Better Than Expected Economic Reports Signal the Economy Could Be Ready for a Fed on Pause

The U.S. economy shed 20,000 in April, the Department of Labor announced in its monthly employment summary, bringing total unemployment up to 5% from 5.1% last month. “We are in a recession, this report doesn’t change that,” Ellen Zentner, an economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, told Bloomberg News . Zentner had forecast a payrolls cut of 25,000. “What it does is support the idea that the downturn will be mild. Consumer spending isn’t going to tank.” Compared to the 240,000 jobs the domestic labor market shed in the first three months of the year, 20,000 is a marked… SHARETHIS.addEntry({ title: "Better Than Expected Economic Reports Signal the Economy Could Be Ready for a Fed on Pause", url: "http://jutiagroup.com/2008/05/05/better-than-expected-economic-reports-signal-the-economy-could-be-ready-for-a-fed-on-pause/" });
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