September 8th, 2007
Job Report Equals Fed Rate Cut?
I just read: Job Report Shows First Decline in 4 Years
Share ThisThere were 4,000 fewer jobs in August, marking the first monthly decline in four years, the Labor Department said, confounding analysts who had forecast a moderate gain for the period. Many financial analysts had said they believed August would show about 110,000 new jobs. Instead, the number dipped for the first time since August 2003. At least one expert, global economist Jay Bryson of Wachovia, predicted that at its Sept. 18 meeting, the Federal Reserve would respond to the job losses by cutting interest rates by at least a quarter of a percentage point.
Posted by scott on September 8th, 2007 in Lending, Economic Info |
