The evidence so far would suggest we're probably going to have a below-average employment gain in this recovery.

If you're going to set a price below market price, you're going to have to have some sort of rationing. I don't care if it's gasoline, prescription drugs or rent control in New York City.

That is about average for a recovery. It's above the recovery we saw in the early '90s, but significantly below the recovery we saw in the early '80s. So it's a very sort of plausible forecast.

I think clearly the retail employment number is goofy. I think when that number is revised and we look back several months, we'll eventually see a gain.

The economic recovery has legs -- those of a pony, not yet a quarter horse.

April and May are going to be very critical around here. If we continue to see below-average rainfall, things could get ugly.