Many of the effects from the shutdown haven't even touched the economy yet, says Morningstar's Bob Johnson.
Lackluster ADP data suggest that August's mediocre job growth likely seeped into September, too, says Morningstar's Bob Johnson.
We examine the possibility for higher normalized joblessness, the concerns over long-term unemployment, changes in job-sector composition, and what can possibly catalyze job growth.
Lower unemployment claims, a convergence with ADP data trends, and milder seasonal adjustment factors could modestly boost July's BLS job data above consensus, say Morningstar's Bob Johnson and Vishnu Lekraj.
Anticipating that the Fed will prolong its stimulus efforts, markets jumped this week on anemic economic news and so-so earnings.
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