Experts react to jobs data: ‘Folks, this isn’t good news’

Posted by MarketWatch

Share on Facebook

Tweet on Twitter

Here’s a roundup of comments about Friday’s Labor Department report showing the U.S. economy added 113,000 jobs in January, and the unemployment rate fell to 6.6%. Read MarketWatch’s story.

• “Ugh. Payrolls +113k. December revised from +74k to +75k. November from +241k to +274k. Unemployment 6.6% Folks, this isn’t good news.” — Justin Wolfers, Brookings Institution senior fellow. @JustinWolfers

• “For the Fed, this report will confirm their current bias for reducing the pace of asset purchases, consistent with their expectations for the strong momentum in economic activity during the last six months of the year to be sustained in 2014. And as the weather distortions in the data begin to dissipate, we expect the tone of economic data to improve.” — Millan L. Mulraine, deputy head, U.S. research & strategy, TD Securities USA.

• “While US payroll growth of 113,000 disappointed, household survey showed huge growth of 606,000 new jobs!” — Anatole Kaletsky, chairman, New Institute for Economic Thinking.

….full story HERE