Investor’s Business Daily (06/04/12) Jason Ma
The deteriorating global outlook appears likely keep future hiring weak in the wake of stalled job growth in May. Factory activity around the world is decelerating or contracting at a faster pace, threatening to drag down U.S. manufacturing and keep a lid on hiring this year. “The U.S. economy is slowing down because the global economy is slowing,” says Steve Blitz, chief economist at ITG Investment Research.
Conditions for more quantitative easing seem to be coming into place as growth stalls and inflation slips below the U.S. Federal Reserve’s 2% target. But just as Fed chairman Ben Bernanke was skeptical of the winter’s hiring spike, he is likely to be skeptical of the latest skid, says Joel Naroff, president of Naroff Economic Advisors.
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