Jul 30 2009
U.S. Labour Market – Insecurity Said to be Spreading
An article this morning reports on a Wall Street Journal/NBC poll titled ‘WSJ/NBC Poll: Insecurity Spreads in the Labor Market’ that found although 44% of those Americans think the economy will improve in the next 12 months, only 60% said they were ‘somewhat or very satisfied’ with their job security – down 8% from April and 10% from January. It seems to me this does not bode well for either near-term increases in retail sales or U.S. Federal, State and Municipal revenues in 2009. I think we can look to an even larger U.S. Federal Government Deficit in 2009 than currently is being forecast.
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