after an encouraging start to the year, job creation has again hit a soft patch" writes Mohamed El-Erian, Pimco chief executive.
How is this a surprise? I am not an economist, but I firmly believe this is related to gas prices. When gas goes up economic activity slows. Last month gas prices were very high (and still are on the west coast). Unfortunately the US refuses every idea that may lower gas prices other than "green" energy. Since that is actually more expensive anyway we just make things worse by following that pipe dream.
source This article is behind a paywall so you will have to be satisfied with the excerpt and my unfounded assumptions about what it says.
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