The nation gained a modest 94,000 jobs in November, the Labor Department reported yesterday, pulling back considerably from the previous month in the clearest sign yet that the American economy was headed for a substantial slowdown.
But the jobs report, a much-anticipated indicator of the health of the economy, also provided some comfort that the United States had not slipped into a recession and might not be weakening as rapidly as some experts feared. With business leaders expressing uncertainty about the prospects for further growth, analysts said, a better view of the direction of the economy was not likely to emerge until next year.
“The expansion is intact, but increasingly frayed,” said Mark Zandi, chief economist at Moody’s Economy.com. The job creation numbers are “indicative of a very fragile economy that will come undone unless conditions improve soon
My Forecast: Ominous signs for the economy will continue to be reported in the press. Foreclosures, bankruptcies, soup lines, & every bit of bad news will be headlined. Every bit of good news will be downplayed, or ignored completely.
All this will change precisely one day after a Democrat is elected to the presidency next year. Then the economy will miraculously be humming along, and the “homeless” will disappear (from print) for the next 4 years.