CHECK THAT BIG BOARD THIS
FOLLOWS THE APRIL JOBS REPORT
DOWN WHAT, 40 POINTS THAT'S IT
AND ANDY IS HERE AUTHOR OF THE
CAPITALIST COME BACK, ALL RIGHT,
I SAY THAT WE'RE PRETTY CLOSE TO
FULL EMPLOYMENT WHAT DO YOU ?AI
>> WE HAVE THE FEWEST NUMBER OF
PEOPLE UNEMPLOYED THIS MONTH
SINCE MAY OF 2001, YOU'VE GOT
FEWER PEOPLE ON UNEMPLOYMENT
BENEFIT IN 40 PLUS YEARS AND
WE'VE GOT MORE PEOPLE WORKING
THIS MONTH SO LAST COUPLE OF
MONTHS WE'VE SET RECORDS FOR HOW
MANY PEOPLE ARE EMPLOYED SO YOU
KNOW AT SOME POINT YOU'RE GOING
TO PIEPGD THAT YOU'RE NEAR FULL
EMPLOYMENT.
>> THAT'S EXTRAORDINARY.
FULL EMPLOYMENT TO ME IS A VERY
GOOD PLACE TO BE.
I WOULD HAVE EXPECTED MORE TO BE
MADE OF THIS.
I WOULD HAVE EXPECTED THE MARKET
TO BE HAPPIER THIS.
>> GOING THROUGH NUMBERS ONE
NUMBER THAT I WOULD ENCOURAGE
PEOPLE TO LOOK AT IT IS NUMBER
OF PEOPLE WHO ARE WORKING
APARTMENT, WHO WERE WORKING PIPE
FOR ECONOMIC REASONS, AND IN
OTHER WORDS THEY COULDN'T FIND A
FULL-TIME JOB.
THERE WERE A LOT OF THOSE PEOPLE
DURING THE RECOVERY POST
RECESSION RECOVERY YEARS IT'S
NOW AT THE E LOWEST LEVEL SINCE
OCTOBER OF 2007 SO IT'S NOW AT A
PRERECESSION LEVEL SO WHEN YOU
TAKE PEOPLE WHO HAVE JOBS THEY
CAN BE YOU KNOW THAT AREN'T
FULL-TIME JOBS OR JOBS THEY
DON'T WANT AND MOVE TO FULL-TIME
JOBS OR MORE EMPLOYMENT, IT
DOESN'T --
IT DOESN'T INCREASE OR DECREASE
LABOR PARTICIPATION RATE.
THEY WERE EMPLOYED THEY'RE STILL
EMPLOYED BUT YOU HAVE PEOPLE
MOVING TO BETTER POSITIONS HAD
IS I THINK HUGE OR FOR THE 7.8%
YOU MENTIONED.
SO OKAY.
WHAT ABOUT SMALL BUSINESS I GOT
THAT REPORT FROM THE NATIONAL
FEDERATION OF INDEPENDENT
BUSINESSES.
THAT WAS A PRETTY GOOD GUNG HO
REPORT ARE SMALL BUSINESS IS
SOARING SAYS "THE WALL STREET
JOURNAL."
>> WELL THEY ARE SURGE AND, IN
FACT, YOU KNOW, THIS IS THE
INTERESTING THING ABOUT THIS
ECONOMY THAT I THINK PEOPLE NEED
TO FOCUS ON.
WE USED TO DO THIS SHOW AND WE
WOULD INTERVIEW ABOUT HOW PEOPLE
ARE DROPPING OUT OF THE LABOR
FORCE THAT COULDN'T FIND JOBS
FOR YEARS RIGHT.
AND NOW WE'RE TALKING ABOUT THE
BIGGEST PROBLEM THAT BUSINESSES
ARE FACING ACCORDING TO THE NFIB
IS FINDING EMPLOYEES TO FIELD
GOOD PAYING JOBS THAT'S TURNING
ECONOMY ON YOUR HEAD.
>> PROMO FOR YOUR BOOK.
ISN'T THAT GOOD.
CLEVER I HAVE TO SAY BY THE WAY
IS DOW AWFULLY CLOSE TO TURNING
POSITIVE AT THE MOMENT.
MAYBE THEY'RE LISTENING TO WHAT
WE HAVE TO SAY ONLY DOWN 20
POINTS AND DOWN 120 A FEW
MINUTES AGO.
I WANT TO ASK YOU ABOUT CHINA.
I DON'T THINK THERE'S GOING TO
BE ANY WHEN ALL OF THIS IS DONE
I DON'T THINK YOU CAN SAY CHINA
WON OR AMERICA WON.
I DON'T THINK YOU CAN SAY THAT.
THERE'S GOING TO BE A COMPROMISE
WHICH I THINK WILL TRY TO ALLOW
BOTH SIDES TO SMILE.
>> THAT'S WHEN YOU KNOW YOU HAVE
A GOOD DEAL WHEN PEOPLE WALK
WITH OUT OF THE ROOM THINKING
THEY DIDN'T WIN THEY PROBABLY
BOTH WON THAT'S THE WAY IT WORKS
IN BUSINESS AND WORK WITH CHINA
BUT WE WENT IN LIKE IN A VERY,
VERY NEGATIVE POSITION.
YOU KNOW, ANYTHING THAT HAPPENS
IS GOING TO BE AN IMPROVEMENT
FOR US AND WE'RE NOT GOING TO BE
WORSE OFF THAN WE WERE.
375 BILLION DOLLAR TRADE
DEFICIT, I MEAN, HOW MUCH WORSE
COULD IT GET SO WE'RE GONG TO
SEE PROGRESS FOR THE YIET BUT
I'M HOPING THAT CHINESE AREN'T
GOING TO NEGOTIATE WITH US IF
THEY CAN'T SAVE PAYING FACE AND
MAINTAIN DIGNITY SO QUESTION OF
TO MAKE SURE AND I THINK SENDING
ALL OF THESE --
SECRETARY OF THE TREASURY, AND
SECRETARY COMMERCE AND PETER,
THIS WAS GREAT.
THIS WAS A REAL SHOW OF RESPECT
FOR THE CHIENGDZ AND THAT'S
IMPORTANT TO THEM.
>> I THINK THAT A LOT OF PEOPLE
IN THE WEST DON'T UNDERSTAND --
THAT --
CHINA PUBLICLY MUST NOT BE
HUMILIATED.
>> EXACTLY.
YOU DO THAT, TO JINPING AND HE'S
OUT OF POWER IF HE LOSES FACE
YOU CAN'T HAVE THAT.
YOU ABSOLUTELY CAN'T HAVE THAT.
THAT'S WHY A COMPROMISE HAS TO
BE WORKED OUT OF SOME SORT.
>> WE OPENED RESTAURANTS THIS
CHINA WHILE I WAS HEAD OF CKE
RESTAURANTS THAT'S SOMETHING WE
KEPT IN MIND WHOEVER WE WERE THE
NEGOTIATING WITH A LANDLORD,
SUPPLIER WE HAVE TO MAKE SURE
THEIR DIGNITY WAS RESPECT ARED
AND ABLE I TO SAVE FACE AND I KO
AND ABLE I TO SAVE FACE AND I KW
THEY'RE SMART ENOUGH TO KNOW
THIS.
GLEERT WE'LL WAIT BECAUSE WE
HAVE TO WAIT FOR MONTHS --
>> NINE MONTHS FOR NAFTA.
YOU KNOW, ALREADY.
SO I MEAN IT WILL BE --
THESE DEALS TAKE A LONG TIME
THIS IS A BIG DEAL.
STUART: THE DOW IS ALMOST
POSITIVE WHAT A GUY.
>> PEOPLE WORKING PART-TIME FOR
ECONOMICKING REASONS.
AND THAT'S WHAT THEY --
STUART: YOU'VE GOT IT SON IF YOU
HOLD ON A SECOND YOU MIGHT --
THERE YOU GO.
TURN POSITIVE.
THANK YOU ANDY POZNER AMERICA
THANKS THIS MAN LOOK WHAT HE
JUST DID.
[LAUGHTER]
♪ ♪