>> UNEMPLOYMENT CLAIMS ARE
WAGE STAGNATION, WE ARE
FINALLY SEEING RISING WAGES.
>> Martha: THAT WAS
PRESIDENT TRUMP EARLIER
TODAY AT THE G.O.P. RETREAT
TOUTING SOME OF THE NATION'S
RECENT ECONOMIC SUCCESSES
AND LOW JOBLESS NUMBERS.
A CHIEF ECONOMIC MIST AT
MOODIES WENT SO FAR TO
PREDICT TODAY WITH THE WAY
THINGS ARE GOING UNDER THE
ADMINISTRATION THAT THE
UNITED STATES COULD SEE
3.5 AND YOU CAN TELL FROM
THAT CHART IT HAS NOT BEEN
THERE SINCE THE 1950S AND
1960s.
THAT'S A REALLY BIG GAME
CHANGER.
BUSINESS NETWORK.
THAT'S EXTRAORDINARY.
>> RIGHT.
>> WHAT DOES IT MEAN AND
WHAT IS MARK ZANDI SAY
HAPPENS BECAUSE OF THAT
CHART.
>> THIS IS ONE OF THOSE
THINGS WHERE THEY ARE TRYING
TO WARN YOU OF THE BAD NEWS
UNEMPLOYMENT FALLS THAT LOW,
WE WOULD SEE A LOT OF WEIRD
THINGS WOULD HAPPEN -- A LOT
OF INFLATION AND STUFF.
GOING TO HAPPEN, FIRST OF
ALL.
MARK ZANDY'S MATT IS THE ONE
WHO DID.
THIS I HAVE A FEW PROBLEMS
WITH HE IS THE GUY WHOSE
STIMULUS SHOVEL READY STUFF
AND THEY SAID THE ECONOMY
WAS GOING --
>> Martha: I REMEMBER THAT.
>> ONLY 2.5%.
DIDN'T HAPPEN.
I STRUGGLED WITH THE MATH A
LITTLE BIT.
I THINK WHAT'S HAPPENING IS,
I THINK WE CURRENTLY ARE AT
FULL EMPLOYMENT.
I BET THAT WE WON'T SEE IT
GO DOWN MUCH MORE.
BUT WHAT I'M LOOKING FOR IN
THE NEXT EMPLOYMENT REPORT,
I WANT TO SEE WAGE GROWTH.
THAT'S WHAT THIS IS REALLY
ALL ABOUT.
WE SAW WAGE GROWTH IN THE
PRIVATE SECTOR REALLY GROW
LAST YEAR.
VERY HIGH.
I WANT TO SEE THAT WAGE
DIPPED A LITTLE LAST YEAR.
>> Martha: ONLY WAY TO GO UP
IS PEOPLE ARE LOOKING AROUND
FOR WORKERS AND THEY ARE
SAYING I CAN'T FIND THEM SO
I'M GOING TO HAVE TO PAY
PEOPLE MORE TO GET THEM TO
COME TO WORK AT MY PLACE.
>> WE ARE AT THAT POINT
RIGHT NOW.
WHEN YOU LOOK AROUND WHETHER
IT'S THE LOCAL BANK.
>> Martha: WHICH IS GREAT
FOR PEOPLE.
>> IT'S FANTASTIC.
YOU ARE ALREADY SEEING
PEOPLE HAVING PRICING POWER
WHEN THEY GO FOR THE JOBS.
THAT'S THE REASON WHY YOU
ARE SEEING PEOPLE GIVE OUT
THESE BONUSES.
IT'S NOT BECAUSE THEY WANT
THEY HAVE TO ENTICE WORKERS.
>> HAVING A HARD TIME
FINDING RESPONSIBLE ADULTS
WHO WILL SHOW UP FOR WORK.
ALL OF A SUDDEN THOSE PEOPLE
ARE HARD TO FIND.
FILLED.
THAT'S A LOT OF THE TECH
JOBS THAT WE DON'T HAVE THE
RIGHT PEOPLE FOR.
PROBLEM.
I DON'T KNOW THAT WE
NECESSARILY HAVE THE PEOPLE
TO FILL THOSE.
>> Martha: AREN'T THE ROBOTS
>> Martha: I'M SAY GOING
THERE JOBS THAT CAN'T BE
FILLED BY THE PEOPLE
AVAILABLE IN THIS COUNTRY.
RETRAIN PEOPLE FOR THE HIGH
SKILLED JOBS.
PEOPLE TRAINING THE ROBOTS
WE HAVE TO TRAIN PEOPLE.
>> Martha: WHAT ABOUT THE
MARKET?
A LOT OF FOLKS ARE SAYING
THEY WATCHED THEIR 401(K)S,
THEY ARE REALLY HAPPY WITH
THEIR INVESTMENTS.
THE NAYSAYERS OUT THERE SAY
IT CAN'T LAST FOREVER LIKE
THIS.
>> THAT'S TOUGH.
RIGHT NOW WE ARE SEEING THAT
SINCERELY FOR THE FIRST
THIS ISN'T FAKE FED DRIVEN.
THIS IS MONDAY NEST TO GOD I
HAVE TO PAY MY WORKERS MORE.
BUSINESSES INVEST.
TAXES ARE LOWER.
THIS IS BIG.
THE ECONOMY IS GOING TO
THINK, WILL CONTINUE TO GO
PRICED AT THIS POINT.
AND THE SPECTER OF
WHEN I TALK TO CEOS THAT ARE
OUT THERE AND BUYING STUFF,
THEY SAY THEY ARE SEEING IT
IN COMMODITIES WHICH IS BAD
NEWS.
THEY ARE SEE EGG IT IN OIL,
IN LUMBER.
>> Martha: EVEN IF INTEREST
RATES GO UP A LITTLE BIT.
>> THAT'S FINE.
>> Martha: OBAMA
ADMINISTRATION THEY WERE
SCRAPING AT THE BOTTOM.
>> THAT'S TRUE.
>> Martha: GOING AS FAR AS
THEY POSSIBLY OKAY.
>> THAT'S TRUE.
THAT COST OF INPUT.
THAT'S WHERE IT STARTS TO
COME IN.
WHEN YOU SEE IT COMING N OIL
AND THAT SORT OF THING.
YOU DON'T WANT TO SEE IT
PERCOLATE TOO QUICKLY.
I DON'T THINK THE POINT
BEHIND THIS WHOLE OH NO
UNEMPLOYMENT MAY FALL SO LOW
AND THAT SOUNDS GOODS.
IT'S ACTUALLY A TRAP WHERE
THEY ARE SAYING TO YOU
SOMETHING BAD IS COMING.
AND I DON'T THINK SOMETHING
BAD IS COMING.
>> Martha: I THINK PEOPLE
KNOW HOW MUCH MONEY IS IN
THEIR WALLET AND KNOW WHAT
THEY ARE GETTING PAID AT
WORK.
>> PEOPLE GOT PAID MORE
TODAY.
IT WAS THE BIG DAY WHEN
PAYCHECK WENT UP.
IF YOU HAVEN'T LOOKED AT