HERE AS UNEMPLOYMENT AGAIN
TICKED DOWN TO 3.9%.
MARIA: THANK YOU SO MUCH, IT
IS LOOKING LIKE BELOW
EXPECTATIONS, CHARLES 157,000
JOBS CREATED IN JULY VERSUS
ESTIMATE 190,000 REACTION.
>> GOLDILOCKS WITH A SMALL G,
PRIVATE SECTOR, 170,000 NEAR
OVERALL ESTIMATE, I WOULD LIKE
TO GET THERE WE GOT
PARTICIPATION RATE I WOULD
LIKE TO KNOW ACTUALLY LABOR
FORCE THE AMOUNT OF PEOPLE WHO
CAME IN WORKFORCE.
>> MARKETS TRADED DOWN.
>> A LITTLE BIT LOWER ON THIS
NUMBER, I THOUGHT WAS GOING TO
BE OVER 200,000 FROM
EVERYTHING ELSE FROM PMI
NUMBERS TO SOME OTHER NUMBERS
WE'VE SEEN, SO IT IS SOMETHING
SLIGHT DISAPPOINTMENT, BUT
170,000 PRIVATE SECTOR NOT TOO
BAD AGAIN I AM ALWAYS MORE
INTERESTED IN HOW MANY PEOPLE
ARE COMING BACK INTO THE LABOR
FORCE MORE THAN ANYTHING ELSE.
>> BREAK IT DOWN YOUR THOUGHTS
ON THIS NUMBER?
>> YEAH, I IT IS I EXPECTED
THINK HOURLY EARNINGS 0.1
REVISED LOWER LAST NIGHT 0.3
THIS MONTH, SO ALL IN ALL, I
THINK THIN LINE, I THINK WE
ARE GOING TO WAIT FOR 10:00CY
WHAT ISM, NONMANUFACTURING IS
GOING TO BE BULLS IN CHARGE, I
THINK LAST NIGHT, JAPAN
OVERTOOK CHINA AS BIGGEST
SECOND LARGEST STOCK MARKET IN
THE WORLD BIG NEWS WE HAVE IN
COUNTRY HURTING RIGHT NOW
COMING ON STRONG, THAT IS
GOING TO HELP GLOBAL ECONOMY.
>> HIRING DEFINITELY COOLED IN
JULY BUT LOOKS LIKE A SOLID
AVERAGE HOURLY EARNINGS IN
LINE WITH EXPECTATIONS, GOING
INTO THIS REPORT.
THAT WE HAD 96% CHANCE
PROBABILITY PIPED IN FOR RATE
HIKE AT SEPTEMBER FEDERAL
RESERVE MEETING SO THIS KEEPS
-- AND EXPECTATION IN CHECK IN
GOOD NEWS.
WITH THIS 157,000 JOBS CREATED
IN THE MOST RECENT MONTH, THAT
THIS THAT NUMBER IS BELOW THE
THREE-MONTH AVERAGE, IT IS
BELOW THE FIRST HALF OF
THE-YEAR AVERAGE, ALSO BELOW
THE AVERAGE OF THE LAST 12
MONTHS, THAT IS WHY I WOULD
POINT TO THIS 157,000, BEING A
DISAPPOINTMENT, BECAUSE IT IS
SO IT IS NOTABLY LOWER THAN
THE AVERAGE THAT WE'VE SEEN IN
LAST YEAR, AND EARLIER LET ME
JUST FINISH EARLIER IN THE
YEAR WE SAW THIS ECONOMY BE
ABLE TO PICK UP JOBS GROWTH TO
GAIN STEAM THAT IS WHY I WOULD
SEE THIS SLIGHT
DISAPPOINTMENT.
>> I AGREE WHO IS JUMPING IN.
>> HISTORICALLY, THE MONTH OF
-- OBVIOUSLY.
>> JULY.
>> JULY, IS NORMALLY A LITTLE
BIT LOWER, FOR A COUPLE
DIFFERENT REASONS SO
SEASONALLY WAS EXPECTED TO BE
A LITTLE BIT LIGHTER THAN THE
NUMBERS THAT IS WHY YOU SEE
MARKETS NOT REACTING TOO MUCH
>> FIRST --
>> JONATHAN QUICKLY, GIVEN THE
ALLUDED TO ONE AREA FOR
AVERAGE WORKER THEY HAVEN'T
SEEN COME WITH STOCK MARKET
WITH THE ECONOMY SO I WOULD
HAVE EXPECTED HIGHER WAGES IN
LOOKING FORWARDS THAT IS THE
LAST SHOE DROP.
>> WONDER IF THIS IS SEASONAL
LIKE JOHN SAID JULY, MIDDLE OF
THE SUMMER, WE DON'T KNOW
MARKETS HAVE TURNED AROUND
HERE WE ARE LOOKING AT A
NEGATIVE PERFORMANCE, PLEASEA
BUT WHEN YOU LOOK AT SERVICES,
PART OF THIS ECONOMY 118,000
JOBS CREATED IN SERVICES,
CONSTRUCTION UP 19,000
MANUFACTURING -- SOMETHING
PRESIDENT TOUTED UP 37,000
LESIONA HOSPITALITY UP 40,000
ABOUT REASONABLY NUMBERS
OVERALL WEAKER THAN EXPECTED
LISA.
>> YEAH, ABSOLUTELY, AND WHILE
THE NUMBERS ARE LOWER THAN
CONSENSUS WE WANT TO LOOK AT
WEIGHT OF THE EVIDENCE HERE
AGAIN, IF YOU LOOK AT SOME OF
THE UNDERGO NUMBERS AGAIN FROM
SOLID RESULTS YOU'VE GOT
REALLY THE FACT THAT INFLATION
NUMBERS ARE COMING IN
MODERATELY IN TERMS OF OVERALL
IMPLICATIONS FOR THE ECONOMY
CONTINUING TO SEE NICE GAINS
OVERALL, ON PAYROLLS YOU ARE
STILL SEEING, WAGE GROWTH
MODERATE AND YET HIGHER THAN
IT WAS, YOU KNOW OVER THE LAST
YEAR SO REALLY, OVERALL AGAIN,
A NICE STATUS QUO REPORT.
>> IF YOU YOU THINK THE
FEDERAL RESERVE IS WATCHING
THIS CLOSELY THIS IS GOOD
NEWS, RIGHT?
BECAUSE YOU DON'T WANT FEDERAL
RESERVE TO BE RAISING INTEREST
RATES ALL THAT MUCH MAY BE
MORED GOLOCKS ECONOMY JOHNNY
HOW DO YOU SEE IT WHAT DO YOU
PULL OUT THIS HAVE.
>> OVERALL THE HEADLINED
NUMBER IS NOT GOOD I DO WANT
REALLY GREAT THINGS IN THIS
REPORT TO SEE 37,000 JOBS, IN
MANUFACTURING, IS OUTSTANDING.
I MEAN FOR YEARS WE WERE
LOSING JOBS, IN MANUFACTURING
AND CONSTRUCTION, SO THERE ARE
SOME REALLY GREAT YOU KNOW,
OF THE REASON WE'RE NOT SEEING
A STRONGER HEADLINE NUMBER
BECAUSE WE HAVE 6.6 MILLION
JOBS OPENINGS, WE HAVE 6.5 OR
6.6 MILLION UNEMPLOYED PEOPLE
STILL VERY DIFFICULT TIME
EMPLOYERS IN SUCH A TIGHT
MARKET RIGHT NOW, THAT THE JOB
TO MEET YOU KNOW THE DEMAND
THERE I THINK THAT IS A BIG
DEMAND YOU WOULD AND A NUMBER
NORTH OF 200,000.
MARIA: JACK.
>> THE UP AWARED ROIGS NUMBERS
59,000 FROM LAST MONTH A BIG
NUMBER SO WE HAVE TO REMEMBER
INDUSTRY HAVING TROUBLE
FINDING WORKERS TO SEE 19,000
JOBS ADDED A SURPRISE.
>> WHY TROUBLE FINDING WORKERS
IN CONSTRUCTION.
>> BECAUSE, JUST NOT ENOUGH
SKILLED WORKERS.
>> I WONDERED IF DEMAND ISSUE.
>> A HARD JOB, REALLY TERRIFIC
>> IT DOES BACKLOG ON EB5
PROGRAM AS WELCOME A LOT OF
COMPANIES RIGHT NOW TRYING TO
TIME.
>> DURING GREAT RECESSION ONE
OF THE THINGS CONSTRUCTION,
SOME MANUFACTURING JOBS,
ALWAYS DONE ON PRINCES SHIP,
200,000 SHORT OLDER WELDERS
DIDN'T HAVE A JOB CONTINUE
TRAIN YOUNGER WELDERS SAME
NUMBER I THINK EVERYONE HIT
GOOD POINTS REVISION 59,000 IS
POSITIVE, MANUFACTURING REALLY
STORY HERE U6 REAL
UNEMPLOYMENT NUMBER GOING DOWN
THIS MONTH'S FROM 7.8 TO 7.5
ANOTHER MAJOR, MAJOR HIGHLIGHT
SESSION IS OVER I WOULDN'T BE
SURPRISED IF WE RALLY AROUND
THIS NUMBER PUTS FED AT BAY.