Jobs, ISM reports may spark more recession talk

http://www.marketwatch.com/story/jobs-ism-reports-may-spark-more-recession-talk-2011-08-28

WASHINGTON (MarketWatch) — Last month’s 117,000 expansion in nonfarm payrolls wasn’t even strong enough to meet population growth — and the August report may even be worse.

Economists polled by MarketWatch are expecting the Labor Department on Friday to report just 46,000 jobs outside of the farm sector created during the month.

f the consensus is anywhere near being correct, it would extend to four months a run of paltry job creation. And it’s this backdrop that is prompting President Barack Obama to deliver a major speech on Sept. 5 that in part will outline new initiatives to revive the flagging labor market.

The debt-ceiling negotiations and ensuing downgrade of the U.S Triple-A credit rating may have taken its toll, not just on sentiment but actual hiring.

will offer tinkering around the edges. He really
did not know what the speech contains but says
the conditions are not right for big things
as was done earlier.

One can always hope to be surprised.


Goolsbee was on Morning Joe and was asked about
what might be in President's speech.