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Posts Tagged ‘labor market’

CFO/Duke University Survey Paints Different Picture Than Federal Reserve

Posted by Larry Doyle on December 17th, 2009 9:24 AM |

A recently released survey of CFOs paints a decidedly different picture on the jobs front than that portrayed in yesterday’s Federal Reserve release. Let’s compare, contrast, and navigate the most important trail on our economic landscape.

The Federal Reserve’s statement yesterday:

Information received since the Federal Open Market Committee met in November suggests that economic activity has continued to pick up and that the deterioration in the labor market is abating. The housing sector has shown some signs of improvement over recent months. Household spending appears to be expanding at a moderate rate, though it remains constrained by a weak labor market, modest income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment, though at a slower pace, and remain reluctant to add to payrolls;

In every report that I have read and heard, this statement has been portrayed as one in which the employment situation is improving. I am an optimist by nature, but one has to spin that statement very hard to view it as a sanguine outlook for jobs. (more…)

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