If you caught Diane Swonk’s appearance on CNN earlier this afternoon, you caught most of this. But, here, on her company’s blog site, she gives a good snapshot of the latest jobs numbers and their implications for the overall economy. She’s very good at doing this.
Her bottom line:
[I blog regularly at my personal site here.]
The labor market continues to heal, but at too slow of a pace to reengage the long-term unemployed and the young. This, along with the battles yet to be fought on the budget front, will keep the Fed doing all it can to support growth in the first half of the year. Long-term asset purchases are likely to continue through the end of the year, unless some sort of miracle comes out of Washington by March.