Bernanke: Job market remains weak despite gains

[Javaman]

http://finance.yahoo.com/news/bernanke-job-market-remains-weak-233154507.html;_ylt=AqYowhPTUXg6WNCfqY_nDyOiuYdG;_ylu=X3oDMTQ0M3RrczE2BG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDOGU5MTU4MjItY2M2ZS0zOWZkLWJkMmQtYjdiZWU0MGQyNjBmBHBvcwMyBHNlYwN0b3Bfc3RvcnkEdmVyAzE3MjhhYWMwLTUxZTQtMTFlMS1iYTdkLWNjYzIxNDQzOGMwYg--;_ylg=X3oDMTFvdnRqYzJoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

WASHINGTON (AP) -- Ben Bernanke says the U.S. job market isn't as strong as the steadily declining unemployment rate might suggest.

Responding to questions at a Senate hearing Tuesday, he noted that the unemployment rate doesn't capture the plight of millions of Americans who have stopped looking for work or part-timers who can't find full-time jobs.

His cautious view helps explain why the Federal Reserve plans to hold interest rates at record lows until late 2014. Many economists were looking to see if Bernanke might waver on that stance after Friday's news that hiring surged in January and the unemployment rate to a three-year low of 8.3 percent.

The Fed chairman stuck with the three-year time line.

more at link...

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After this halfwits comment yesterday about not rolling back george w. morons* tax cuts for the rich, I don't believe a word he says.

[DCKit]

1. Wow. Is it any wonder he's still working in economics? The guy is brilliant.

And I couldn't agree more with you comments about the 1% tax cuts. Dude was talking out of both sides of his mouth and his ass at the same time.

[CAPHAVOC]

3. Weak here...Gains in China...Phooey!

[marmar]

4. You don't say.....