US job growth is still too mediocre to make a dent in the overall unemployment rate and on labour income. The US needs to create at least 150,000 jobs per month on a consistent basis just to stabilise the unemployment rate. More than 40 per cent of the unemployed are now long-term unemployed, which reduces their chances of ever regaining a decent job. - in The Straits of America
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.
