Baumohl

"The prospect of a wage-price spiral is much less than the prospect of a sharper slowdown in the economy," said Bernard Baumohl , chief global economist at the Economic Outlook Group in Princeton, N.J.

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Baumohl and some other economists forecast between 2.5 million and 3 million jobs being added to U.S. payrolls in 2011, about triple the gains likely to be recorded in 2010 and what would be the best one-year jump since the white hot labor market of 1999.

Michael Thornton: A Top 10 'Real' Unemployment Report for 2010 and a Peek at 2011 Michael Thornton 2011

Baumohl pointed to one looming factor which explains why, despite a handful of promising signs, companies still won't hire.

U.S. Adds 18,000 Jobs In June As Jobless Rate Climbs To 9.2 Percent 2011

"It's unsustainable," said Bernard Baumohl, chief economist of Economic Outlook Group.

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"Clearly it's a disappointing number," said Bernard Baumohl, chief global economist at The Economic Outlook Group.

U.S. Adds 18,000 Jobs In June As Jobless Rate Climbs To 9.2 Percent 2011

"Companies are focused -- laser focused -- on keeping their costs down," Baumohl added.

U.S. Adds 18,000 Jobs In June As Jobless Rate Climbs To 9.2 Percent 2011

"Whats starting to bubble up to the surface here is this major clash between Saudi Arabia and Iran," said Bernard Baumohl, the chief global economist at the Economic Outlook Group.

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"We are very gradually moving to a labor-less society," said Bernard Baumohl, chief global economist at The Economic Outlook Group.

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"The new home-sales market will continue to be depressed" for at least another year, said Bernard Baumohl , chief global economist with the Economic Outlook Group.

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AP Photo/Seth Wenig "It is pretty grim out there," said Bernard Baumohl, chief global economist with the Economic Outlook Group, a research firm.

Indicators Signal Recovery's Fragility Ben Casselman 2011