Unemployment

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Last quote about Unemployment

Ruth Gregory - Capital Economics
There have been some signs that falling unemployment has less of an effect on wage pressures than the past. And while we think that productivity growth – a sustainable source of real wage growth in the long run – is likely to stage some recovery, we are sceptical that it will catch up with pre-crisis rates.feedback
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Oct 26 2017
Unemployment has been commented on by 420 key people in the news. You can find all of them on this page with their statements. People who have been most quoted about Unemployment are: Mark Zandi, Frank-Jürgen Weise, Eric Rosengren and Francois Hollande. For instance, the most recent quote from Mark Zandi is: “Our problem going forward isn't going to be unemployment. Over the next 20 to 25 years, a labor shortage is going to put a binding constraint on growth.”.
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All quotes about Unemployment

James Smith

We think its probably too early to say this is the start of a more rapid upward trend and crunching the numbers, we don't expect wage growth to go much above 2.1pc to 2.2pc before next summer. So whilst we expect headline inflation to peak at 3.1pc next month, the gap between CPI [a measure of inflation] and wage growth is likely to stay fairly wide for some time to come.feedback

James Smith

There has certainly been some renewed momentum in the level of regular pay having come to a standstill earlier this year. But at this stage, we put this down to temporary drags starting to unwind (things like pension changes and the apprenticeship levy, both of which the Bank of England has previously highlighted).feedback

Kallum Pickering - Joh. Berenberg, Gossler & Co.

With little slack in the labour market, the degree of mismatch between the skills of the remaining workers and the skills demanded by firms will widen, this should underpin a modest acceleration in wage growth over time.feedback

Frances O'Grady

Pay packets are taking a hammering. This is the sixth month in a row that prices have risen faster than wages. The Chancellor must help struggling families when he gives his Budget next month. This means ditching the artificial pay restrictions on nurses, midwives and other public sector workers. And investing in jobs that people can live on.feedback

Damian Hinds - Department for Work and Pensions

Our economy is helping to create full time, permanent jobs which are giving people across the UK the chance of securing a reliable income. We've boosted the income for people on the lowest pay by increasing the National Living Wage and delivered the fastest pay rise for the lowest earners in 20 years. That's great progress and we're determined to help more people flourish in the world of work.feedback

Michael Hewson - CMC Markets

The markets have already priced the rate hike in and it would probably take a significant disappointment in today's wages and unemployment data to alter that calculation.feedback

Andrew Chamberlain - Glassdoor

Given that we're in the best labor market we've seen in a generation, highlighted by healthy job growth, low unemployment and wages steadily growing, it's not a surprise to see a gap between what most Americans are currently earning and what they could be earning.feedback

Stephen Clarke - Resolution Foundation

Today's figures confirm the big picture trend that the UK labour market is great at creating jobs, but terrible at raising people's pay.feedback

Donald J. Trump

Since Election Day on November 8, the Stock Market is up more than 25%, unemployment is at a 17 year low & companies are coming back to U.S. The U.S. has gained more than 5.2 trillion dollars in Stock Market Value since Election Day! Also, record business enthusiasm.feedback

Lael Brainard - Federal Reserve System

The combination of low interest rates and low unemployment that would prevail during the inflation overshooting period could well spark capital markets to overextend, leading to financial imbalances. Markets might overshoot.feedback

Peter Praet - European Central Bank

We are undoubtedly experiencing a solid, broad-based and resilient economic recovery that is contributing to a narrowing of the output and unemployment gaps. But there still appears to be a disconnect between growth and inflation.feedback

Paul Ashworth - Capital Economics

In short, the majority of Fed officials are worried that core inflation might not rebound quickly, but that isn't going to stop them from continuing to normalize interest rates, particularly not when the unemployment rate is getting so low. A few wanted to delay the next rate hike until there were clear signs of a rebound in core inflation, but most were content to simply wait for the next few inflation reports.feedback

Donald J. Trump

Stock Market has increased by 5.2 Trillion dollars since the election on November 8th, a 25% increase. Lowest unemployment in 16 years and if Congress gives us the massive tax cuts (and reform) I am asking for, those numbers will grow by leaps and bounds. #MAGA. It would be really nice if the Fake News Media would report the virtually unprecedented Stock Market growth since the election. Need tax cuts. The Democrats want MASSIVE tax increases & soft, crime producing borders. The Republicans want the biggest tax cut in history & the WALL!feedback

Charles Evans - Federal Reserve System

There is room for honest discussion later this year whether it is the right time to raise rates. The state of the economy is quite strong, unemployment low, the labor market is good. It makes sense to continue to increase policy gradually as we assess whether inflation is going to get to the 2 percent objective.feedback

Meritxell Relano - UNICEF

It is impossible to say how many kids are being pulled out of school now to be married off or sent to fight, but we know that more and more parents are doing this. The lack of livelihood and unemployment is forcing them to do this.feedback

Rolf Noskwith

There is a real knock-on effect and Strabane has the highest unemployment in the country.feedback

Richard Piccirillo

Everyone knew the report would be confusing because of the distortions from [hurricanes] Harvey and Irma. But despite the distortions, average hourly earnings went down and unemployment went down. I think the bond market is reacting a bit to that.feedback

Paul Ashworth - Capital Economics

Overall, the Fed and the markets will just ignore this report. If past-storms, particularly Katrina, are any guide, employment will rebound markedly over the next few months. The drop in the unemployment rate might persist, however, with consumer and small business surveys both pointing to a drop in the unemployment rate to nearer 4% for some time.feedback

David Riley - BlueBay Asset Management

Today's U.S. employment report confirms that Janet Yellen's likely penultimate FOMC meeting as Chair in December will mark the third Fed rate hike this year. If falling unemployment is at last fuelling meaningful wage inflation - and it is important to acknowledge that it is the first notable upward wage surprise for several months – market expectations of the path of Fed rates for 2018 will also have to move higher.feedback

Donald J. Trump

Stock Market hits an ALL-TIME high! Unemployment lowest in 16 years! Business and manufacturing enthusiasm at highest level in decades!feedback

Larry Summers

There are a bunch of people who were knocked out by the recession who aren't coming back even in the places where unemployment has fallen.feedback

Matthew Luzzetti - Deutsche Bank

The Fed's response is critical to these results. If instead we constrain the Fed to not react to the tax cuts, we find that growth is meaningfully higher, the unemployment rate is much lower, and core inflation would overshoot the Fed's target, potentially by a large amount. These results depict very clearly why we should expect the Fed to tighten monetary policy at least modestly faster than they currently anticipate if tax cuts are passed.feedback

Neel Kashkari - Federal Reserve

My preference would be not to raise rates again until we actually hit 2 percent core PCE inflation on a 12-month basis, unless we have seen a large drop in the headline unemployment rate signaling that we have used up remaining labor market slack, or a surprise increase in inflation expectations.feedback

Joachim Fels - Pimco

All the evidence shows that tax cuts, tax reform can be very effective, if there is considerable slack in the labor market if unemployment is relatively high. If you get a fiscal boost and tax reform this late in the cycle where most of the slack in the market is eroded, you're not going to get a lot of bang for your buck.feedback

Lael Brainard - Federal Reserve System

It seems likely that racial differences in unemployment rates will continue to shrink if the overall unemployment rate falls further.feedback

Pierre Gattaz

Since workers and employers pay in contributions for unemployment, I prefer that we keep it under our control.feedback

Michel Beaugas - Force Ouvrière

What we want is that the government leaves it to us to negotiate both unemployment benefits and professional training.feedback

Michel Beaugas - Force Ouvrière

We don't want this to become an attack on joint management because we think we have shown we can manage unemployment insurance.feedback

Angela Merkel

We need every vote so that we can continue to live well and to enjoy living in Germany. That's why we don't rest on our laurels, on the fact that we managed to cut unemployment in half over the past 12 years, that we've managed to create more than five million new jobs, but we know that we live in the 21st century – a time where we need to always find new answers to new challenges.feedback

Luther Strange

Many of the people that are supporting you look like the unemployment line at the White House – they're fired.feedback

Emmanuel Macron

At the very beginning of your mandate, you have political capital–you have to use it. I don't mind to be very high in terms of popularity, and so on. My country has to be reformed. I have 10 percent unemployment rate, I have almost 25 percent of my young people being unemployed. It's useless to have political capital and stay in such a situation.feedback

Alison Johnston

The biggest asset Macron has right now is time. He is at the start of a long five-year presidential term, so if he can push these labor market reforms through quickly and if they manage to make a dent in France's unemployment rate … he could ride out current opposition now and capitalize on potential beneficial effects later.feedback

Donald J. Trump

Fortunately, the United States has done very well since Election Day last November 8th. The stock market is at an all-time high, a record. Unemployment is at its lowest level in 16 years, and because of our regulatory and other reforms, we have more people working in the United States today than ever before.feedback

Mark Zandi - Moody's Analytics

Our problem going forward isn't going to be unemployment. Over the next 20 to 25 years, a labor shortage is going to put a binding constraint on growth.feedback

Alan Krueger - Council of Economic Advisers

We have had real wage growth, but the labor supply has been flat for the last two years. We get a very small number of workers back with higher wages, just enough to offset the people leaving the labor force because they are older.feedback

Kondwani Fidel Russell

Anytime you talk about crime and you don't talk about unemployment, or don't talk about where it stems from, it's a racist idea. The real way to fight crime is not about throwing people in jail. It's about creating jobs. Everybody know that.feedback

Tim Martin

It is my view that the main risk from the current Brexit negotiations is not to Wetherspoon, but to our excellent EU suppliers - and to EU economies. Juncker, Barnier, Selmayr, Verhofstadt and others need to take a wise-up pill in order to avoid causing further economic damage to struggling economies like Greece, Portugal, Spain and Italy - where youth unemployment, in particular, is at epidemic levels.feedback

Dan Schawbel

Even though the economy might be doing better in terms of unemployment, there's still a skills gap.feedback

Guntram Wolff - Bruegel

The last 12 months has been good in terms of economic growth, unemployment and job creation. However that does not mean youth unemployment and long-term unemployment are no longer issues.feedback

Philippe Martinez

No reform that's destroyed labour rules in any country has ever slashed unemployment rates. It generates precariousness, undeclared work, but it doesn't solve the issue of stable employment, a job on which people can build their lives.feedback

Issi Romem - BuildZoom

You have a country that's divided between high cost places like Bay Area and New York and higher unemployment areas like Detroit, and places like Houston pick up the slack.feedback

Peter Gowers

Even if the hotel industry recruited virtually every person on the unemployment register there wouldn't be enough people to fill all the roles needed in the 10 years following Brexit. That's particularly the case in London.feedback

Ian Shepherdson - Pantheon Macroeconomics

Claims will rocket over the next couple of weeks as people who have lost their job as a result of Hurricane Harvey file for unemployment benefits.feedback

Jeremy Leaf

It is worth remembering that house price growth is being underpinned by a shortage of supply, including housebuilding, historically low mortgage rates and relatively low unemployment, rather than strong buyer demand. Fewer transactions are taking place where affordability has been most stretched due to lack of new and existing stock – such as in London – and inflation higher than wage growth.feedback

Kallum Pickering - Joh. Berenberg, Gossler & Co.

Producers will only automate if doing so is profitable. For profit to occur, producers need a market to sell to in the first place. Keeping this in mind helps to highlight the critical flaw of the argument: if robots replaced all workers, thereby creating mass unemployment, to whom would the producers sell?feedback

Elise Gould - Economic Policy Institute

When you think about wanting to reach all corners of the labor market, you think about… those people that historically have had elevated unemployment rates.feedback

Mark Zandi - Moody's Analytics

At this pace, unemployment, which is already low, is going to fall lower and it's on track to go below 4 percent by this time next year. I think that's slowly picking up – it just takes time. Workers are out of practice asking for pay increase.feedback

Steve Rick

The labor market is just so tight out there. The unemployment rate could tick down to 4.2 from 4.3 percent.feedback

Simon Stevens

When it comes to mental health, what's good for patients is also good for taxpayers, because untreated mental health problems directly affect work, unemployment and benefits.feedback

Philippe Martinez

All studies show that there is no relationship between collective rights and the fight against unemployment.feedback

Édouard Philippe

Of course, we know that labour laws are not the primary cause of unemployment in France. But we also know that if we want to move forward on the question of employment, we have to deal with all aspects, all causes of unemployment together.feedback

Édouard Philippe

France is a state governed by the rule of law, with social protections, and this will remain so because it is in our nature and our history. But we also have to take into account our situation and the state our country finds itself in, and one thing that characterises today's France is decades of mass unemployment.feedback

Emmanuel Macron

We are the only major economy in the European Union that has not defeated mass unemployment for more than three decades. I'm going to have to live for months with the impatience of the people. I'm going to have to think about changing tack, explain where we're going and what kind of France we want to build. I need to act profoundly, without giving in on anything. The French will be ready to believe again when the results are there.feedback

Emmanuel Macron

The principal victims of our impotence of the past 30 years faced with mass unemployment are the young and the less qualified.feedback

Rob Carnell

If we've got growth at trend, which most places appear to have, if we've got the unemployment rate at full employment, which most places appear to have, then we shouldn't even worry about what inflation is doing. This constant attempt to drive it higher and make it bigger, because it's not 2 percent is just wrong.feedback

Edward Smythe

The inverse relationship between unemployment and inflation is dead. The proliferation of low-wage, irregular and insecure jobs means that wage pressures - and therefore spending power - are subdued even as unemployment falls.feedback

Emmanuel Macron

The reality is that France is the only European economic power that hasn't won the war against mass unemployment.feedback

Malena Teszkiewicz

Ushuaia was a city of low unemployment, a city of opportunity where many people from all over Argentina came to find a well-paying job. We're starting to feel that situation changing.feedback

Ralph Petta

Business fundamentals appear solid, with low unemployment, continued low interest rates and an active equities market buoying the economy.feedback

Salma Nims

We have a real problem of how our young men are being raised and how ideas of masculinity are being constructed. Poor education, unemployment, the inability to get married – these issues have become the center of their existence and where honor is an issue.feedback

Kallum Pickering - Joh. Berenberg, Gossler & Co.

Producers will only automate if doing so is profitable. For profit to occur, producers need a market to sell to in the first place. Keeping this in mind helps to highlight the critical flaw of the argument: if robots replaced all workers, thereby creating mass unemployment, to whom would the producers sell? Because demand is infinite whereas supply is scarce, the displaced workers always have the opportunity to find fresh employment to produce something that satisfies demand elsewhere.feedback

Richard Branson - Virgin Group

A key point is that the money will be paid even if the people find work. The initiative aims to reduce unemployment and poverty while cutting red tape, allowing people to pursue the dignity and purpose of work without the fear of losing their benefits by taking a low-paid job.feedback

Matt Hughes

New figures on the number of workers who say they are on zero-hours contracts show a small drop on last year.feedback

Ruth Gregory - Capital Economics

The latest labour market figures provided some signs that the tightening in the labour market may be leading to a recovery in wage growth at long last. Earnings growth still needs to gather more pace in order to match the rise in consumer price index (CPI) inflation – which we expect to peak at about 3pc later this year. But at least CPI inflation is likely to fall back next year as the impact of the drop in the pound dwindles. What's more, the tightness of the labour market should deliver further rises in nominal wage growth over the coming quarters.feedback

Nikesh Sawjani - Lloyds Bank

The UK labour market remained strong in the second quarter despite some signs of faltering economic momentum. With wage growth showing some tentative signs of picking up and headline inflation close to its peak, the squeeze on the consumer may be starting to ease.feedback

Paul Ashworth - Capital Economics

The Nazis reduced the German unemployment rate from 42 percent in 1932 to 0.9 percent in 1939. Race relations did not improve.feedback

Matt Hughes

The employment picture remains strong, with a new record high employment rate and another fall in the unemployment rate. Despite the strong jobs picture, however, real earnings continue to decline. The number of workers born elsewhere in the EU continues to increase, but the annual rate of change has slowed markedly.feedback

Enrique Greco

Macri made an adjustment that only benefited the millionaires. There's more poverty and more unemployment.feedback

Alexis Stenfors

Regulators have made a lot changes and beefed up their capabilities, central bankers have intervened with all these extraordinary measures, but the economies are not doing that great. Unemployment and GDP in some countries is OK, but overall – if you look at the eurozone, for instance – it's not been a nice ride the last few years.feedback

Cyrus R. Vance Jr.

New Yorkers with 10-year-old summons warrants face unnecessary unemployment risk, housing and immigration consequences. And because they fear they will be arrested for the old infraction, they often don't collaborate with law enforcement.feedback

Ras Baraka

We knew that, ultimately, in order to transform the city, we had to attack poverty and unemployment. I think we have an opportunity here, because everybody is at the table, and they probably haven't been at the table in this magnitude in a very long time, if ever.feedback

Amit Kara

Our view is that consumer spending will be squeezed and households will look to start rebuilding savings from here. We have a modest rise in unemployment in our forecast and historically a rise in unemployment has been accompanied by higher savings. There are, of course, huge risks around this view, including the possibility that consumer spending powers ahead and household saving falls further.feedback

Michael Mulligan

Nothing has changed in the past five or six years. Ballaghaderreen is a fine town and I'm proud of it, but the unemployment is chronic. My takings are still 50% down from the boom years, and I've had to let people go. There are around 150 vacant houses and 30-40 big industrial units lying empty. We're like a thorn in the side of the success that the Dublin government talks about. If you look around for young people here, they've nearly all gone, to Dublin, London or Australia. It's hard even to put together a football team.feedback

Jan Hatzius

All of it looks quite solid from the demand side but what's not sustainable is to see these kinds of numbers with the unemployment rate as low as it is, U6 as low as it is. I'm not saying it's going to stop in the next few months but we're not going to be able to sustain that kind of job growth in the long term. I think the trend is probably below (100,000).feedback

Erik Britton

If not now, when? If we can't do it when inflation is above target, when unemployment is at its 'natural rate' and when growth is reasonable, I don't know when we're going to do it.feedback

Mark Zandi - Moody's Analytics

The American job machine continues to operate in high gear. Job gains are broad-based across industries and company sizes, with only manufacturers reducing their payrolls. At this pace of job growth, unemployment will continue to quickly decline.feedback

Donald J. Trump

Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising, border secure, S.C.: No WH chaos!feedback

Alan Clarke

The door is still open to a hike, but it doesn't look imminent. It was more dovish than we had feared. The most striking thing is that they have downgraded the outlook for wages despite lower-than-expected unemployment, and the inflation profile is a bit lower, despite a weaker pound.feedback

Ron Joslin

I don't believe the numbers reflect what's really happening. You want to see what's really happening, go to the unemployment office and see how many people are there and how long they've been unemployed.feedback

Nitin Gadkari

We won't allow driverless cars in India. I am very clear on this. We won't allow any technology that takes away jobs. In a country where you have unemployment, you can't have a technology that ends up taking people's jobs.feedback

Tom Susman - TSG Consulting

There's been a drastic change since 2015. The coal industry has collapsed, [there is] rampant unemployment, an opioid crisis that's come full bloom.feedback

Ted Wieseman - Morgan Stanley & Co. International

That matches up well over time with actual labor market conditions and is a component of the Fed's labor market conditions index. The latest gain indicates the unemployment rate is still falling to new lows.feedback

Clancy Sigal

Without looking twice I knew who was there. A hamburger-joint proprietor who wanted to be a writer-director. A one-book novelist from Chattanooga who wasn't quite sure what he wanted to do in Hollywood but was sure that wasn't his problem. A once-important actor who had written a play about Lord Byron and wanted to play the lead. A Bronx Cocteau with a screenplay for sale about a homosexual who kills a cop and falls in love with the cop's wife. The Rin-Tin-Tin series writer who had written a 'comedy' about an unemployment agency; I couldn't sleep the night I read it.feedback

Nick Otto

I quickly realized the city looked very different to me than what I imagined. I initially wanted to do something on the unemployment rate. It was going to be the city's current struggles on the 25th anniversary of war. That was the intent and the story is definitely there, but I found myself drawn to the color I was seeing around the city.feedback

Jim O'Sullivan - High Frequency Economics

Fed officials believe that market participants are underappreciating the inflation implications of the downtrend in the unemployment rate, and that they have overreacted to some weaker-than-expected inflation data. However, Fed officials will not follow through on their policy projections if the labor market weakens and the recent slowing in core inflation continues.feedback

Jared Bernstein

A study from the Federal Reserve underscores the importance of full employment for minority workers.feedback

Ben Broadbent - Bank of England

If you look at the past six to 12 months, economic growth has been okay and the employment rate good. Unemployment has drifted down a little … and inflation is higher. There is reason to see the committee moving in that direction (higher interest rates) – but there are still a lot of imponderables.feedback

John Hawksworth - PricewaterhouseCoopers

In the 1970s or 1980s such low unemployment, combined with inflation rising towards 3%, could have set off a wage-price spiral. Real earnings growth remains deep in negative territory and this seems unlikely to change any time soon. This will dampen consumer spending power, though the continued strength of the jobs market should prevent the recent slowdown in the economy turning into a recession.feedback

Michael Hewson - CMC Markets

It is expected that this number will rise to 1.9pc, and that over the next few months the gap with inflation will then start to close again, particularly if unemployment continues to remain at 42 year lows of 4.6pc. This number is expected to stay unchanged, while the employment rate is expected to stay at or near its record levels of 74.8pc.feedback

Theresa May

We will build on the strengths of our labour market. While avoiding overbearing regulation, we will make sure people have the rights and protections they need. That means building on our high employment rate and low unemployment rate – and continuing to strive for full employment.feedback

Erin Gibbs - S&P Global

These are big numbers to watch after the meager wage growth last week. Overall, the unemployment report was great. There were very good unemployment numbers, but the one thing that was really concerning was flat wage growth. So now we need to see if there is inflation anywhere within the U.S. economy that meets the Fed's 2 percent inflation target.feedback

Stephen Gallo - BMO Capital Markets

What the Fed is leaning on to justify normalisation policy is a pick-up in nominal wage pressure, . Provided that the unemployment drop is being driven by good things - people in the labour force finding new work - that would silence the Fed naysayers for a while. It reduces the risk of a more dramatic selloff in the dollar short-term.feedback

Aaron Klein - The Brookings Institution

There's room to run in this economy. If you look at what happened in the late 90s, you had unemployment below three [for the U-3] and below eight [for the U-6].feedback

Michael Stull

I would characterize the market as OK but not great. I would feel a little bit better if some of the contradicting numbers of low unemployment rates and low wage growth were more in line with each other.feedback

Martha Ross - Brookings Institution

Even in an era of low national unemployment, with recent jobs reports showing the national unemployment rate ticking down close to 4 percent, jobs are not always available, and not everyone who wants work can find it. There is no one-size-fits-all approach to help people prepare for and find jobs.feedback

Sam Bullard - Wells Fargo Securities

June's employment report could provide sufficient evidence to Fed officials that they are still positioned to proceed with their monetary policy normalization plans in the second half of the year.feedback

Ryan Sweet - Moody's Analytics

The days of month after month of 200,000 jobs being created are likely behind us. We will see trend job growth continue to moderate. That doesn't necessarily signal that the expansion is running out of juice or that a recession is imminent, it is just a symptom of a full-employment economy.feedback

Mark Zandi - Moody's Analytics

The job market continues to power forward. Abstracting from the monthly ups and downs, job growth remains a stalwart between 150,000 and 200,000. At this pace, which is double the rate of labor force growth, the tight labor market will continue getting tighter.feedback

Ofer Sharone

What does it mean for a man to take a low-paying job that's typically associated with women? What kind of price will they pay with their friends, their lives, their wives, compared to unemployment?feedback

Keith Brown

Today's figures are welcome and reinforce the fact that the fundamentals of Scotland's economy are strong. Scotland's output is now six per cent the pre-recession level and unemployment is at its lowest ever level.feedback

Chris Grayling

There is always going to be a debate around the Cabinet table about what to do and we are not all clones. But the bottom line is we are a team, we will do our best by the country, we will take decisions at future budgets that try to find the right balance between the competing pressures of spending money on public services and public employees where it is necessary to do so and also making sure we have the right economic policy to continue that growth, to continue the fall in unemployment.feedback

Clive Fenton

The Group has made good progress in rebuilding its forward order book despite the lower number of new sales releases this year. The market for high-quality retirement housing remains strong notwithstanding any potential uncertainty as a result of the UK General Election outcome and the underlying housing market continues to be supported by low interest rates, good mortgage availability and low levels of unemployment.feedback

Michael Saunders - Bank of England

Prepare for higher interest rates. I think households should prepare for interest rates to go higher at some point. But if rates do go up, it will be in the context of the economy doing OK and unemployment being low and probably falling. We are not constrained from adjusting interest rates during the Brexit period. There's no sense that policy has to stay on hold just because Brexit negotiations are under way.feedback

Bruno Le Maire

Finance is not the enemy, unemployment is the enemy. Attracting major U.S. banks to Paris, rather than letting them settle in London, Dublin, Amsterdam or Frankfurt, is about creating jobs in France, bringing wealth to France.feedback

Peter Wittig

We have an extremely good economic run: record low unemployment, record low youth unemployment, ... pretty good social-security system, less people that feel left behind, less losers of globalization, not a dramatic inequality. So there's a strong social tissue and that has helped us. So nationalism is checked and there's no scapegoat. We have benefited from Europe. We don't have this anti-Brussels discourse.feedback

Erin Gibbs - S&P Global

I'm looking for the unemployment rate to remain relatively stable, around 4.3 percent. What I'm really looking for is the wage growth. That's where we want to see some inflation and some healthy growth within the U.S. consumer.feedback

Josh Bivens - Economic Policy Institute

A big chunk of the national debt was incurred because of the economic crisis. As the economy just cratered in 2008, 2009, and 2010, tax collection just cratered along with it, and [then with spending on] automatic stabilizers like unemployment insurance, food stamps, and some legislation like the Recovery Act, there was a large increase in the national debt over those years.feedback

Robert J. Samuelson

The Phillips Curve, a tool that shows the relationship between inflation and unemployment, has shifted.feedback

Mark Cuban

I'm willing to bet that these companies building new plants ... this will lead to fewer people being employed. People aren't going to have jobs. Automation is going to cause unemployment, and we need to prepare for it.feedback

Vitor Constancio - European Central Bank

The unemployment rate now is 9.3 (percent) according to the normal international standard of measuring employment …. But if we adopt, as in the U.S., a broader concept of unemployment (which in the U.S. they call U6) then unemployment in the euro area is at 18 percent whereas it is at 9 (percent) in the case of the U.S. which would imply that the slack is then bigger than we could judge some time ago.feedback

Ed Murray

Seattle's $15 minimum wages is raising pay for low-wage workers, while our City's economy is booming and unemployment is at historic lows. Businesses across the city are competing for employees and our city is in the midst of a period of nearly unprecedented growth. Raising the minimum wage helps ensure more people who live and work in Seattle can share in our city's success, and helps fight income inequality. It isn't just the right thing to do, it's the smart thing to do.feedback

Niro Sivanathan

The main takeaway is that whenever individuals feel a lack of control in their environment or their lives. If people were living in a Zip code where the poverty rate, unemployment rate and housing vacancy rate were high, they showed a greater preference for voting for Trump.feedback

Claudio Borio - Bank for International Settlements

Economic slack in the major economies has diminished further; in some, unemployment rates have fallen back to levels consistent with full employment. And inflation has moved closer to central bank objectives.feedback

Ofer Sharone

Marriages have more problems when the man is unemployed than the woman. What does it mean for a man to take a low-paying job that's typically associated with women? What kind of price will they pay with their friends, their lives, their wives, compared to unemployment?feedback

Daan Struyven - Goldman Sachs Group

We see some room for changes in business dynamism and demographics to reduce the longer-run sustainable unemployment rate further.feedback

Lloyd Blankfein

We didn't have 25 percent unemployment in the country [like in the Depression]. In fact, it never got to really 10 percent unemployment, and I think all that stimulus, all that interest rates being dropped to 0, all that quantitative easing in this country, achieved ... [a] shallower recession.feedback

Katherine A. Fowler - Centers for Disease Control and Prevention

There isn't a single issue in isolation that increases the likelihood of gun death. Children are at a higher risk of violence if they have academic problems, encouragements to be aggressive, and limited adult supervision. The likelihood of violence is also higher in communities with high levels of instability, gang activity, drug sales, unemployment or poverty.feedback

Jim Cramer

I hope Lennar can solve some of the conundrum about whether the consumer's weak, like the bond market says, or strong, like the unemployment rate says. We need answers. I bet CEO Stuart Miller will have some great perspective. He always does.feedback

Ian Shepherdson - Pantheon Macroeconomics

One side has to blink, and given the Fed's 50-year obsession with the unemployment rate, it's unlikely to be Dr. Yellen.feedback

Ian Shepherdson - Pantheon Macroeconomics

The unemployment rate has dropped by half a point in the past four months, but the Fed now expects, comically, no further decline across the rest of the year. This makes no sense at all and likely will have to be revised in September.feedback

Gwen Moore

President Trump's reported nominees at the Federal Reserve hold opinions radically outside the mainstream of the American public and the economic consensus. Emerging economic research indicates we can tolerate higher inflation if the trade off means higher wages and lower unemployment.feedback

David Gauke - Treasury

This is yet another strong set of record-breaking figures, with employment up and unemployment down, fuelled by full-time opportunities. This is good news for families as we continue to build a stronger, fairer Britain.feedback

Stephen Clarke - Resolution Foundation

The terrible news on pay comes despite another strong jobs performance, with unemployment remaining at its lowest level in over 40 years. The sharp contrast between our terrible record on pay and strong jobs performance shows that the currency-driven inflation we are experiencing is not feeding through into wage pressures and is simply making us all poorer instead.feedback

Chris Rupkey - MUFG Union Bank

It's still premature to say they need to alter their policy. The basic textbook theory is that unemployment is lower than where it should be normally, and in these circumstances, inflation can gain a foothold if they don't normalize rates. It's really theory trumping the actual economic data. I know they say they're data dependent. I don't think they're data dependent on inflation.feedback

Carl Tannenbaum - Northern Trust

If you would have told me that U.S. unemployment rate would be down to 4.3 percent and still have core inflation struggling to get above 1.5 percent, I would have been very, very surprised.feedback

Donald J. Trump

I believe the James Comey leaks will be far more prevalent than anyone ever thought possible. Totally illegal? Very 'cowardly!'. The #FakeNews MSM doesn't report the great economic news since Election Day. #DOW up 16%. #NASDAQ up 19.5%. Drilling & energy sector …way up. Regulations way down. 600,000+ new jobs added. Unemployment down to 4.3%. Business and economic enthusiasm way up- record levels!feedback

Imer Mushkolaj

These economic promises will not materialise without foreign investment or building new economic capacities that will lower unemployment. Unemployment and poverty are the main problems in Kosovo's society.feedback

Joseph Stiglitz

The only time when the unemployment rate for these groups goes down and wages go up is when we have a very tight economy, much tighter than the Fed has in mind when it's focusing on a 2 percent inflation target. As far as workers go, the answer is unambiguous: They are the winners in this.feedback

Joel Kan

Mortgage application volume increased strongly coming out of the Memorial Day holiday. With mortgage rates at their lowest level since November 2016, and the unemployment rate at its lowest level since May 2001, purchase application volume increased to its highest level since May 2010. Refinance activity bumped up as well in response to moderating rates, but remained generally subdued.feedback

Martin Ellis - Nationwide Building Society

The fact that the supply of new homes and existing properties available for sale remains low, combined with historically low mortgage rates and a high unemployment rate, is likely to support house price levels over the coming months.feedback

Bruce Stokes

Even in advanced economies where people think they are doing well, like Germany, the Netherlands and Sweden, they are worried about their kids' financial prospects. Clearly, even though unemployment is falling and growth is returning after the financial crisis, this pessimism raises questions about whether this is a temporary phenomenon.feedback

John Hickenlooper

We worked very hard to reduce red tape, to try to attract young entrepreneurs. We have over 2,000 companies that do either renewable energy or clean tech. In the short term, more than 60, 000 employees. We have always been the world leader in, not just business, but all kinds of issues. We don't see more people doing more marijuana in Colorado after legalization. It's through a regulated process now. But we haven't seen a big spike in teenage consumption, we haven't seen a big spike in any consumption.feedback

John Hickenlooper

We have a $28 billion state budget overall, and $200 million is just a drop in the bucket there.feedback

Michael Feroli

While the message was a little muddied today, the evidence generally suggests the labor market is cyclically tightening, and the Fed will need to continue to lean against that. We still believe it is very likely that the Fed will hike [rates] later this month. Perhaps more in question is the signal coming out of that meeting regarding subsequent hikes.feedback

Daniel Mahoney

The Conservative Party's pronouncements on restricting foreign takeovers and boosting employment rights for workers are of some concern. The UK's flexible labour market is the fundamental reason why we are experiencing low unemployment compared to many other EU countries.feedback

James Smith

Today's US jobs report would have had to be horrendous to worry the Fed, and the sub-consensus wage and jobs numbers won't derail a June rate hike. May had three more workdays than April, and as the data doesn't adjust for this, average hourly earnings will have been temporarily depressed.feedback

Kellyanne Conway

Guessing this headline on @CNN is more relevant than 'Russia' to real people: 'U.S. Unemployment hits lowest level since 2001.feedback

Mark Hamrick

While the Federal Reserve might not be dissuaded from raising interest rates at this month's meeting, the jobs numbers might make the debate at least more vigorous. The lack of more substantial inflation also argues against a future trajectory of aggressive rate hikes.feedback

Thomas Julien - Natixis North America

While today's pace of job gains disappointed, the unemployment rate kept drifting downward, well below its long-term level. A hike in June is still on the table but the news flow will have to improve for the Fed to keep tightening in the second part of the year.feedback

Robert Gardner - Nationwide

While real incomes are again coming under pressure as inflation has overtaken wage growth, the number of people in work has continued to rise at a healthy pace. Indeed, the unemployment rate fell to a 42-year low in the three months to March. If history is any guide, the slowdown is unlikely to be linked to election-related uncertainty. Housing market trends have not traditionally been impacted around the time of general elections. Rightly or wrongly, for most home buyers, elections are not foremost in their minds while buying or selling their home.feedback

Mark Zandi - Moody's Analytics

I think 4 percent unemployment is dead-ahead, and we'll probably go past that.feedback

Julie Rabinowitz

This is the lowest unemployment rate the state has had probably ever. We need every Mainer. We don't care where they are.feedback

Hansen Lu - Capital Economics

In addition, and perhaps more importantly, high house prices are both discouraging some potential buyers and pricing others out of the market entirely. That helps to explain why buyer enquiries struggled to recover after falling sharply in response to the Brexit vote and stamp-duty surcharge last year. There is room for optimism. The unemployment rate remains very low, and mortgage rates look very attractive compared to past norms. As a result, we expect mortgage approvals to stabilise in the months ahead and end 2017 up slightly compared to the start of the year.feedback

Mark Sanford

It assumes that the stars perfectly align with regard to economic drivers. Can you guess the last time we had an unemployment rate of 4.8 percent, growth of 3 percent and inflation held at 2 percent? It's never happened.feedback

Carl Hanser

We're very concerned to be seeing an increase in homelessness among education professionals, including teachers. We would urge anyone in the sector who might be experiencing financial problems caused by their personal circumstances, unemployment, ill health, bereavement or injury, to get in touch via our website or call our free, confidential helpline on 08000 562 561.feedback

Carsten Brzeski - ING-DiBa

I think that a euro zone finance minister, some reshuffling of European funds to get closer to a euro zone unemployment insurance and further policy harmonization are the most feasible next steps. The real huge steps towards financial burden sharing, tax harmonization and loss of national sovereignty are still highly unlikely to happen, even though they should.feedback

Paul Hollingsworth - Capital Economics

We continue to think that this tightening will deliver a modest rise in nominal wage growth over the course of this year. It might not be enough to keep up with inflation, which we expect to peak at just over 3pc in the fourth quarter. However, as inflation begins to fall back next year as the upward pressures from the drop in the pound start to fade, we think real wages will begin to rise again. As a result, the forthcoming squeeze on real wage growth should be nowhere near as severe or prolonged as that seen after the financial crisis.feedback

Mike Cagney - SoFi

It's the same community concept. For example, one of our members loses their job, we'll put them in unemployment forbearance. We'll actually help them get re-employed. We've done that over 200 times for our members. And it's very different than how a traditional financial services firm would approach banking. The ability to deliver that contextually to people when it matters, as opposed to just spamming them with it all the time, is a big difference-maker.feedback

Mike Signer

Whew! Lot of trolls out tonight. Must be doing something right. Apparently this troll doesn't know about our unemployment rate (2.9%-lowest in Va) and AAA-bond rating. Oh well! Another profile in courage here – anonymous trolls lecturing elected officials about cowardice. Yawn. It's always a difficult balancing act for public officials about how much oxygen to give the alt-right, which depends on publicity to survive. I think for me, it's the right choice to say: 'Enough is enough.feedback

Ben Southwood

Theresa May's decision to copy Ed Miliband's continental-style labour laws risks continental style unemployment and stagnation.feedback

Martin Beck

The prospect of a rise in unemployment and pay growth remaining weak means that the case for the MPC to keep monetary policy on hold for a prolonged period is a strong one. Meanwhile, our expectation that a revival in pay growth is unlikely will be bad news for the public finances and present another challenge for whoever takes the reins of economic policy after the election.feedback

Liam McMahon

Unemployment is very high here. You have third-generation unemployment. That creates a sense of hopelessness. There is real poverty here. There's too many men here out of work. People may not have money, but the community here is fantastic. People are so kind and there is so much warmth. You will have no problem getting people to talk to you about what they think the issues are.feedback

Partha Iyengar

If you look at the unemployment rate in the US for IT, or broadly technology, it's already beyond full employment. And at that level, even (for) the local US companies, the biggest challenge they face is access to skills.feedback

Anton Boerner

Unemployment is low, publics finances are sound, tax revenues are soaring - and countries like France, Italy and Spain also benefit from our success thanks to rising imports of intermediate goods.feedback

Paul Kennedy - Fugro

We're facing headwinds now that we didn't have even a year ago. There's a train wreck coming for some folks. They're not getting tail winds that they used to have – the high unemployment, the money that was associated with enlistment bonuses.feedback

Chris Rupkey - MUFG Union Bank

It's good current inflation came back from last month. That's one factor that makes it more likely we're going to get a June rate hike…With the unemployment rate down below full employment levels, inflation has nowhere to go but up.feedback

Pierre Moscovici - European Union

Having a fiscal capacity, a budget for Europe in order to invest more and to protect from unemployment, having a finance minister for the eurozone. These proposals are made in order to strengthen the eurozone, to reduce divergencies and to have a stronger capacity to create jobs and growth. I know that there will be a strong fight, that there are a lot of stakeholders to be persuaded. It is good news too that the high uncertainty that has characterised the past 12 months may be starting to ease.feedback

Michael Sapin

The majority takes action and I don't' think there's any contradiction between what a right-wing party working with a left-wing president. The elections will be held and it's possible that the right will have a majority. But in any case, we've already experienced cohabitation twice. It didn't stop things working. France has a solid base, and the president can take advantage of that. There isn't enough growth yet or enough job creation to bring down unemployment, but the economy is on a sound footing now. Companies have room for manoeuvre and private investment is more dynamic.feedback

Jonathan Cribb

Carefully set minimum wages can be a useful policy tool for governments seeking to help those on low wages. But at some point, higher minimum wages will reduce the employment of lower skilled workers. Since we do not know where that point is, sudden large increases are risky. They endanger the jobs of those they seek to help. Labour's proposal to rapidly extend a £10 per hour minimum wage to 18-24 year olds, regardless of the state of the economy in 2020, is a particular gamble. Given how harmful periods of unemployment can be for young people, the long term costs could be considerable.feedback

Eric Rosengren - Federal Reserve Bank of Boston

A potential concern would be that with high and rising prices for multifamily commercial real estate, policy makers looking to reform the GSEs might look at the GSEs' large and growing footprint in the market and ask whether this level of government-sponsored exposure is safe, and whether that level of government support is appropriate.feedback

Eric Rosengren - Federal Reserve Bank of Boston

Whether, or how, future reform proposals will impact commercial real estate is unclear–but a potential and significant shock to this sector of the commercial real-estate market could occur if proposals require the GSEs to reduce their holdings of multifamily loans.feedback

Kevin Green

Demand for staff is growing within all sectors and all regions of the UK, but there are fewer and fewer people available to fill the vacancies. We have the lowest unemployment rate since 2005, and people already in work are becoming more hesitant about moving jobs amid Brexit uncertainty. Meanwhile, the weakening pound and lack of clarity about future immigration rules is putting off some EU nationals from taking up roles in the UK.feedback

Kevin Green

We have the lowest unemployment rate since 2005, and people already in work are becoming more hesitant about moving jobs amid Brexit uncertainty. Meanwhile, the weakening pound and lack of clarity about future immigration rules is putting off some EU nationals from taking up roles in the UK. As a result, candidate availability is at a 16-month low and recruiters are flagging a shortage of suitable applicants for more than 60 different roles from cleaner to accountant.feedback

Michael Hewson - CMC Markets

Knowing all of this the new French President may well find that winning was the easy bit. It's all well and good running on a ticket of cutting 120,000 public sector jobs, a 60bn euros cut in public spending and a lowering of the unemployment rate to 7%, it will be another getting it through the French parliament.feedback

Jared Bernstein

Both wage and price growth have become less responsive to low unemployment. Policy needs to catch up with that fact.feedback

Florence Galichet

This is the last throw of the dice, the last time someone from the middle ground will have a chance to fix problems like high unemployment. I hope he'll manage it.feedback

Edward Yardeni

It's not like we desperately need tax cuts to make the U.S. economy work. It's working awfully well, with low unemployment, and earnings are at all-time record highs. What's wrong with that?feedback

Matt Rubel

If consumers haven't had income growth over a long period of time and then you go and move to a border adjustment tax as it's articulated by Congress, it will only move things out of the range of where people can buy them. Adding that to the current environment would actually lead to more unemployment and would lead to a tremendous disruption.feedback

Simon Wolfson

We are in a period of record immigration and we have the lowest levels of unemployment on record since the war. If we are too draconian on immigration, it will have two adverse effects on our economy. The first is it will undermine all of our quality of life and undermine growth, and the second is it will send the worst of all possible signals to the rest of the world. The most important thing to come out of Brexit is sending a very clear message to the rest of the world – that Britain is an open country, a free trading country, one that embraces the rest of the world and does not reject it.feedback

John Williams - Federal Reserve Bank of San Francisco

The risks of us getting to a situation where unemployment is well below a sustainable level for a number of years are growing. An economy that overheats for too long, if we let this go too far, it creates greater risks down the road.feedback

Andrew Hollenhorst - Citigroup Global Markets

In our view, the unambiguous answer is that lower unemployment – which should ultimately drive wage pressure – is the more important takeaway.feedback

James Knightley

The rebound in employment offers support to the Fed's assertion from earlier in the week that the slowdown in activity seen in the first quarter is 'transitory'. This would suggest the FOMC members' forecasts that they will hike rates by 0.25 percentage points on two, possibly three more occasions this year, still holds.feedback

Derek Holt - Scotiabank

The trend has been explosive for the Canadian job market. I personally wouldn't throw in the towel on the outlook for the jobs figure when we've had such a strong trend.feedback

Paul Ferley - Royal Bank of Canada

It's not getting any indication of pressure on the inflation front and they are still concerned about potential trade protectionism emerging in the U.S., so I think they will stay cautious.feedback

Brian Coulton - Fitch Ratings

It's job security that causes people to ask for wage rises. If it's easier for them to get a job outside their company, they're more likely to push for higher wages.feedback

Gus Faucher

With continued solid job growth, the US economic expansion will continue throughout 2017. Job and wage gains are supporting consumer spending, which will remain solid through the rest of the year. After pausing at their early May meeting, the Federal Open Market Committee (FOMC) will raise the federal funds rate again in mid-June as the economy is approaching full employment.feedback

Quincy Krosby - Prudential Financial

The market has sorely needed a shot of unambiguously positive 'hard' data. This morning's employment report suggests the Fed will most certainly move in June.feedback

Gus Faucher

The U.S. job market is in solid shape, with underlying job growth of around 175,000 per month. This is about double underlying labor force growth, and thus labor market slack continues to diminish, pushing up wages… With continued solid job growth, the U.S. economic expansion will continue throughout 2017.feedback

Michael Gapen - Barclays

We had a big rise in [unemployment] claims in those states. The April claims data showed those states had some of the biggest declines.feedback

Eshaq Jahangiri

There's a movement called the reformist movement and you've deprived them of all rights and now you are saying that they shouldn't even have a candidate? I've put myself up as a representative of the reformist movement to speak out … They confined everyone to their houses. They [Ahmadinejad's government] earned $700bn, they took it, they spent it and they left nothing, just unemployment.feedback

Mark Zandi - Moody's Analytics

Job growth slowed in April due to a pullback in construction and retail jobs. The softness in construction is continued payback from outsized growth during the mild winter. Brick-and-mortar retailers cut jobs in response to withering competition from online merchants.feedback

Philip Lowe

Conditions in the housing market continue to vary considerably around the country. Prices have been rising briskly in some markets and declining in others. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Rent increases are the slowest for two decades. Growth in housing debt has outpaced the slow growth in household incomes. The various forward-looking indicators still point to continued growth in employment over the period ahead. The unemployment rate is expected to decline gradually over time.feedback

Philippe Martinez - Confédération Générale du Travail

We believe that everybody should learn the lessons of 2002, of the disappointments, of the unkept promises, of unemployment, of social distress, of austerity policies. How is it that, 15 years later, we are in the same situation?feedback

Jessica Hinds - Capital Economics

That would be the lowest unemployment rate in France since the early 1980s and would be substantially below any current estimate of the structural unemployment rate [of between 8.5pc and 9.5pc].feedback

Alain Dehaze - Adecco

The new technology comes out and business talks to education so the latest robots come out and young people are trained on them – it's self-regulating. Companies are sending young people and paying for training, so they know what they want from it.feedback

Alain Dehaze - Adecco

It's not massive in terms of budget, it's massive in terms of 'social dialogue'. You've got to align interests of business and education, then the government has to incentivise apprenticeships, and then legislate for it. It's not cheap labour, it's about creating a well trained, and educated workforce.feedback

Alain Dehaze - Adecco

Three reasons. There's a tendency for the majority of countries to push students towards university, but where I live, Switzerland, 70pc do apprenticeships. Second, these countries do not stop you learning after an apprenticeship, you have the opportunity to continue to study and go on to university. There is no floor and no ceiling with apprenticeships – you are not blocked – but in a lot of countries there is no possibility to continue to study after an apprenticeship.feedback

Harry Bernas

Thanks to Jean-Luc Mélenchon people have begun thinking there's another way out of this crisis of poverty, unemployment, despair. The real question is how to vote to keep that going. In my mind it will be easier to continue the fight under Macron than Le Pen, who is more dangerous.feedback

Robert Gardner - Nationwide

In some respects, the softening in house price growth is surprising because the unemployment rate is near to a 40-year low, confidence is still relatively high and mortgage rates have fallen to new all-time lows in recent months. While monthly figures can be volatile, the recent softening in price growth may be a further indication that households are starting to react to the emerging squeeze on real incomes or to affordability pressures in key parts of the country.feedback

Ben Fitzsimmons

The onus is on Hume Coal to make good any impacts on groundwater. And through our mine design we've been able to achieve impacts on groundwater that can be mitigated, and no landholder will go without groundwater. Three hundred jobs during operations for a period of up to 20 years, that's a pretty good employment for an area that's experiencing severe unemployment or underemployment.feedback

Mark Zandi - Moody's Analytics

There are a lot of tailwinds behind consumers going into the spring, including low unemployment, better wage growth, high consumer confidence and record stock prices.feedback