Roach on jobs "struggling as never before"

[David Farber <dave () farber net>]

Begin forwarded message:

From: Barry Ritholtz <ritholtz () optonline net>
Date: January 9, 2006 10:44:30 AM EST
To: dave () farber net
Subject: Re: [IP] Roach on jobs "struggling as never before"

Hey Dave,

It s not just jobs, but pretty much every data point coming out of  
BLS and BEA. The headlines all look pretty decent, but that is belied  
by the data beneath. I discussed this extensively last year on  
RealMoney (Subscription only).

The two columns have been moved to the free site:

        The Unpleasant Truth About Inflation
        10/23/2005 10:27 AM EDT
        http://www.thestreet.com/_tscs/comment/barryritholtz/10248963.html

        Rethinking the 'Strong Jobs Recovery' Scenario
        12/21/2005 7:09 AM EST
        http://www.thestreet.com/_tscs/markets/economics/10258387.html


Regards,



Barry L. Ritholtz
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The Big Picture: Macro perspectives on the Capital Markets, Economy,  
and Geopolitics
(with a dash of music and film thrown in!)
http://bigpicture.typepad.com/comments




On Jan 9, 2006, at 9:55 AM, David Farber wrote:

> Begin forwarded message:
>
> From: Peter Jones <peter () redesignresearch com>
> Date: January 9, 2006 9:52:55 AM EST
> To: dave () farber net
> Subject: Roach on jobs "struggling as never before"
> Reply-To: peter () redesignresearch com
>
> Dave - For IP, if you like. Stephen Roach's Morgan Stanley column,  
> always worth reading to start your week on a cheerful note, for today:
>
> http://www.morganstanley.com/GEFdata/digests/20060109-mon.html
>
> America’s once mighty job machine is struggling as never before.   
> The combination of subpar job creation and real wage stagnation  
> puts extraordinary pressure on the income-generating capacity of  
> the world’s most aggressive consumer.  Of course, you’d never know  
> that from the spin that followed the release of the latest monthly  
> labor market surveys of the US Bureau of Labor Statistics.  From  
> Washington to Wall Street, the verdict was nearly unanimous -- all  
> is fine on the US labor market front.  Nothing could be further  
> from the truth.




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