Reply #30: "Chopper" Ben opens piehole [View All]

[UpInArms]

9:53am 08/05/05 WHITE HOUSE'S BERNANKE: STILL SLACK IN LABOR MARKET

9:54am 08/05/05 BERNANKE SEES STRONG JOB GROWTH IN COMING MONTHS

edited to add the following link and text:

White House sees room for jobs growth - Bernanke

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-08-05T141612Z_01_NYG000016_RTRIDST_0_ECONOMY-JOBS-BERNANKE-URGENT.XML

NEW YORK, Aug 5 (Reuters) - The U.S. jobs market still has slack and has room for more growth, Ben Bernanke, the Chairman of the White House's Council of Economic Advisers, said on Friday following release of strong payrolls data in July.

The Labor Department said the economy had generated 207,000 jobs in July and it upwardly revised the June jobs reading to 166,000. Economists had expected 183,000 new jobs in July.

"Our view is that we can continue to have good, 180,000-plus-type job numbers for quite a while. I think there's still some slack. There is room for growth in labor markets," Bernanke said in an interview with CNBC television.

"Jobs numbers are very variable, So you can't look at them month to month. But in the last six months, jobs growth has been over 200,000 a month and that's telling us something about the job market," he said, but added there is concern that wage growth was not keeping pace with inflation.

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