edward lawrence he's got the number
right now edward yeah the economy added
back
49 000 jobs the unemployment rate ticked
down
by 0.4 percent to 3 6.3
in january of 2021 if you go a little
bit into the establishment survey
uh you have 14.8 million persons
reported that they had been and unable
to work
because their employer closed or lost
business the
personal business and services personal
and professional
business services rose by 97 000 jobs
uh the generate the unemployment
increase in local government education
49 000 jobs wholesale trade added to the
jobs and generating
14 000 jobs mining increased 9 000
jobs in january of 2021 leisure and
hospitality
declined by only 61 000 jobs following
the steep decline
in december uh so that's leisure and
hospitality in february saying
it's down 3.9 million uh since february
of last year that's 22.9 also
retail trade lost 38 000 jobs in january
after
adding 135 000 jobs in december
and healthcare when mentioned there
declined 30 000 jobs
in january within the industry the
unemployment transportation and
warehousing also
seeing a decline of 28 000 jobs
in january manufacturing changed very
little
over the month but they did lose 10 000
jobs uh following
eight months of job growth so the bottom
line here the economy added back jobs
the unemployment rate went back down
to 6.3 percent maria
all right well better unemployment rate
for sure digging mcdowell but the number
of jobs created pretty much in line with
this weak
forecast where we really did see a
slowdown in january from the very strong
pace that we had seen
for several months which was back up at
that 200 thousand
pace not so in january hourly earnings
up two tenths of a percent also
very fractional move there digging i
just want to bring you the revisions
that the december payrolls originally it
was a loss of a hundred and forty
000 jobs that was revised to a loss of
227
000. november was revised to a
to the plus side 264 thousand so
many more jobs lost in december than
originally reported uh the thing about
the this jobs report and it's still
in terms of the job growth that's still
lackluster
and the wall street journal has written
about this but
in december there was employment growth
employment increase in 15 states that
the losses that we saw in december were
purely from states liberal states
that were locked down and so that that's
how do we get out of this you have to
begin reopening
more and more people every day are being
vaccinated that's the future
and i repeat what bob nardelli said on
this program
small business managers do not want ppp
they want gdp they want to see an
economy open
and an opportunity to go back selling
their widgets
and doing business so that they can
actually have real growth
and not growth manufactured from
government money
steve dudash what is this number going
to mean for markets we're still looking
at a gain in the
in the markets but we are certainly off
of the best levels of the morning your
reaction
6.3 unemployment is pretty pretty good
you know we're looking at
and historically that's a reasonably low
number
considering what's going on it's a very
low number so i i agree with steve what
he was saying before
our economy's starting to pick back up
unemployment is going down
we're getting into a better place
vaccines are rolling out one and a half
million
a day now i think it's somewhere in that
range and with johnson johnson just
getting approved or getting approved in
the next day or two
it's going to be even higher so do we
really need to pump a bunch more cash
into the economy i know there's certain
segments certainly the leisure
that needs more help i get it i'm not
against maybe specialized stuff
but the broad-based things that are
going out there we can't just keep
giving money away to everything
we needed to do this in march of last
year completely agree
but our economy we know what we're
dealing with now we know what the virus
is we know how to
work with it for the most part let the
economy just grow
stay out of it let the government get
out of the way because sooner or later
we're the ones going to have to pay this
bill someone else has to pay
for all this free money we keep printing
it's who's going to step up on either
side of the aisle
someone needs to step up and be
realistic now and be like come on guys
we can't just keep giving away the farm
here let
businesses do their thing and grow and
get out of the way for a little while
be realistic about it we're the worst
run business in the world right now
get out of the way yeah and tell tell
the tell the teachers union that
james freeman because they keep getting
hundreds of millions of dollars
billions of dollars and they still won't
go back to work
at some point people are going to
recognize that this is
five trillion dollars in stimulus at
this point
uh in a year five trillion in a year
james
yeah and you reopen those schools you
allow uh people to rejoin the workforce
uh
the really the only drag right now are
those reimpositions of lockdowns
uh that excuse uh i think is gone but
it's going to
disappear for everybody very soon covet
hospitalizations
peaked about two weeks before
inauguration day the vaccines are
rolling out
we have a very strong manufacturing
sector services sector got
good reports on both this week the nfib
small business hiring report yesterday
was strong
like the landscape joni was describing
instead of the two trillion dollars what
the president ought to be doing is using
his bully pulpit
to speak to those governors who are
still putting restrictions on our
economy it's
time for them to end people need to go
back to school people need to go back to
work
we should live our lives absolutely lisa
erickson your reaction now that the
numbers are out
i think it's a really solid report maria
um obviously
you know we would all like the numbers
to be better now but really in the
context of what we've just been through
in the winter months with
coronavirus cases having picked up and
obviously some concerns about the pace
of reopening
the fact that we were able to reserve
that reverse the december
loss and at least get a decent gain uh
is is encouraging and then two if you
look at the wage numbers
again we're seeing some positive
progress where you're continuing to see
income grow up to some degree
but not at an alarming pace uh stoking
unnecessary inflationary
pressure so i think we've really got a
nice number the other thing that will be
interesting to dig down to really is
that participation rate
it's definitely encouraging that the
unemployment percent went down
but again that can be distorted if
people are dropping out of the workforce
and we certainly don't want to see that