delta Continental Us Payrolls Point To Recovery Speedbump

Sources close to investment boutique, Delta Continental

, are convinced that another poor US non-farm payrolls report for the month of June will bring with it increased clamor for further stimulus from the government.

The firm said, however, that the precarious and volatile nature of the international debt markets would make it difficult for the US administration to raise funds at reasonable rates at a time when other sovereign states, most notably those within the European Union, were busily announcing austerity measures aimed at reducing their fiscal deficits.

A Delta Continental analyst said that although the United States has the worlds reserve currency, it could not risk abusing the flexibility that such status affords it by continuing to borrow recklessly.

The May non-farm payrolls report painted a disappointing picture of the nature of the employment situation in the US. Out of 431,000 new jobs added, 411,000 were temporary hires by the government to conduct the 2010 census. Delta Continental said that the growing pressure on the government to create jobs was illogical.

One of the firms analysts said that governments could not be expected to create jobs in excess of what they needed to function efficiently. He added that it was private companies that created the majority of jobs and that it was the governments role to make the environment conducive for said companies to hire.

Delta Continental said that the jobs report confirmed that the V-shaped recovery hoped for by many economists was becoming more unlikely with every round of economic data.

by: William Howlett

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