March Employment Report: ‘This is About Austerity,’ the man says

Really? Here’s a Bloomberg.com report from yesterday on the US government’s report on March employment — and one man’s opinion:

“Most American companies are still lean and mean,” said Ethan Harris, co-head of global economics research at Bank of America Corp. in New York. “They’ve been very disciplined about controlling their workforce, their spending and investment. This is really a story about the fiscal austerity hitting an otherwise improving economy and delaying what should be an improvement in growth.”

Semantic help from EleBlog:

Translation of that guy’s words: “I have no idea what the F is going on here. These companies wouldn’t be ‘austere’ is they saw opportunity — so it must mean they see no opportunity. Which would mean the Conventional Wisdom of where the economy is must be 180 degrees out-of-kilter.”

Source: http://electricalcontractor.com/?p=9103

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