Financial 411: Jobs and the Threat of a Double-Dip
Monday, May 30, 2011
Wall Street Journal reporter Kelly Evans said this week's monthly jobs report will reveal data on unemployment rates, the housing market and other key points that could lead to some speculation about the possibility of a double-dip recession.
Evans said the market expects unemployment to slip from 9 percent to 8.9, but that other kinds of data could lead to a flurry of media coverage wondering about the dreaded double-dip.
"We've been on a losing streak with the stock market, there's been some disappointment lately," she said. "If data improves this week, I think we'll start to hear the end of it. If not, if they show that the economy doesn't have as much momentum as hoped, I think you will start to hear more people worried about the pace of the recovery."
Also this week, automakers are set to release their monthly sales records. Evans said that by historical standards, the numbers coming out of the auto industry are comparable to the late '70s and early '80s, when the economy was much smaller.
In a continuation of WNYC's series, New York Works, Tracey Samuelson looks into the precise work of piano tuner Ismael Cunha, who is in charge of some of the city's most prestigious pianos.