge increase in retail sales. Households may be tapped out and dipping into savings and wealth, but that still hasn't slowed them down one bit.
Joel Naroff
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