Reaction to jobs report

Not good. Most of the economists cited in the WSJ posting have very little good to say about the June employment numbers. Some examples, compiled by Phil Izzo:

--This was a very ugly labor market report, and there is no amount of lipstick that can improve its image. -Millan L. B. Mulraine, TD Securities

--Private sector job losses in excess of 400,000 this deep into a recession cannot be viewed as anything but terrible news. -Joshua Shapiro, MFR Inc.

--We are encouraged that both the narrow and broad measures of unemployment rose only marginally in June and this, along with the slowing in the rate of private sector job losses, further suggests that the recession is drawing to a close. -RDQ Economics

--Job losses and the weak average hourly wages data suggest weak consumer incomes and thereby consumer spending. The second half gain in GDP will be dominated by federal spending. The test will be if much of the transfer payments are saved, not spent. In the personal income data released last week you saw that most of the money was saved. -John Silvia, Wachovia Economics Group

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook