12 Burst results for "Bureau Of Labor Statistics"
WTOP
"bureau labor statistics" Discussed on WTOP
"People who served at a missile base in the West report having cancer. The Air Force says now there are unsafe levels of a likely carcinogen there. More from CBS's Matt Piper. At Strom Air Force Base in Montana of 300 surface swipe samples 21 detected PCBs or highly carcinogenic chemical compounds and at least nine current or former missileers were diagnosed with non -Hodgkin lymphoma rare a blood cancer a new cleanup effort has been ordered and there could be hundreds more cancers of all types based data on new from a grassroots group of former missile launch officers and their surviving family members. More than 600 ,000 customers are without power from Georgia to Pennsylvania after severe weather pummeled the eastern seaboard at least people two have died. KYW -TV reporter Carrie Corrado is in Delaware. It's lights out in Newark. you All can see are downed trees which are wrapped in power lines blocking roads and resting on homes. Mother Nature no mercy to this neighborhood. Christy Tramuja says she was in the garage and could hear the roar of the storm as fierce winds and torrential downpours passed through the area. The house was shaking and it was just it was horrible. It was really scary. Neighbors now assessing the damage and waiting for some help to arrive. It's a stunning stat. The Federal of Bureau Labor Statistics says health care workers are now more likely to suffer non -fatal injuries by violence than employees in any other line of work. Nurses union official Sandy Redding. We are seeing increased numbers of workplace violence especially in some psych wards, the emergency room and even on the med -surg units family members don't think their patients are getting the the care that they need and deserve in a timely manner. Is a computer program going to push you out of work? Businesses Jim Krasulis says some workers are worried. Nearly half of Americans are worried that artificial intelligence ...force will them out of a job according to a new poll by the Los Angeles Times. Almost 60 percent of those between 18 and 34 fear they could lose their job because of AI. Americans over 55 are less worried about artificial intelligence coming for their jobs. Lawyers for Donald Trump say they don't want strict limits on what their client can say about his election conspiracy case. Details from CBS's Robert Costa. They continue to underscore or that that they believe Trump has first amendment rights free speech rights to speak out about this case as a federal candidate for the and presidency they're going to keep fighting that in court and filing after filing. Dario Antonio Ushaga this case. Here's what's next! The man known as on TL will be sentenced in federal court in New York to at least 20 years in prison for drug trafficking. This is CBS News. If you need to hire you need indeed their end -to -end hiring system helps you to attract, interview and hire candidates all in the same place. Visit indeed .com slash credit. is This WTOP News. WTOP -FM Washington. WWW -TFM Manassas. is WTLP FM Braddock Heights Frederick. WTLP at 204. This is the morning. It is August 8th, 2023. We're looking at spotty showers ending by their clear promising and less humid. Slows in the 60s and 70s. 70 right now. Good morning to you. I'm Dean Lane weather topping our news as we roll into this day together Tuesday for you a flash flood warning we want to let you know about for the next 45 minutes or so is still in operation in DC Montgomery County and Prince George's County Maryland this morning along with
Bloomberg Radio New York
"bureau labor statistics" Discussed on Bloomberg Radio New York
"Just last week, Treasury Yellen was before this committee and described how the transformational investments from the Inflation Reduction Act are ushering in a renaissance of domestic manufacturing. These are good paying jobs, union jobs that are expanding our production capacity here at home while reducing our reliance on goods imported from abroad. As I indicated in the editorial by my hometown newspaper, the Las Vegas Sun, remarks that annual investments in manufacturing has construction more than doubled its pre -pandemic levels. Furthermore, when we narrow the focus to the region, including Nevada, the U .S. Census Bureau estimates that in just two years private manufacturing construction increased almost tenfold. So want if we to rebuild the American middle class, we must do so from the middle out and by investing in modern infrastructure and modern manufacturing facilities. But this does not mean that everything is improving equally. I've heard time and again from my constituents about the cost of housing being one of their biggest pain points. The Monetary Policy Report points out that housing services prices have risen a shocking eight and a half percent over the twelve month period ending in April and in my district it's even worse. So Chair Powell, at a time where it has become increasingly difficult for working Nevadans to purchase a home. I worry that rising mortgage rates will put working families even further behind on accessing the wealth and equity that a house provides. While higher rates have cooled some housing markets across the country, what do you see as the biggest remaining upward pressure on housing services and what can we do in Congress to incentivize new home starts to hopefully moderate the imbalance between supply and I think you're talking about longer run, largely longer run factors here and I think there there has been for some time a shortage of housing. It's harder to get lots. It's harder to get workers and and in the pandemic it had been harder to get materials and things like that, so there's certainly a need for for more housing. I think during during the pandemic you had people wanting to live in houses rather than downtown in apartments because of COVID. You had low rates and so you had two or three years of very very high price increases for housing and now that has flattened out a lot as we've raised rates. The gentleman's time has expired. The gentleman from New York, Mr. Lawler. Thank you Mr. Chairman. Chairman Powell, you the feds vice chairman for supervision and many others have indicated that the banking system is well maintained robust during the COVID shock and related shutdowns of economic activity and severe fed testing, stress testing. Nonetheless the vice chair for supervision wants to increase capital other and requirements on financial institutions. This will have substantial economic effects that will begin immediately while you are still focusing on bringing inflation back to the feds 2 % target. Excessively high capital requirements will constrain credit provision to the economy costing jobs, incomes, opportunities and living standards. As my colleague Mr. Garbarino pointed out, 1 a % increase in capital requirements could potentially reduce GDP by up to 16 basis points based on the Basel committee literature. On January 1st 30 2021 year fixed rate mortgages had an interest rate of 2 .77 %. Now for the same loans individuals are looking at a 6 .69 % interest rate for a 30 year fixed rate mortgage. For the median home valued at $436 ,800 the difference from less than two and a half years ago to now equates to over $300 000 over more the course of the loan. For the median household making around $71 ,000 a year that extra $10 ,000 a year out of pocket mortgage costs is crushing. Some areas like my district are even harder hit due to the high cost of living and the lack of housing. Combine that with inflation at or above 4 % and these factors are taking a real toll on the average American family including in the Hudson Valley. Now further decreasing the availability of credit to households and businesses across the country would only likely reverse in this crisis. So Chairman do you agree that excessively high capital levels strain banks lending capacity with spill over effects on jobs and living standards for Americans and effects would begin immediately independent of any income? I do think that as I mentioned earlier there is a tradeoff between safety and soundness and availability of capital and you want to get that balance right. But respectfully you said you have testified that there was more than enough capital in these banks so where are where are we unsafe and unsound that we would require more capital requirements? Well as I mentioned that's the question we're going to be asking as we review the proposals when they do come forward. We don't have a proposal in front of us at this point and I think any as I mentioned any increase in the capital the for large banks would need to be justified. I don't know that there will be much in the way of capital increases proposed for banks other than the very large banks but we'll have to see. So you don't believe regional and community banks will face the same requirements. Very think as they do now. But you're not going you're not looking to increase the requirements on them. We'll have to to see what what the proposals turn out to be honestly that there's still to some extent in motion and once once they're out can we have lots of conversations about the specifics but until they are it's tough to do that. And you'll commit to providing this committee with all such analysis before any proposals come out? I think there there will will be a proposal that comes to the board sometime this summer and the board will vote on that and we'll obviously share whatever analysis we have. Are you concerned that any significant increase in capital could significantly jeopardize the Fed's efforts to rein in inflation? So the thing about capital requirements is there would be a 90 day comment period roughly something like that could be in that range and then there would be a period a long period considering of those the comments that are made and then there would be movement toward a comp coming to an agreement about what to what to finalize and after that so that would take many months and would then you be into a situation where there would be long phase ins so I don't really think capital requirements play into the near term economic situation the way interest rate hikes do. Chairman, according to of the Bureau Labor Statistics CPI Inflation Calculator takes $1 .16
Aviation Careers Podcast
"bureau labor statistics" Discussed on Aviation Careers Podcast
"These ultra low cost carriers. People giving away different deals, even at the legacy carriers. So it's democratized aviation, for example, it could be cheaper to take your family from point a to point B using an airplane instead of a bus or a train. And that was not true many years ago. So that's a great thing. I think that's awesome that we're doing that now. So this pilot shortage that we're looking at today, the pile shortage 2023 should not be driving your decision to become a pilot, whether it's for the airlines, small cargo, small jet operator, a corporate operator. What should be driving your decision to become a pilot and to become an airline pilot is over the next ten, 20 years, is this going to be the career that I want and is the outlook good. And is the pay something that is good for me. And that's what we look at. And that's kind of what I do in the coaching sessions. Aviation careers podcast dot com slash coaching and check out what we do there. We look at as a one on one situation. Is this a good situation for you? To be able to get into this industry. So I think one of the problems we have with this industry is we oversell certain things like the pilot shortage, we oversell, the fact that we have this shortage and it's going to be here forever. We're going to have a downturn in the economy at some point. Remember, there's other things that have intervened. The government has intervened, especially with licensing. They've said, okay, you need more hours to become an airline pilot where you didn't have to have as many hours before. They've also intervened, where they've had downturns in the economy. They've actually kept the airlines afloat because we need a mode of transportation. One of the reasons they've done that. And that has caused people to actually stay employed and some people have actually made more money during the downturn, even while they weren't flying. That sounds crazy, but some people have taken advantage of some of the loans that the government's given out. So those are the kind of things that not a battle. I'm just saying that if you're working for an airline, you may get paid to sit at home during even during this pandemic that we had recently. So those are some of the good things. The good news is, there's going to be jobs, it's going to be an industry that keeps growing aviation, the costs to the individual, especially for the airlines, is going down for the airline ticket prices. I know that the prices have come up at due to inflationary reasons also. And so there's lots of reasons ticket prices go up and down. And there's also lots of reasons why there's more supply and demand for pilots. There's lots of things I could quote, and I'm not going to go into it. Obviously, we could talk about the retirements. We could talk about the expansion of the airlines, but I'm taking this as a more holistic viewpoint. Yes, there is going to be some growth in this industry about about 7% per year as far as what the BLS is talking as bureau labor statistics. You can make a good living as an airline pilot as a commercial pilot, 135 median income. That's pretty good too. So you'll make better than most and just remember this, that it's also something that's a lot of fun. And something you can do for the rest of your life and enjoy.
Bloomberg Radio New York
"bureau labor statistics" Discussed on Bloomberg Radio New York
"Tell me your thoughts on whether long run on gold. Is less than 1% above inflation. So it's basically an inflation hedge long run. Now, what's happened with gold, it hasn't, it is failed, so to speak as an inflation hedge. I mean, does that surprise you? You would have thought 2022 should have been the year gold exploded. But I think the big difference. Is, I mean, I think that in the early part of this inflation, Bitcoin usurped the role of gold. Millennial digital gold. Digital, millennial gold, they wanted to go to that and it was sold as an inflation hedge, and that's another thing that made it go up too high. What Bitcoin, Bitcoin? Yeah, but Bitcoin ran up when inflation was under 2%, right? Yeah, but that was the innovation and all the rest. And then it was being sold as the inflation heads because the truth is there is going to be a limited number of bitcoins. There's not a limited number of dollars. So there was some logic to that. That makes sense. No, it shouldn't go up as much as it did, but the logic was, it is the new inflation hedge the Bitcoin it serves as the gold where in 19 78, 79 and 80 people rushed to go, there was no Bitcoin. People now were rushing to Bitcoin and the younger people don't care about gold and it wasn't driving them. And then we need to do a disclosure on this because my firm and your firm wisdom tree and results wealth management work together on the Jeremy give us the full. There's an RWA with some tree crypto indexer to basket of 1415. We bogle crypto, which he would try to index more diversified exposure than just Bitcoin or so full disclosure. That's out there. But you're going to say something about Bitcoin. I was going to say something about gold also. I think golden dollar terms has been a big failure. Golden yen terms has been great, golden Euros. Now, I hate that argument. You know why? Because people always tell me you should have gone back in time and bought gold in fill in the blank. Two years ago, well, nobody said that back then. It's easy to look after the fact. Isn't that just a currency bet? Well, the point is our team does a lot of work on gold because we're big commodity players in Europe. And we have some modeling on what drives gold prices and certainly negative interest rates. Gold had this cost of carrier had to compete with bonds. Then you had all this negative interest rate debt in Europe and that was obviously a positive charity versus negative rate. That went away. That was one of the things driving. So real rates was a big factor in gold. So the fact that real rates went up 250 basis points. That's a big headwind to gold. The dollar surging ahead big headwind. So in other words, it's not just inflation its inflation rates. Real rates being from negative 250 basis point move in real rates, you could say, wow, gold is really doing much better than stocks and bonds. I mean, it is. Well, it's only down 9% this year, but not what I would have expected, given the move in real rates. It's actually surprisingly doing even better than that, given for the modeling. Yeah. Yeah, and we talk about inflation and I do want to get this in crowd inflation because it's part of what we were talking about in our earlier about the rant on being too tight. I have maintained and now there's finally papers and talk about this that the inflation data that we're getting today particularly core inflation is overestimated and inflated. So to speak, on the services side versus the good side of the boat. Owners equivalent rent is problematic. And housing costs and rental isn't even not owners equivalent just to rental park of that. We basically, because of the way the bureau labor statistics computes, it's very lagged in housing prices. So we didn't record enough inflation previously. Right. And now we're over going to over record inflation and our today in the next couple of years. Something very similar had happened heading into the financial crisis like O four O 5 O 6 BLS was behind on the inflation reporting because it was embedded in housing and then once people flipped from buying to renting, suddenly they overshot on the other way, which raises an interesting question. If the FOMC is raising their rates, which is helping to drive mortgage rates higher, which is sending all these people to rent is the fed indirectly making inflation higher. First of all, they are responsible for the inflation. They are responsible for the fact that the case shiller housing index from the month of the pandemic 2020 through the spring of this year was up 40% rental indexes were up 30%. Wow. So they're way behind and they're still showing an accelerating while the real housing prices are going down now. Right. Even with the limited inventory, prices are going down there. Bidding wars are over. They're discounts. People are now really worried if they have to sell. So the question is, is the fed aware of the fact how behind the curve, their housing data is? I hope so. They're writing some papers on it, but they don't seem to reflect it. The research department and the FOMC don't seem to communicate. Yeah, I mean, I hope so. And then second, if they are aware of this at what point do they, they should be pivoting. I know we're at what point do they declare victory and say they should be saying, I say maybe do another 50, but they won't. In
Bloomberg Radio New York
"bureau labor statistics" Discussed on Bloomberg Radio New York
"Our team does a lot of work in gold because we're big commodity players in Europe. And we have some modeling on what drives gold prices and certainly negative interest rates. Gold had this cost of care. You had to compete with bonds. Then you had all this negative interest rate debt in Europe, and that was obviously a positive charity versus negative rate. That went away. That was one of the things drivers. So real rates was a big factor in gold. So the fact that real rates went up 250 basis points. That's a big headwind to gold. The dollar surging. So in other words, it's not just inflation, its inflation rates. 250 basis point move in real rates, you could say, wow, gold is really doing much better than stocks and bonds. I mean, it is. Well, it's only down 9% this year, but not what I would have expected, given the move in real rates. It's actually surprisingly doing even better than that, given some of the modeling. Yeah. Yeah, and we talk about inflation and I do want to get this out inflation because it's part of what we were talking about in our earlier about the rant on being too tight. I have maintained and now there's finally papers and talk about this that the inflation data that we're getting today particularly core inflation is overestimated and inflated. That's so to speak. On the services side versus the good side of the boat. Owners equivalent rent is problematic. The owners equivalent rent and housing costs and rental isn't even not owners equivalent just to rental park of that. We basically because of the way the bureau labor statistics computes, it's very lagged in housing prices. So we didn't record enough inflation previously. Right. And now we're over going to over record inflation and our today in the next couple of years. Something very similar had happened heading into the financial crisis, like O four O 5 O 6 BLS was behind on the inflation reporting because it was embedded in housing and then once people flipped from buying to renting, suddenly they overshot on the other way, which raises an interesting question. If the FOMC is raising their rates, which is helping to drive mortgage rates higher, which is sending all these people to rent is the fed indirectly making inflation higher. First of all, they are responsible for the inflation. They are responsible for the fact that the case shiller housing index from the month of the pandemic 2020 through the spring of this year was up 40% rental indexes were up 30%. Wow. So there's a way behind and they're still showing an accelerating while the real housing price are going down now. Right. Even with the limited inventory, prices are soft. Going down there. Bidding wars are over. They're discounts. People are now really worried if they have to sell. So the question is, is the fed aware of the fact how behind the curve, their housing data is? I hope so. They're writing some papers on it, but they don't seem to reflect it. The research department and the FOMC don't seem to communicate. Yeah, I mean, I hope so. I mean, you know, and then second, if they are aware of this at what point do they, they should be pivoting. I know. At what point do they declare victory and say they should be saying, I say maybe do another 50, but they won't. In November. Right. And then stop and see what happens. Now, Boer is talking about 75, 75 and waiting. I think that's too aggressive and will accelerate the downside too much. That's my position. We have been speaking with professor Jeremy Siegel of the Wharton school of business and Jeremy Schwartz
Bloomberg Radio New York
"bureau labor statistics" Discussed on Bloomberg Radio New York
"In other words, it's not just inflation, its inflation rates. Real rates being from negative 250 basis point move in real rates, you could say, wow, gold is really doing much better than stocks and bonds. I mean, it is. Well, it's only down 9% this year, but not what I would have expected, given the move in real rates. It's actually surprisingly doing even better than that, given some of the modeling. Yeah. Yeah, and we talk about inflation and I do want to get this in crowd inflation because it's part of what we were talking about in our earlier about the rant on being too tight. I have maintained and now there's finally papers and talk about this that the inflation data that we're getting today particularly core inflation is overestimated and inflated. So to speak, on the services side versus the good side of the boat. Owners equivalent rent is problematic. The owner's equivalent rent and housing costs and rental isn't even not owners equivalent just to rental park of that. We basically because of the way the bureau labor statistics computes, it's very lagged in housing prices. So we didn't record enough inflation previously. Right. And now we're over going to over record inflation and our today in the next couple of years. Something very similar had happened heading into the financial crisis, like O four O 5 O 6 BLS was behind on the inflation reporting because it was embedded in housing and then once people flipped from buying to renting, suddenly they overshot on the other way, which raises an interesting question. If the FOMC is raising their rates, which is helping to drive mortgage rates higher, which is sending all these people to rent is the fed indirectly making inflation higher. First of all, they are responsible for the inflation. They are responsible for the fact that the case shiller housing index from the month of the pandemic 2020 through the spring of this year was up 40% rental indexes were up 30%. Wow. So there's a way behind and they're still showing an accelerating while the real housing prices are going down now. Right. Even with the limited inventory prices are going down there. Bidding wars are over. They're discounts. People are now really worried if they have to sell. So the question is, is the fed aware of the fact how behind the curve, their housing data is? I hope so. They're writing some papers on it, but they don't seem to reflect the research department in the FOMC don't seem to communicate. Yeah, I mean, I hope so. I mean, you know, but and then second, if they are aware of this at what point do they, they should be pivoting. I know we're at what point do they declare victory and say they should be saying, I say maybe do another 50, but they won't. In November. Right. And then stop and see what happens. Now, Boer is talking about 75, 75 and waiting. I think that's too aggressive and will accelerate the downside too much. That's my position. We have been speaking with professor Jeremy Siegel of the Wharton school of business and Jeremy Schwartz
Bloomberg Radio New York
"bureau labor statistics" Discussed on Bloomberg Radio New York
"The dollar surging. So in other words, it's not just inflation, its inflation rates. Real rates being from negative 250 basis point move in real rates, you could say, wow, gold is really doing much better than stocks and bonds. I mean, it is. Well, it's only down 9% this year, but not what I would have expected, given the move in real rates. It's actually surprisingly doing even better than that, given some of the modeling. Yeah. Yeah, and we talk about inflation and I do want to get this in crowd inflation because it's part of what we were talking about in our earlier about the rant on being too tight. I have maintained and now there's finally papers and talk about this that the inflation data that we're getting today particularly core inflation is overestimated and inflated. So to speak, on the services side versus the or the good side of the boat. Owners equivalent rent is problematic. The owners equivalent rent and housing costs and rental isn't even not owners equivalent to the rental park of that. We basically because of the way the bureau labor statistics computes, it's very lagged in housing prices. So we didn't record enough inflation previously. Right. And now we're over going to over record inflation and our today in the next couple of years. Something very similar had happened heading into the financial crisis, like O four O 5 O 6 BLS was behind on the inflation reporting because it was embedded in housing, and then once people flipped from buying to renting, suddenly they overshot on the other way, which raises an interesting question. If the FOMC is raising their rates, which is helping to drive mortgage rates higher, which is sending all these people to rent is the fed indirectly making inflation higher. First of all, they are responsible for the inflation. They are responsible for the fact that the case shiller housing index from the month of the pandemic 2020 through the spring of this year was up 40% rental indexes were up 30%. Wow. So there's a way behind and they're still showing an accelerating while the real housing prices are going down now. Right. Even with the limited inventory, prices are going down there. Bidding wars are over. They're discounts. People are now really worried if they have to sell. So the question is, is the fed aware of the fact how behind the curve, their housing data is? I hope so. They're writing some papers on it, but they don't seem to reflect the research department in the FOMC don't seem to communicate. Yeah, I mean, I hope so. I mean, you know, and then second, if they are aware of this at what point do they, they should be pivoting. I know at what point do they declare victory and say they should be saying, I say maybe do another 50, but they won't. In November. Right. And then stop and see what happens. Now, mower is talking about 75, 75 and waiting. I think that's too aggressive and will accelerate the downside too much. That's my position. We have been speaking with professor Jeremy Siegel of the Wharton school of business and Jeremy Schwartz
Bloomberg Radio New York
"bureau labor statistics" Discussed on Bloomberg Radio New York
"And bought gold in fill in the blank. Two years ago, well, nobody said that back then. It's easy to look after the fact, isn't that just a currency bet? Well, the point is our team does a lot of work on gold because we're big commodity players in Europe. And we have some modeling on what drives gold prices and certainly negative interest rates. Gold had this cost of care. You had to compete with bonds. Then you had all this negative interest rate debt in Europe and that was obviously a positive charity versus negative rate. That went away. That was one of the things drivers. So real rates was a big factor in gold. So the fact that real rates went up 250 basis points. That's a big headwind to gold. The dollar surging. So in other words, it's not just inflation, its inflation rates. Being from negative 250 basis point move in real rates, you could say, wow, gold is really doing much better than stocks and bonds. I mean, it is. Well, it's only down 9% this year, but not what I would have expected, given the move in real rates. It's actually surprisingly doing even better than that, given some of the modeling. Yeah. Yeah, and we talk about inflation and I do want to get this in crowd inflation because it's part of what we were talking about in our earlier about the rant on being too tight. I have maintained and now there's finally papers and talk about this that the inflation data that we're getting today particularly core inflation is overestimated and inflated. So to speak, on the services side versus the good side of the boat. Owners equivalent rent is problematic. The owners equivalent rent and housing costs and rental isn't even not owners equivalent to the rental park of that. We basically because of the way the bureau labor statistics computes. It's very lag in housing prices. So we didn't record enough inflation previously. Right. And now we're over going to over record inflation and our today in the next couple of years. Something very similar had happened heading into the financial crisis, like O four O 5 O 6, BLS was behind on the inflation reporting. Yes. Because it was embedded in housing, and then once people flipped from buying to renting, suddenly they overshot on the other way, which raises an interesting question. If the FOMC is raising their rates, which is helping to drive mortgage rates higher, which is sending all these people to rent is the fed indirectly making inflation higher. First of all, they are responsible for the inflation. They are responsible for the fact that the case shiller housing index from the month of the pandemic 2020 through the spring of this year was up 40% rental indexes were up 30%. Wow. So there's a way behind and they're still showing an accelerating while the real housing prices are going down now. Right. Even with the limited inventory, prices are going down there. They think wars are over. They're discounts. People are now really worried if they have to sell. So the question is, is the fed aware of the fact how behind the curve, their housing data is? I hope so. They're writing some papers on it, but they don't seem to reflect it. The research department and the FOMC don't seem to communicate. Yeah, I mean, I hope so. I mean, you know, but and then second, if they are aware of this at what point do they, they should be pivoting. I know at what point do they declare victory and say they should be saying, I say maybe do another 50, but they won't. In November. Right. And then stop and see what happens. Now, mower is talking about 75, 75 and waiting. I think that's too aggressive and will accelerate the downside too much. That's my position. We have been speaking with professor Jeremy Siegel of the Wharton school of business and Jeremy Schwartz
KTOK
"bureau labor statistics" Discussed on KTOK
"Download the app when you get a chance and take it with you anywhere you want to go is with us now. And Steve, you know, I keep having flashbacks to the 19 seventies. Every time I see these inflation rates, what's the deal? Yes, you know. Unfortunately, we are going back to the 19 seventies. And I don't mean in the good way not to disco music, or, you know, perhaps silk shirts if you thought those were called in 19 seventies, but instead in all of the worst ways, the parallels continue to accelerate, particularly regarding the economy and you're so right about the inflation numbers. The data lately has simply been terrible. Actually just wrote an article about this that I put up in newsmax dot com. It's called Biden 19 seventies style economy. And what we what I mean by that is, unfortunately we're going back to the Carter era of stagflation and what that is, we do a lot of young people have never experienced in the United States. Thankfully, it's something we haven't seen in this country since the late 19 seventies. But stagflation is a combination of slowing economic growth stagnation side of it combined with inflation, with fast rising prices generally In the principles of economics when prices are rising because the economy is hot, and the economy is overheating. That's generally when you're supposed to get inflation. But in the case of stagflation, you have rising prices with a decelerating economy. And I submit that, unfortunately, that's exactly what we have right now. I think the data backs my view. Just last Friday, we gotta nonfarm payroll report the monthly jobs report. Out of the bureau, labor statistics, and it was a miserable miss. We added 235,000 jobs, economists and Wall Street experts were expecting a half million more than that they were looking for above. 700,000 had a jobs instead, we got a paltry 235,000 new jobs added At the same time we're seeing inflation rates are the highest they have been literally in decades. The producer Price index is the highest it has ever been. Consumer Price Index, which is what most of your audience cares the most about what they're paying at the grocery store at the pump at the store. That is at 5.4% on an annualized rate. That's the highest level since 2000 and eight So unfortunately, Biden has very quickly only months into office, taking what was a robust economic recovery and he has turned it into a situation of stagflation. Uh, very much reminiscent of the 19 seventies. I can easily see it with the statistics. You just You just mentioned now, the one thing that and I'm just being devil's advocate here, Steve Cortes that that you're hearing from the administration, and it reminds me a little bit about Henry Ford's attitude during the Depression. Well, we just need to get back to work. But the, uh the Biden administrations excuses the pandemic. Nobody wants to go back to work. Right, Well, the other the other most popular phrase right now in Washington, D C is that it's transitory, right? We keep hearing that from everybody from fed Chairman Powell to politicians on Capitol Hill to Biden himself that this is transitory. Well, I do not believe it's transitory. And, you know, I hope I said that was some authority before I got into politics and media. This was my world inflation and bonds and interest rates. I traded bonds on Wall Street for 25 years. For big institutional fund managers. And so I have watched inflation like a hawk for a very long time. And basically, quite frankly, never saw it really during or not significant ways during most of my Wall Street career, But we're sure seeing it right now, in structural ways, not transitory ways and regarding the pandemic. You know, that is a lame excuse. It's a red herring. And here's why, before Biden took office what we saw, for example, in the 3rd and 4th quarter of last year of 2020 when Trump was still president. As we saw a really stellar economic recovery off of the spring lockdown lows, but with incredibly restrained inflation. Yeah, I mentioned that CP at 5.4%. CP was under 2% last year with a strong economic recovery. You know, off of the lockdown low, So Trump showed us that we can do it. We can have, for example, huge wage acceleration like we had in 2019 before the CCP virus. And we can do it with low inflation so that these wage gains are real, so that if you're getting a raise, it truly is a ray. It truly is increasing your buying power what we've seen now under Joe Biden, seven months straight the first seven.
The Larry Elder Show
"bureau labor statistics" Discussed on The Larry Elder Show
"The. I mean. we're seeing the left in in in in full effect and all of their wonder. Just let naked before us. I don't care if it's the economy. The borders everything everything. The left projects about us. They say we're weak on this. We're we're racist the. Crt you critical race. Theory or c. or p. is in crap right here on the larry elder show but all of this stuff all of this stuff. People are starting to see billy. People are starting to wake up. And it's not just gonna be independence. Democrats are waking up. I've heard from some to be frank with you. Democrats are waking up. But we do have to get this This election integrity stuff in order. I mean there's there's no there's no doubt about it. We have to make sure that our election system is in good order. The point is this goes on to say. This is chuck todd These are the only voters in america. That are actually moved by public events. What's happening in the administration this group of independence. That's who's going to decide who's in charge of our politics for the next couple of years. Now i do agree in the sense. That independence do swing one way or the other This is why affected communicating is very important extremely important in the game of politics. But i also believe that. The republican party has an opportunity to siphon off the base. You talk about the things that matter. You talk about the things that hit home. Larryelder talks about homelessness. He talks about the water issues. The fire issues. The housing issues in california the cost of housing that that impacts everybody republicans have to know their audience. And and and then they'll they'll be effective. Let's go to some of your calls. We have david in monterey california. David you've got the mike thanks I'm surprised no one else is talking about this. But it's a well known fact from many sources that a decade ago. Barack obama and joe biden gave our cova nineteen virus to china to develop and we pay the money to develop it. So shouldn't they be on trial for one of the biggest crimes against humanity. You mean as in you mean as in fallacy with the whole gain of function and all it is. Is that what you're speaking of specifically well. Well you know biden newsom and all these people that are all part of the world order that are taken over america and if they did give china the virus and they did. It was for nefarious purposes. Stabilize us yet. Here's the is molly. Go ahead david. Finish up david. I'm here can you hear me. Yeah yeah go ahead and finish. Yes i can. David go ahead and finish your point. Okay well it takes. It takes a lot for america to swallow it. I'm going to say. But the ultimate justice is to uncover this nest of road order people resulting in a biden obama and other well at least those to stand up against the wall and blindfold shot by a firing squad for being traders david. Listen let me. I appreciate the call. Here's the deal. Here's the deal. I think that rampaul was on the right track going after fascist ouchi. I'll tell you why this. This is the issue that i have explained this time and again this is the issue that i have with these growing bureaucracies whether i don't care if it's the department of education the nih the cdc you notice what the biden administration and what the democrats are trying to do. They're trying to relinquish congressional power to some of these bureaucracies and then they have all these social justice warriors that are in the these bureaucracies that can ultimately run. they can ultimately run an administrator state. So they make you the voter weaker and the government bigger That is one other goals. As far as i do. Believe that faouzi. I'll say this. I do believe that foul she should be in jail in. Voucher should be improved. should be purple because there's emails to prove it As far as a as vitamin and obama giving the the the the virus to china we know that faouzi did it under underhandedly. I'm not sure quite frankly. I'm not. I'm not sure how much the Obama biden administration knew at the time. Just like fouts was doing some of this stuff under trump and he tried to cover his his behind so i do agree that fallacy should be perp walked for sure. There's absolutely no doubt about that. Are you guys aware. Are you guys aware that the nine worst unemployment rates in the country are in areas. Run by democrats. I know you're saying like no dot carl but it's But it's true. I wanna talk about that. The worst unemployment rates in the country are in states in areas. That are run by pro lockdown democrats this according to new data from the us bureau labor statistics the highest unemployment rates in july. Were in blue states and this is despite the flow of federal covert nineteen bailout for the last year and a half. You guys know why that would be right. So what if you get a bunch of bailout money and so what if you pay it out. If a bunch of people are sitting on their bones and they're not out there spending the money enjoying life and all that kind of stuff i. It doesn't matter it's going to be in. The the impact will be insignificant when people are out living their lives spending money. You know enjoying life. You're going to have a better economy. That's what's happening in.
Further Together the ORAU Podcast
"bureau labor statistics" Discussed on Further Together the ORAU Podcast
"I think the team did an amazing job keeping things as together as possible. I wanted to circle back. Just minute block about our our kind of our data. Our numbers what we're seeing between comparing. Why nineteen twenty. And while overall our efforts numbers looked pretty strong compared to nineteen with thanks to a lot of great melt from the k. Twelve group and engaging lots of teachers compared to why nineteen here. All kinds of amazing resources But you know this is a five one knockabout and that word is perhaps us but my concern is a labor economist is really the pipeline that we're building and When i look at the data comparing up why nineteen is money. The thing that makes me a little sad is that clearly. The undergraduates and their experiences were the ones that that took hits You know. I'm looking at about a forty percent reduction between f. Why nineteen twenty undergraduate appointments And just thank that. Those are typically short term summer appointments. We know that summer was really the heat of pandemic or at least we thought at that time would be that most fruitful time in some chose not to make those some ditches to make them virtually laban. Obviously our numbers were down. So i think we'll have to work hard to make up you know. We're just a small portion of the pipeline. Line rudenstine workforce but we're certainly of worship hotline. And if we're not able to keep those undergrads engaged in stem and keep them republicans on Learning experiences that we know impact decisions continue on into stem work force. You know i think there will be consequences of a blip In the future. We'll see as a result of this. We're not surprised by that. We know this is going to affect us for many years. Unique aspects that there will continue on so When i see a forty percent reduction in undergrads about twenty five percent reduction are graduate appointments against some of those appointments. That didn't happen Concerns i'm looking at Right now looking at source language off the your labor statistics website that just talks about their occupational projections and what occupation will be strong. They give tenure projections every year And they basically have a statement that says you know. These productions are meant to capture structural changes in our economy. So you know the first affect that we all will feel a have already felt as what we call the recession impeccable pan-demic but that's not really what these ten year occupational projections hatcher. They can't really structural changes in the economy. We don't even willing to that will be yet Those will be driven by consumer demand. moving forward. You know pretty much. Our economy is driven by consumers. I've goodson get developed and technology to go. He knows what consumers want. What what they need. So you know even the bureau. Labor statistic is saying we're going to have to go in and sort of reassess our models because we think there will be structural changes. Were in the process of doing that. We haven't done that yet. There'll be structural changes for him. So we're still it really in the unknown but my comment is really just about white wine and kind of do we make sure that we keep that by plying going. I think they're you know we're we're we're getting back on track that were there's lighted in seattle. I think we'll get back on track and people need to work extra hard enough. Federal sponsors naming work extra hard to make sure that that their training The folks that they need to train to builder needs the pizza..
Morning Edition
Employment bounces back in March with 196K jobs added
"The bureau labor statistics has just released its March jobs report, one of its most watched indicators last month's report was pretty disappointing. The economy added only twenty thousand jobs in February well below its have ridged gains. So without further ado, the big headline number for March is jobs added one hundred ninety six thousand and employment rate held steady three point eight percent. Those are the numbers now for. The context. Julia Coronado is the founder of macro policy perspectives. Hey, julia. Hey, good morning morning. So this looks like a pretty reassuring bounce back after February's low. Yes, this is a indication that the US economy is resilient despite some of the worries of late that we might be heading into a recession. We saw a strong particularly in service sector hiring. So it is reassuring. Okay. But tummy about wages. They were down a touch to three point two percent. Yeah. That's that's the disappointing aspect of the report we real exceleron wage growth last year, and it seems to have plateaued in recent months. So that came in on the weak side, the annual pace of wage growth, actually, slow three point two percent from three point four percent still better than where we were a year ago. But we would like to see continued acceleration there to give purchasing power to consumers, and what about manufacturing it lost a few thousand jobs, not a lot. But it was the first drop since late twenty sixteen. Yeah. And that's to be expected given to pooling in the global manufacturing that we've seen global growth has slowed led by manufacturing. The US is not going to be immune to that. So we are seeing manufacturing hiring slow and that should be a trend. That's with us for a few months, at least until we see what happens with the global