Experts on Economy Adding Jobs At Fastest Rate In Four Years
Congressional Desk
May 08, 2010
Congressional Republicans threaten to take us back to the failed policies that created the economic crisis — siding with the special interests: Wall Street banks, credit card companies, Big Oil, and insurance companies.
These economic and fiscal policies created the Bush recession — the worst financial crisis since the Great Depression — with job losses of nearly 800,000 a month — and nearly doubled our national debt.
Democrats in Congress will continue to take America in a New Direction, working to create American jobs and a strong new foundation for economy, protecting Main Street and the middle class. We´re getting results.
FROM THE EXPERTS...
Mark Zandi, chief economist and co-founder of Moody´s Economy.com:
"It feels like a light switch went on in many businesses this spring. The job gains in March and April were strong and broad-based across industries. Most encouraging is the job growth in manufacturing and construction which have been the most serious drags on the job market." [McClatchy, 5/7/10]
James O´Sullivan, chief economist at MF Global:
"This is unambiguously a strong report for growth implications. It adds to the evidence that the pick-up in growth is leading to a clear cut pick up in employment. It is very clear there has been a bounce here, and momentum has been up." [New York Times, 5/7/10]
Joel Naroff, president of Naroff Economic Advisors:
"Clearly companies have a newfound confidence in the future of the economic recovery and on the part of their own business prospects. The broadbased job gains are an indication that businesses are feeling more comfortable about expanding their work forces." [AP, 5/7/10]
Stuart Hoffman, chief economist at PNC Financial Services Group:
"Employers are hiring again because they´re seeing higher sales and better profit. The unemployment rate is up as discouraged workers are returning to the job market to look for employment." [Bloomberg, 5/7/10]
John Silvia, chief economist Wells Fargo Securities:
"Job growth like this is going to sustain the recovery going forward and certainly help sustain the U.S. consumer. Businesses are coming to the conclusion that there is a sustained economic recovery." [Bloomberg, 5/7/10]
Harm Bandholz, Unicredit:
"The recovery has finally reached the labor market. Total and private payrolls rose in April at the fastest pace since May 2006. During the last four months, the US economy has created a total of 573,000 jobs, 483,000 of them in the private sector. Most of these job gains occurred in professional business services, education & health, leisure & hospitality and in manufacturing. In April, there was no sector that continued to cut back on employment on a large scale." [Wall Street Journal, 5/7/10]
Stefane Marion, chief economist at National Bank Financial Inc.:
"The hiring process has begun in the U.S. It´s a very encouraging outlook for the U.S. We expect the job creation to continue in the coming months." [Bloomberg, 5/7/10]
Kurt Karl, chief U.S. economist at Swiss Re:
"I think we are moving into this very reassuring range of strong employment growth. It is consistent with the way the economy is going." [Reuters, 5/7/10]
Zach Pandl, an economist at Nomura Securities International:
"The trend is improving. The economic recovery is gaining momentum." [Reuters, 5/7/10]
These economic and fiscal policies created the Bush recession — the worst financial crisis since the Great Depression — with job losses of nearly 800,000 a month — and nearly doubled our national debt.
Democrats in Congress will continue to take America in a New Direction, working to create American jobs and a strong new foundation for economy, protecting Main Street and the middle class. We´re getting results.
FROM THE EXPERTS...
Mark Zandi, chief economist and co-founder of Moody´s Economy.com:
"It feels like a light switch went on in many businesses this spring. The job gains in March and April were strong and broad-based across industries. Most encouraging is the job growth in manufacturing and construction which have been the most serious drags on the job market." [McClatchy, 5/7/10]
James O´Sullivan, chief economist at MF Global:
"This is unambiguously a strong report for growth implications. It adds to the evidence that the pick-up in growth is leading to a clear cut pick up in employment. It is very clear there has been a bounce here, and momentum has been up." [New York Times, 5/7/10]
Joel Naroff, president of Naroff Economic Advisors:
"Clearly companies have a newfound confidence in the future of the economic recovery and on the part of their own business prospects. The broadbased job gains are an indication that businesses are feeling more comfortable about expanding their work forces." [AP, 5/7/10]
Stuart Hoffman, chief economist at PNC Financial Services Group:
"Employers are hiring again because they´re seeing higher sales and better profit. The unemployment rate is up as discouraged workers are returning to the job market to look for employment." [Bloomberg, 5/7/10]
John Silvia, chief economist Wells Fargo Securities:
"Job growth like this is going to sustain the recovery going forward and certainly help sustain the U.S. consumer. Businesses are coming to the conclusion that there is a sustained economic recovery." [Bloomberg, 5/7/10]
Harm Bandholz, Unicredit:
"The recovery has finally reached the labor market. Total and private payrolls rose in April at the fastest pace since May 2006. During the last four months, the US economy has created a total of 573,000 jobs, 483,000 of them in the private sector. Most of these job gains occurred in professional business services, education & health, leisure & hospitality and in manufacturing. In April, there was no sector that continued to cut back on employment on a large scale." [Wall Street Journal, 5/7/10]
Stefane Marion, chief economist at National Bank Financial Inc.:
"The hiring process has begun in the U.S. It´s a very encouraging outlook for the U.S. We expect the job creation to continue in the coming months." [Bloomberg, 5/7/10]
Kurt Karl, chief U.S. economist at Swiss Re:
"I think we are moving into this very reassuring range of strong employment growth. It is consistent with the way the economy is going." [Reuters, 5/7/10]
Zach Pandl, an economist at Nomura Securities International:
"The trend is improving. The economic recovery is gaining momentum." [Reuters, 5/7/10]
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