Another Excuse for More ZIRP and QE?
The August jobs report is out and its not pretty. Instead of a faster pace of jobs growth the report was disappointing and past reports were revised downward. This is just the ammunition that Janet Yellen and the Fed need to possibly extend Quantitative Easing and their Zero Interest Rate Policy. The liberal Center for Economic and Policy Research that regularly comments on the jobs reports concludes:
The remarkably weak GDP growth in this recovery is consistent with the extraordinarily weak job growth. While many have tried to explain the weakness on demographics, even if we restrict the focus to prime age men, employment is performing far worse than in prior recoveries.
Could it be that the "remarkable" weakness has something to do with the "remarkable" policies of the Fed and the Central government?