Arab Today, arab today bernanke sees \loss of momentum\ in jobs market
Last Updated : GMT 18:13:01
Arab Today, arab today
Arab Today, arab today

Bernanke sees \'loss of momentum\' in jobs market

Arab Today, arab today

Arab Today, arab today Bernanke sees \'loss of momentum\' in jobs market

Washington - AFP

After a slew of wretched economic news, Federal Reserve Chairman Ben Bernanke has warned there had been a \"loss of momentum\" in the already tepid US jobs market. Two years into a slow and largely jobless recovery, Bernanke predicted employment and growth would eventually pick up, but that a recent soft-patch needed to be carefully monitored and that stimulative policies were still needed. \"Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established,\" Bernanke told an audience in Atlanta, Georgia. Reiterating a now all-too-familiar story of a recovery hobbled by a lack of new employment opportunities and a continued housing crisis, he told the audience that \"the jobs situation remains far from normal.\" Just 1.8 million of the nine million jobs lost in the recession have been recovered, according to official figures, dampening everything from consumer spending to business investment. On the back of a dismal employment figures for May which showed a meager 83,000 posts created by the private sector across the country Bernanke expressed concern about the high number of long-term unemployed. The Fed chairman also pointed to the moribund housing market, as evidence that the Fed\'s stimulative policies needed to be maintained. \"The depressed state of housing in the United States is a big reason that the current recovery is less vigorous than we would like,\" he said. Virtually all segments of the construction industry remain troubled, he said. Despite low lending rates and affordable house prices, buyers have been scared away from the market by a mixture of tough bank loan rules and uncertainty in the jobs market. Adding to the litany of woes, Bernanke said that the government was no longer the crutch for the economy that it was during the height of the crisis. \"Fiscally constrained state and local governments continue to cut spending and employment. Moreover, the impetus provided to the growth of final demand by federal fiscal policies continues to wane.\" But in his first public comments on the recovery in nearly a month, Bernanke gave no hints that the Fed was ready to extend a controversial $600 billion monetary stimulus package that is due to end this month. Instead, he said, \"accomodative monetary policies are still needed,\" apparently a reference to record-low interest rates. Analysts said that stance was not a surprise. \"Even though his comments struck a rather negative tone, clearly voicing his displeasure with the labor market situation, we doubt they pointed to fresh stimulus,\" said Geoffrey Yu of UBS. Bernanke added that disruptions associated with the earthquake and tsunami in Japan continued to hamper growth in this quarter, but he expected the impact to wane. \"With the effects of the Japanese disaster on manufacturing output likely to dissipate in coming months, and with some moderation in gasoline prices in prospect, growth seems likely to pick up somewhat in the second half of the year,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bernanke sees \loss of momentum\ in jobs market Arab Today, arab today bernanke sees \loss of momentum\ in jobs market

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bernanke sees \loss of momentum\ in jobs market Arab Today, arab today bernanke sees \loss of momentum\ in jobs market

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday