Stagnant U.S. Hiring May Signal Renewed Recession

From Bloomberg.com:

The U.S. may be on the cusp of a recession for the first time in more than two years.

Stagnant payrolls in August reported last week added to data over the past month showing the economy is faltering, including slowing manufacturing, plunging consumer confidence, falling home values and lower bond yields and stock prices.

“At this stage of the typical expansion we expect above- average growth and instead we are barely seeing any growth at all,” said James Hamilton, an economics professor at the University of California, San Diego, who has advised Federal Reserve banks and studied what tips the U.S. into downturns. “We have to be more worried. Overall, the economy is in a delicate position and another shock could send us down.”

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Link: http://www.bloomberg.com/news/2011-09-05/stagnant-august-payrolls-in-u-s-add-to-signals-of-renewed-recession-risk.html