Widespread hiring at U.S. companies has not begun as businesses remain worried about uncertainty over the future of the economy, Macroeconomic Advisers LLC chairman Joel Prakken said on Wednesday.
Prakken was speaking to a teleconference of journalists after the ADP Employer Services report on private sector employment, which his firm jointly developed. The report showed private employers unexpectedly cut 10,000 jobs last month.
"Summer of Recovery", my astrolabe!
"Summer of ever-worsening misery" is a more apt description of what many Americans are experiencing right now, and will be experiencing for the foreseeable future.