Why We Can’t Create Jobs After Three Rounds of Quantitative Easing172 views 2013-04-09 22:26 Tags: jobs buying maintain interest blank
The stock market finally did the right thing last Friday after the disastrous non-farm jobs market reading. Now there are some who suggest the extremely poor jobs market reading forces the Federal Reserve to maintain its controversial bond-buying program and maintain record-low interest rates, driving the flow of easy money—but the jobs market numbers were horrendous. I sure wouldn’t be buying jobs-related stocks at this time.
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A mere 88,000 new jobs were created in March, according to the United States Department of Labor. (Source: “Economic News Release: Employment Situation Summary,” Bureau of Labor Statistics web site, April 5, 2013.) Briefing.com had estimated the country would generate 185,000 new jobs in March, so we were short by nearly 100,000 jobs.