The employment sector is looking like it's stabilizing. It will probably bottom out at 6.0 percent in the next few months.
We're looking for increases in employment, but because the labor force is growing 1 percent a year, we need 125,000 new jobs per month to stabilize the unemployment rate. We see the unemployment rate drifting slightly higher and lingering higher for the next year.
Looking forward, the factors are in place for economy to rebound, ... Capital spending will stay in negative territory for a while, but I expect consumer spending to turn by the end of the year.