Bill Gross: U.S. Jobs Gains Not Enough for Growth

Bloomberg reports:

Pacific Investment Management Co.’s Bill Gross said job gains in September aren’t enough to sustain growth in the U.S. economy and that neither political party understands what’s needed to boost employment.

The economy needs 200,000 to 250,000 new jobs per month to expand, Gross, manager of the world’s biggest bond fund, said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt. Global investors like Mitt Romney better than any other U.S. presidential candidate, while remaining cool to the Republican field in general, according to a Bloomberg poll.

“I don’t think Barack Obama has been very good for the economy and I don’t think Mitt Romney would be either; neither camp recognized the problem in terms of job creation,” Gross said. “We need to, yes, to have currency revaluations, which the Republicans are opposing. We need in some cases penalties, tariffs where applicable. We need a buy-American, produce- America type of policy in order to create jobs.”

The establishment going protectionist?