Tags: Maki | Job | Growth | Healthy

Maki: U.S. Job Growth to Increase at Healthy Pace

Thursday, 11 Mar 2010 09:17 AM

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The United States is set for job growth that will increase at a “healthy pace,” said Dean Maki, chief U.S. economist at Barclays Capital.

He said the economy is demonstrating growth in the manufacturing and service sectors compared to previous months.

Maki told Bloomberg TV that such a trend suggests that the “economy remains healthy.”

The Institute for Supply Management reported that its non-manufacturing index rose to 53% in February, compared to 50.5% in January.

This news shows that “activity” is “improving dramatically,” said Maki.

After March, Maki predicts that the United States will generate larger numbers of jobs at a “healthy pace.”

He does not believe the United States will experience a double dip recession in 2010. Maki believes that the Federal Reserve will start to raise interest rates later in the year.

The housing market will also “pick up” during 2010, although it will not be a “healthy growth by any means,” he said.

"The U.S. economy is recovering ... in fits and starts," wrote Jennifer Lee, senior economist for BMO Capital Markets, MarketWatch reported.

The results produced from the ISM report show a "sluggish but positive growth path," wrote Mike Englund, chief economist for Action Economics.

Other economists are waiting for more data before making predicting a positive outlook for 2010.

"Although the bulls will see this as a broadening out of the recovery, I am still focused on the jobs data due out on later this week," wrote Steven Ricchiuto, chief economist for Mizuho Securities USA.

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