Chad Stone, Chief Economist, on July Jobs Report

Today’s disappointing employment report lends greater urgency to lawmakers’ efforts to craft a second round of effective economic stimulus legislation that Congress can enact quickly when it returns in September.  Consumer spending supported by the stimulus payments that Congress enacted earlier this year has kept the economy from being even weaker than it is.  But those effects won’t last, and nothing in the latest data suggests the economy is on the verge of a spontaneous rebound." 
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