According to Ian Shepherdson of High Frequency Economics, unemployment in August was likely 9.6%, compared to 9.5% in July.
FORBES: Unemployment Likely To Remain At Least 9.5% For August
"The recovery starts right here, further Fed easing is unnecessary" said Ian Shepherdson, chief US economist at High Frequency Economics.
Ian Shepherdson of High Frequency Economics, a research firm, says house prices will rise as long as interest rates do not.
"This is recession territory, at least if the experience of 2001 is a guide, " said Ian Shepherdson, chief U.S. economist at High Frequency Economics.
According to Ian Shepherdson, of High Frequency Economics, if they had simply adjusted by the same amount as last June, private sector payrolls would have risen by 221, 000, not 57, 000.
"While a 150, 000-170, 000 per month trend in payrolls is far from booming, it is strong enough over time to keep the unemployment rate moving down, " said Jim O'Sullivan at High Frequency Economics.
The stock market rose by nearly 2% on the election result, but as Carl Weinberg of High Frequency Economics points out, Japanese stocks are still at barely 20% of the level they were at in 1989.
"These are spectacular numbers, better than the GDP and employment reports suggested, and confirm that the labour market is not at the moment the source of anything that could be plausibly described as inflationary pressure, " said Ian Shepherdson of High Frequency Economics.
The reduced supply of credit is contributing to recessionary fears that are greater in America than in the rest of the world, because the American consumer faces an unusual combination of difficulties, says Ian Shepherdson of High Frequency Economics, a research firm.
As Ian Shepherdson of High Frequency Economics points out, if firms had cut workers by enough to maintain the sort of productivity growth they enjoyed in the first half of 2000, unemployment, currently 4.2% of the workforce, would by now exceed 5%.
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