UBS On-Air: Paul Donovan Daily Audio 'Labor gains offset fiscal pains'




UBS On-Air show

Summary: US initial jobless claims fell again last week. The labor market in the US (and elsewhere) has been improving faster than traditional models predict -- such models are not designed to deal with a policy-led downturn and recovery. The improvement is welcome because it helps to offset the failure to extend fiscal support in the form of higher unemployment benefit.