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Unexpected Loss of Jobs Raises Risk of Recession
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Economists mentioned here at Global Insight and Morgan Stanley, Wells Fargo, see a slowdown in the economy and some see a rate cut of half a point by the Fed's poilcy making committee meeting Sept 18, 2007. The labor market slowed from ann average gain of 200,000 jobs in 2005 and 2006 to a loss of 4000 jobs in July to August. period. Note that the effects of the housing crisis on jobs in the housing and finance sectors and the further downstream effects on the auto sector have not yet rippled throught he economy, so its still to show up in the numbers, and this confirms that the direction is on the downside
Whats ahead of the U.S. Economy, first week Sept 2007?
09/08/2007
Whats ahead of the economy in the US, as the crisis in the housing, credit and finance sectors spills over into consumer spending, as 2007 fades into 2008? The take from several economists and experts.
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