Pork, but no Stim.
In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years -- but a majority of respondents felt the fiscal stimulus had no impact.
...That sentiment is shared for the recently passed $17.7 billion jobs bill that calls for tax breaks for businesses that hire and additional infrastructure spending. More than two-thirds of those polled believe the measure won't affect payrolls, while 30% expect it to boost hiring "moderately."
Those polled did NOT work in State or Local gummints, nor in the Fiefdom of Education.
This evidence is anecdotal.
ReplyDeleteEven so. They add this:
"But the economists see conditions improving. More than half of respondents -- 57% -- say industrial demand is rising, while just 6% see it declining. A growing number also said their firms are increasing spending and profit margins are widening."
I believe your blog post a couple of weeks ago concluded that the majority of this growth in demand was via government spending of some form.
You're contradicting yourself.
Not really.
ReplyDeleteProfitability doesn't mean that sales are growing.
And you simply ascribe the growth to Porkulus. These guys don't.
"More than half of respondents -- 57% -- say industrial demand is rising"
ReplyDeleteThey are, in fact, assuming that sales are growing.
"And you simply ascribe the growth to Porkulus. These guys don't."
Based on what they see at their place of employement. It's anecdotal evidence and a very limited view of a larger issue. I'm sure many of these guys aren't directly receiving ARRA funds.
many of these guys aren't directly receiving ARRA funds
ReplyDeleteCorrect. they are NOT public employees.
as to "rising demand", well, maybe. Both ECRI and ISM indexes are positive, but ECRI is not signaling a "V". MOre like a check-mark with a VERY low angle of ascent.