The integrity of U.S. data on joblessness, one of the main measures of the strength of the economy, is at risk the longer some government agencies remain closed, according to former Labor Department officials.
Dean Maki, chief U.S. economist at Barclays PLC, and Neil Dutta, chief economist at Renaissance Macro Research LLC, say the view of a recovering U.S. labor market supported by the June employment report supports signals from the Federal Reserve that it will start tapering off on its bond purchase program in September and finish tapering by the middle of 2014. Maki and Dutta talk with Bloomberg's Kathleen Hays and Vonnie Quinn on Bloomberg Radio's "The Hays Advantage."
In 1980, the U.S. economy was in the middle of a severe downturn, and jobs weren’t easy to find. So Lou Crandall , after earning a bachelor’s degree with a focus on economics from Cornell University, scattered resumes far and wide. One went to an employment agency looking for bilingual workers. Crandall had spent five years of his boyhood in Italy, where his father taught in an American school, and was fluent in Italian, Bloomberg Markets magazine reports in its January issue.