DeafSCUBA98
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The number of Americans filing initial claims for jobless pay dropped last week to the lowest level since 2000, the government said on Thursday, bolstering expectations for a strong April employment report.
But labor costs rose unexpectedly in the first quarter in a mild challenge to the Federal Reserve's view inflation is no threat, while productivity increased at a respectable 3.5% annual pace.
“It looks like a darn good morning from my viewpoint,” David Wyss, Standard and Poor’s chief economist, told CNBC’s “Squawk Box.”
"It sure looks like the labor market is taking off," Wyss said. “Certainly everything’s pointing (to a big payroll jump tomorrow),” he said. “We’ve been fooled so many times in recent months that it’s hard to get too excited about forecasts of employment. It basically proves economists don’t know what they’re talking about. But everything there says another strong month for employment.”
If there is a big rise in April payrolls, then a quarter-point interest rate hike in June is likely to come from the Federal Reserve, he added
more info at http://moneycentral.msn.com/content/invest/extra/P83006.asp
But labor costs rose unexpectedly in the first quarter in a mild challenge to the Federal Reserve's view inflation is no threat, while productivity increased at a respectable 3.5% annual pace.
“It looks like a darn good morning from my viewpoint,” David Wyss, Standard and Poor’s chief economist, told CNBC’s “Squawk Box.”
"It sure looks like the labor market is taking off," Wyss said. “Certainly everything’s pointing (to a big payroll jump tomorrow),” he said. “We’ve been fooled so many times in recent months that it’s hard to get too excited about forecasts of employment. It basically proves economists don’t know what they’re talking about. But everything there says another strong month for employment.”
If there is a big rise in April payrolls, then a quarter-point interest rate hike in June is likely to come from the Federal Reserve, he added
more info at http://moneycentral.msn.com/content/invest/extra/P83006.asp