President Trump, Sixty Billion Dollars, One Percent discussed on


Is i asked him i said what's your biggest challenge and they said we can't find workers and i say okay are you raising wages they say no and then i said well then you're just whining right you want more of something but you're not willing to pay for it that's called wining and so until i hear businesses actually say no we're raising wages to attract workers then i'm going to know that they're serious and again we're seeing i don't want to overreact to one jobs report but three hundred thousand number comes into the payroll report the last one we need about one hundred or one hundred twenty thousand jobs for month to keep up with population growth so to for the economy to create two hundred thousand jobs or three hundred thousand jobs that means we're using slack that was somewhere in the economy that's remarkable and that's happening at a time of modest wage growth imagine how workers are going to respond if wage growth picks up i think we're going to see even more people get drawn into the job market and so this the most important determination we are trying to make in my opinion is how much slack is in the labor market and i think the headline unemployment rate which right now is four point one percent that's historically been a pretty good proxy for slack in the labor market i think that gauge is broken because of the financial crisis and a lot of people have given up and are only now starting to re enter the labor market i want to ask you about another big piece of news this week for and that was president trump putting tariffs up to sixty billion dollars on on chinese exports the chinese of course are are responding in kind.

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