Business Services Industry
Job data is poetry for chief of Dallas Federal Reserve.
Knight Ridder/Tribune Business News, September, 2004
By Angela Shah, The Dallas Morning News Knight Ridder/Tribune Business News
Sep. 8--With the help of a limerick (or two), Dallas Fed chief Robert McTeer expressed faith in an economic expansion that as yet has produced fewer jobs than normal.
"I'm hopeful that mostly the soft patch is behind us," he said after a luncheon address hosted by the Greater Dallas Chamber.
Disappointing statistics u namely, in jobs data u have prompted even Federal Reserve Chairman Alan Greenspan to recently describe the economic expansion as moving through a soft patch.
And despite the government's upward revision of U.S. job growth last week, those numbers are still below the typical level of new work created at this point in a recovery.
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