We went into recession in March [2001], and in April we had our first decline in payrolls. Firms responded really quickly to the downturn, and we don't see any reason why they won't respond quickly to the upturn as well.

106

While the latest retail sales reading is disappointing, the picture of a solid consumer remains, with positive growth in the first quarter, despite the boom in fourth-quarter spending.

87

The three-month index is strongly correlated with year-on-year employment growth.

77