2,055,000 JOBS BACK TO YOU.
>> THANK YOU VERY MUCH LABOR
DEPARTMENT, 2.9% WAGE GROWTH
HEADLINED UNEMPLOYMENT
AFRICAN-AMERICAN COMMUNITY
HIGHER -- BIG MOVE UP YOUR
THOUGHTS.
DAGEN: I WAS GOING TO SAY
INSIDE POPULATION CONTROLS IN
THE HOUSEHOLD SURVEY USED TO
COMPRISE ALL RATES NUMBER
PLOYED UNEMPLOYED CONTINUE BE
DIRECTLY COMPARABLE BETWEEN
DECEMBER AND JANUARY WE HAVE
THE DIG INTO NUMBERS MORE A
SOLID JOBS' REPORT MARKET
REACTION DOW FUTURES DOWN 200
POINTS, GOING INTO THE JOBS'
REPORT, WE SEE THE SELLING
PICK UP A LITTLE BIT NOW
EFFECT THAT 2.9% WAGE GROWTH
WOREY WARTS WORRYING MORE.
>> MAIN STREET WALL STREET
DECIDE SO MAIN STREET SIZE
FINALLY WE ARE SEEING WAGE
ECONOMY WALL STREET LOOKS SAYS
WE HAVE INFLATION COMING,
WE'VE GOT INTEREST RATES ON
THE RISE, THIS IS GOING TO BE
BAD FOR THE STOCK MARKET, SO
YOU HAVE A MAIN STREET/WROTE A
DIVIDE THE AVERAGE AMERICAN
SHOULD BE HAPPY BUYERS IN
STOCK MARKETS PROBING NOT
HAPPY.
>> 2.83% RATES MOVING UP GOING
TO UNNEVER BEEN MARKETS JON
HILSENRATH THOUGHTS.
>> THERE IS A LOT OF NUMBERS
FLYING AARON, TWO NUMBERS THAT
PEOPLE NEED TO FOCUS ON FIRST
ONE IS 200,000, THE PAYROLL
NUMBER STRONG SUPPORTS IDEA
WE'VE GOT GOOD GROWTH IN THE
FIRST QUARTER LIKE ATLANTA FED
HAS BEEN ESTIMATING, THE OTHER
NUMBER REALLY IMPORTANT HERE
IS 2.9 YOU TALKED ABOUT IT
WAGE GROWTH NUMBER LOOKS LIKE
WE ARE FINALLY STARTING TO SEE
A TIGHT LABOR MARKET GIVE
WORKERS MORE BARGAINING POWER,
BIGGER WAGE INCREASES GOOD FOR
>> WHY ARE MARKETS COMPLAINING
ABOUT THIS THIS IS A GOOD
STORY CHARLES PAIN SO THAT A
COOL ABOUT YOU KNOW, REACTSING
TO SO MANY KNEE-JERK -- I
WOULD HAVE BEEN SHAKING -- OUT
OF MARKET A LONG TIME AGO THIS
IS GOOD PARTICULARLY WAGES
UNEMPLOYMENT COST INDEX OUT
THIS WEEK WE SAW YOU KNOW SOME
JOBS, TRANSPORTATION, MATERIAL
REALLY, JOBS LIKE THAT ARE
PAYING BIG TIME MONEY
CONSTRUCTION NUMBER, WAS A
RECORD RIGHT IN DECEMBER 1.25
TRILLION DRIVEN BY RESIDENTIAL
CONSTRUCTION 46,000
CONSTRUCTION JOBS REBUILDING
THE COUNTRY AMAZING STUFF
HEARTLAND.
YEARS WHAT JOBS HAVE HIGHEST
WAGES GIVE YOUR HE SENSE WHERE
JOBS ARE, WHERE THE
HIGH-PAYING JOBS ARE.
>> YOU KNOW WHAT IS
INTERESTING MARIA, OF COURSE,
THE HIGH-PAYING JOBS,
DEFINITELY IN THE PROFESSIONAL
BESS SERVICE SECTORS,
ENGINEERING, FINANCE AND
ACOUNTING NURSING WE HAVE SEEN
A LOT OF MOVEMENT, IN WAGES
AND IN THAT AREA BUT, AGAIN,
AT HOURLY WAGES.
THROUGH A LOT OF THOSE JOBS
MIGHT BE ON THE LOWER LEVEL
SKILLED POSITIONS, SO YOU WILL
SEE DRIVERS MAYBE BEING
INCLUDED IN THIS.
WAREHOUSE WORKERS LOGISTICS
MANUFACTURING CONSTRUCTION,
ACTUALLY FEEL LIKE THIS
REPORTS IS ONE WAS THE BEST
REPORTS THAT ALSO GIVES A
GOODS REALITY OF WHAT I SEE
HAPPENING FROM EMPLOYERS
CANDIDATES IT IS A
MARKETPLACE, WE HAVE BEEN
SEEING A STRONG DEMAND
CERTAINLY FOR JOBS, AND SKILLS
ALL SECTORS BUT AS WE HAVE
ALSO BEEN SEEING WAGES MOVE SO
I FEEL GOOD ABOUT THIS REPORT
I THINK A GOOD ACCURATE
PICTURE WHAT IS REALLY
HAPPENING ON THE FRONT LINES.
>> I THINK A GOOD REPORT, TOO
I THINK THAT 2.9 WAGE NUMBER
THAT WE SAW, WE NEED TO SEE
HOW THAT IS THE NEXT FEW
MONTHS 18 DIFFERENT COMPANIES
RAISED MINIMUM WAGE WE NEED TO
SEE WAGES RISING IN MIDDLE
CLASS NOT JUST THE LOW END.
MARIA: GOOD POINT.
>> THAT IS SOMETHING TO WATCH
AS WE MOVE FORWARD.
DAGEN: WE DO HAVE A MARKETS
SELL-OFF, RIGHT, WE HAVE
HIGHER INTEREST RATES DOES
UNNEVER BEEN INVESTORS IN PART
BECAUSE THAT -- WHAT YOU GET
PAID TO OWN 10 YEAR TREASURY
WAGES TO HAVE YOU THE START
LOOKING AT THAT DOES HURTS
EARNS OF A COMPANY DO YOU HAVE
TO START LOOKING AT SECTORS
INDIVIDUAL COMPANIES BASED ON
WHAT THEIR COSTS LABOR COSTS
ARE, AND WITNESSES THAT MIGHT
BE ABLE TO CONTROL IT BETTER,
COMPANIES THAT MIGHT BENEFIT
FROM INTEREST CONSUMERS
FEELING MORE FLUSH.
>> WE HAVE BEEN IN LIKE A TWO
DECADE SLIDE REAL WAGES, I
MEAN HONESTLY, IT IS -- YOU
KNOW, I THINK THE IDEA THAT
YEAR-OVER-YEAR INCREASE IS I
BARELY HOVERING BOTHER
INFLATION MOST AMERICANS WILL
KEL YOU NOT KEEPING UP WITH
INFLATION, NOT KEEPING UP WITH
AMOUNT OF MONEY THEY PAY FOR
KIDS, COLLEGE, IT IS NOT
KEEPING UP WITH ALL THE
THINGS, SO I JUST -- YOU KNOW,
I THINK MAYBE ON CORPORATE
SIDE COULD BE AN ISSUE, BUT
FOR THE ECONOMY ITSELF, THIS
LITTLE BY THEY I CALL GREEN
CHUTE DECADE SLIDING WAGES
WOULD BE NUTS IN MY MIND LET
AMERICAN HE ECONOMY EVOLVE.
>> THIS MARKETS HAS WORSENED
DOWN 250 RIGHT NOW.
>> I THINK MAKING -- IT IS
MARKET LET IT COME DOWN
SOMETIMES, LET THERE BE MORE
--
>> BABY, COME WITH ME.
[LAUGHTER]
>> I WANT TO BUY IN.
TO MISHAP SHORT TERM AND LONG
TERM IN THE MARKET WE FOCUSED
A LOT ON STOCK MARKET, THIS
YEAR AND LAST YEAR, WHAT
REALLY MATTERS, IS THE REAL
ECONOMY.
AND WHAT IS HAPPENING IN THE
REAL ECONOMY IS WAGES ARE
GOING UP, YOU ARE SEEING GDP
GROWTH I THINK WORKING
CELEBRATING SAYING THE
UNDERSTAND WE'RE NOT GOING TO
BE IN LOW-INTEREST RATE
ENVIRONMENT FOREVER.
POINTING OUT THE PRESIDENT HAS
CELEBRATING THIS
RECORD-BREAKINGING RUN IN
MARKET TAKING CREDIT FOR IT
FREQUENTLY ON TWET WE'RE NOT
ONLY ONES.
>> HE SHOULD CONTINUE TO --
>> TAKE CREDIT FOR ECONOMIC
GROWTH STORY THAT IS FOR SURE.
>> HE CAN'T SAY -- ON DOWN
DAYS I DON'T LIKE THE MARKET
IT IS -- WE ARE HUGE, UP HUGE!
AND THE IDEA THAT IT PULLS
BACK A LITTLE BIT -- I REALLY
THINK WE ARE CONSOLIDATING.
>> I AM NOT SUGGESTING THE
BEGINNING OF SOMETHING WORSE
TO COME, BUT I SAID REPEATEDLY
YOU TRY TO TAKE CREDIT ON THE
WAY UP YOU OWN IT ON THE WAY
DOWN IF YOU ARE PRESIDENT OF
THE UNITED STATES.
>> ALTHOUGH YOU HAVE TO GO
DOWN A WHOLE LOT FOR HIM TO
NOT WANT TO TAKE CREDIT FOR
IT.
>> YEAH 8 TRILLION DOLLARS
MARKET VALUE SINCE ELECTION,
THAT IS A LOT TO REVERSE.
>> I KNOW MAYBE, MAYBE SOME
THINK PEOPLE VERY HAPPY WITH 4
O 1 KS, HAPPY WITH INCREASES