213,000 JOBS BACK TO YOU.
DAGEN: EDWARD THANK YOU FOR
THAT REPORT IN WASHINGTON FOR
US THIS WAS A MUCH
BETTER-THAN-EXPECTED NUMBER,
ON THE OVERALL JOB CREATION,
BUT IT WATCH MARKETS THE
MARKETS ARE OFF THEIR LOWS DOW
FUTURES ONLY DOWN 13 POINTS,
RIGHT NOW JON HILSENRATH, WHY
IS THAT?
213,000 JOBS THIS REPORT NOT
INFLATIONARY, SO THIS IS THIS
IS A -- A THIS IS A GOLDILOCKS
REPORT IF YOU WILL.
REPORTER: RIGHT, IT IS EXACTLY
WHAT WE WERE TALKING ABOUT
RIGHT BEFORE THESE NUMBERS
CAME OUT, WE SAW A LOT OF
PEOPLE POURING BACK INTO THE
THOSE PEOPLE COMING BACK INTO
THE LABOR FORCE STILL LOOKING
FOR JOBS THAT LISTS THE
UNEMPLOYMENT RATE TO 4% NOT A
CAUSE FOR ALARM 4%
UNEMPLOYMENT RATE
EXCEPTIONALLY LOW, 200,000
GROWTH OF 200,000 JOBS, FOR
THE MONTH IS AGAIN,
EXCEPTIONAL GROWTH A PICKUP
FROM LAST YEAR, SO IT IS A
GOOD REPORT THE ECONOMY ON
SOLID FOOTING.
DAGEN: LISA WITH 213,000 JOBS
ADDED LAST MONTH THAT IS GOING
INTO THIS REPORT, THE AVERAGE,
SO FAR THIS YEAR, WITH 207,
THIS NUMBER CAME IN, EVEN
ABOVE THE AVERAGE IN 2018.
ANOTHER THING TO POINT OUT JON
SAW THIS UNEMPLOYMENT RATE
TICK UP IS BECAUSE 601,000
PEOPLE CAME BACK INTO THE
LABOR FORCE, THAT IS A HUGE
INDICATOR OF OPTIMISM.
>> WE THINK A NICE IMPACT
OVERALL IN MARKETS AGAIN AS
YOU WELL PUT IT, IT IS A
GOLDILOCKS REPORT WE ARE STILL
CONTINUING TO GET NICE HIRING
WE ARE SEEING THOSE PAYROLL
GOALS COME IN HIGHER, GAINS
HIGHER THAN WE EXPECT, BUT YET
YOU ARE NOT SEEING HUGE
PRESSURES ON INFLATION WHILE
YEAR-OVER-YEAR AT THAT 2.7%
AGAIN I WOULD AGREE WITH JON
NICE INCREASE IN THE LABOR
FORCE A PARTICIPATION IS VERY
ENCOURAGING, EXPANDS THE
CAPACITY AVAILABLE, OF
WORKERS, AND INDICATING THAT
PEOPLE ARE CONTINUING TO BE
MORE OPTIMISTIC ABOUT THEIR
PRESIDENT TRUMP YET ONE NUMBER
JUMPED OUT AT ME IS THE SECTOR
BY SECTOR GROWTH, THAT WE HAD
CONSTRUCTION PAYROLLS UP BY
13,000.
SO AGAIN, THIS IS SPREAD FAR
AND WIDE WE DID HAVE A LOSS IN
RETAIL OF 22000, BUT MOST OF
THESE INDUSTRIES WILL BRIGHT
SPOTS.
REPORTER: A FACT OF REPORT.
>> EXCUSE ME, IRONICALLY AS
YOU POINTING OUT THE FACT THE
HEADLINE NUMBER TOOIBZ TO UP
4% BECAUSE LABOR PARTICIPATION
RATE INCREASES PERHAPS THAT IS
ONE OF THE REASONS THE
PRESIDENTIAL DIDN'T TWEET
ABOUT IT IN HIGHER LABELING
PARTICIPATION HIGHER JOBS
NUMBER IN THIS CASE A GOOD
THING THIS IS A -- REPORT YOU
HAVE SEEN UNTIL THE MARKET
LOWER BEFORE NUMBERS OUT
TURNED HIGHER INTERESTING TO
THE BOND MARKET FALL, A
SIGNIFICANTLY, AT ALL MEANING
THERE IS NO, NO EXPECTATION
FOR INFLATION ANY ONLY
QUESTION MOVING FORWARD A LOT
OF ECONOMISTS POSIT GREAT DID
HEO EGRESSION WAS MILD
RECESSION BEFORE SMOOT-HAWLEY
CAME ON ALL EYES ON TARIFFS
EVERY WON FROM BIG
BUSINESSPEOPLE TO SMALL ARE
WORRIED ABOUT THE POTENTIAL
IMPACT INCLUDING INFLATIONARY
ON THEIR BUSINESS, SO THE JOB
NUMBER WE KNOW IS GOOD, WHAT
IS GOING TO BE THE IMPACT OF
THE TARIFF WAR?
AT LEAST ACCORDING TO THE
PRESIDENT'S WORDS STARTS TODAY
IS OUT THE NUMBER IS GOOD.
DAGEN: STEVE FORBES MARKETS
ARE LOOKING AT THIS NUMBER,
RIGHT NOW, AND YOU SEE, THE
FUTURES TURNING AROUND 24
POINTED GAIN ON DOW FUTURES,
WHAT ARE YOU LOOKING AT IN IN
THIS REPORT THIS IS A LOT OF
IT SHOWS THE ECONOMY IS GOING
IN THE RIGHT DIRECTION IF WE
DON'T GET A FULL-SCALE TRADE
WAR, GOING TO BE A REAL BOOM
FOR THIS ECONOMY, YOU WILL SEE
THE STOCK MARKET GO UP SEVERAL
THOUSAND POINTS IF WE GET THAT
CLOUD OUT OF THE WAY.
BUT THAT IS A CLOUD OVER
THERE.
AND WE HAVE TO REMEMBER,
TARIFFS ARE SALES TAXES THE
HOUSEHOLD SURVEYS ANOTHER
THING TO LOOK AT IN THIS JOBS'
REPORT DIDN'T GO UP THAT MUCH
SMALL BUSINESSES THEY ARE
IMPROVING, BUT I THINK THERE
IS STILL A LOT OF UNCERTAINTY
OUT THERE I.E., A LOT OF ROOM
TO GROW.
>> WHAT JFRPD OUT IN THIS
REPORT YOU TO.
>> TO ME PERFECT GOLDILOCKS
REPORT ALSO MOANS FED IS GOING
ECONOMY IN U.S.R WINNING OUT
OVER TRADE WARS POTENTIAL
GEOPOLITICAL CONCERNS.
>> CHRISTINA THAT IS A
ARGUMENT YOU HEAR FAR AND WIDE
WHY DO WE TAKE ON TRADE
ABUSES, NOW, BECAUSE THE
ECONOMY IS STRONG ENOUGH TO DO
THAT?
THIS JOBS' REPORT CERTAINLY
REAFRIRMZ -- REAFIRMS THAT
GOES WITH WHAT PRESIDENT TRUMP
SAID STRONG ECONOMY CAN HOLD
IT WILL IT LAST LONG TERM WE
DON'T KNOW RIGHT NOW THIS IS A
TIME THE YU STRAIGHTS PUTS ITS
BIG FOOT FORWARD AND SAYS WE
ARE NOT GOING TO BE TAKEN
VANNING OF LABOR PARTICIPATION
WAS A GOOD CONCERNS
FORKED JUNE MUCH HIGHER THAN
MONTH OF MAY ALL GOOD SIGNS.
>> JON HILSENRATH IS THERE
ANYTHING WITHIN THIS REPORT AS
YOU DUG INTO NUMBERS THAT IS
WORRISOME?
BECAUSE, AGAIN, THE REASON
THAT THE UNEMPLOYMENT RATE
WENT UP 2/10 OF A PERCENT
600,000 PEOPLE BACK INTO LABOR
FORCE WITH THAT LABOR FORCE
PARTICIPATION RIGHT STILL
ANNOYINGLY BELOW 63%, BUT
NEVERTHELESS IT IS PICKING UP,
SO REGARDLESS HOW YOU READ
THAT AND THEN MUTED WAGE GAINS
GREETS IN TERMS OF FEDERAL
RESERVE IS THERE ANYTHING HERE
YOU FIND TROUBLING?
>> WELL, I MEAN THE THING I
FIND TROUBLING IS JUST THE
RISK THAT AT THIS POINT IN THE
CYCLE THE ECONOMY COULD
OVERHEAT YOU KNOW 213,000
PAYROLL INCREASES REALLY GOOD
AND FEELS GOOD, BUT THIS IS
THE POINT IN A BUSINESS CYCLE
WHEN INVESTORS START MAKING
MISTAKES, BUSINESSES STARTED
MAKING MISTAKES, AND IT FEELS
GOOD RIGHT NOW BUT WHERE ARE
WE GOING TO BE A YEAR OR TWO
YEARS DOWN THE ROAD.
YOU KNOW, THIS ECONOMY IF IT
DAGEN: I HEAR YOU --
>> TO ADD TO MR. JON
HILSENRATH.
>> BUSINESS MAKE MISTAKES AS
WELL ONE OF THEM WOULD BE
TARIFFS -- JUST THIS MORNING
ESTIMATING A TRADE WAR COULD
THAT IS TWO TRILLION DOLLARS,
I DON'T KNOW HOW ONE CAN MAKE
THAT SUGGESTION HAVE ANY TYPE
OF BENEFICIAL IMPACT ON THE
U.S. ECONOMY.
DAGEN: I HAVE BEEN VERY
CONCERNED ABOUT TARIFFS AND
TRADE FIGHTS WITH A WIDE RANGE
OF OTHER COUNTRIES, BUT LISA,
THIS MARKET FOR THE MOST PART
BECAUSE, AGAIN, YOU SEE THIS
BOUNCEBACK IN FUTURES THIS
MORNING, THIS IS WHEN THE --
WE ARE WATCHING JUST TO BE
CRYSTAL-CLEAR WE ARE WATCHING
FUTURES HIGHER, WHEN WE HAVE
GOT -- THIS IS THE BEGINNING
OF A TARIFF FIGHT WITH CHINA
THAT STARTED TO DATE LISA.
>> GRANTED TO THE
ADMINISTRATION'S POINT WE'VE
GOT GOOD GROWTH NUMBERS WE'VE
I THINK OUR VIEW IS REALLY THE
RISK OVERALL AND THE REWARDS
ARE BALANCE THE POSITIVE
TOP-DOWN DATA INCLUDING JOBS'
REPORT TODAY, YOU'VE GOT VERY
RISKS THAT COULD POTENTIALLY
DISRUPT THE GROWTH INFLATION
TICKING UP MODERATE LEVELS WE
NEED TO KEEP EYES ON THAT,
AGAIN IN OUR VIEW, ANY KIND OF
-- TARIFF OR TRADE WAR THAT