The Employment Outlook – A Long Way Off

The headline figures from the July Employment report were better than expected, but the details remained relatively weak. Excluding seasonal adjustment issues in the auto industry, job losses remained large and widespread across industries. Yet, the pace of job destruction is not as severe as was seen earlier in the year, which is good news. It’s going to take some time before the labor market improves (as opposed to getting “less weak”), and it will be years before we get the unemployment rate back down to 5%...

Raymond James: The Employment Outlook – A Long Way Off