Saturday, October 3, 2015

‘Ugly’ Is The Word That Sums This Jobs Report - MarketWatch

By Steve Goldstein, Oct 02, 2015 Market Watch

WASHINGTON (MarketWatch) — The instant reaction to the jobs report for September could be summed up in one word: “ugly.”

 • “That couldn’t have gone much worse. We basically missed on all counts: September headline, August revisions, and hourly earnings. Only silver lining is stable unemployment rate.” — Guy LeBas, Janney Montgomery Scott.

• “The jobs market struck out in September as far as the Fed’s concerned. No rate hike in October now certainly, and 2015 looks increasingly impossible. If the Committee was looking for more improvement this isn’t it.” — Chris Rupkey, MUFG Union Bank.

• “The September report was a complete whiff. It eliminates any hope the Fed will raise rates at its next meeting. But more important it reinforces the ugly reality that this recovery has never gained momentum and likely will not without a change in economic policies.” — Douglas Holtz-Eakin, American Action Forum.

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