Excellent News, Smithers
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  • Andrew Allison

    I submit that the fact that the growth in employment is all part-time is an issue which deserves more attention that provide in this post.

  • Nick M.

    Great. We made some great growth in the stock market this year. Now get the money out of the stock market and into something more stable, lest we lose all those gains (like the tech bubble burst, the financial meltdown, etc.)

  • Nick M.

    Oh, and on the ratio aspect, that may also be a mere facade, as many people just gave up looking for work, or that the jobs they got are part-time, judging by the labor participation rates. That’s basically why unemployment is so low.

  • Marty Keller

    As soon as the Fed gives up QEing, all this nice news will disappear. Sad to see WRM forget the fundamentals this time.

  • Bruce

    This post was disappointing from a normally thoughtful blog. Maybe there is no economist on staff. The debt is unmanageable. The money to buy the debt is counterfeited. The market is at high valuations which have been created by zero interest rate policy (costing savers $425 billion annually). The jobs are part time. Hourly wages went down last month (the equivalent of a 525,000 loss of jobs). The labor participation rates is down. Food stamp and disability recipients are up. As I read somewhere, “The Federal Reserve has deprived us of a badly needed reset.” We’ll get our reset at some point and it will be a monster of a reset. It would have been over by now and we would have legitimate growth if they had let it happen.

  • FrankArden

    “..; Fed policy has pushed stocks up to record levels. But for now both public pensions and peoples’ 401(k) retirement funds are feeling the relief. ”

    Yes,the Fed has pushed up equities, but at the same time has pushed down interest rates to historic levels. This is not good for the growing number of older investors with more risk averse fixed income portfolios of bonds, CD’s, etc.

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