Gallup notes that Fed Chairman Ben Bernanke recently said that the sudden uptick in employment could be due to larger-than-necessary cuts in the US workforce in the early days of the Great Recession. If that is the case, once companies “right-size” their own workforces, the hiring bump we’re seeing is likely to stall because the US economy is still growing a very moderate pace. Gallup even suggests that the unemployment rate could fall below 8% very soon, with positive implications for the economy and all those incumbent politicians, including President Obama, who are running for re-election.
The Gallup announcement is available here.
Paul Ausick
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