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Statement by Chad Stone, Chief Economist, on the July Employment Report

Bookmark and Share Report Misuse or Glitches

Publication Date: August 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Chad Stone

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Economics (Economic policy, planning, and development)

Keywords: Household income; Financial future; Economic projections; Recession

Type: News release


Consumer spending supported by the stimulus payments that Congress enacted earlier this year has kept the economy from being even weaker than it is.  But those effects won’t last, and nothing in the latest data suggests the economy is on the verge of a spontaneous rebound.