35 Burst results for "Labor Force"

Market Whiplash As Jobs Report Undermines Powells Less Hawkish Speech

The Breakdown

02:32 min | 1 d ago

Market Whiplash As Jobs Report Undermines Powells Less Hawkish Speech

"We are going to check in on some of the macro topics that all of the shenanigans and crypto world have forced us to not cover during the week. And where I'd like to start is with Jerome Powell's remarks on Wednesday, which were the second most anticipated comments of the day after Sam's New York Times conversation. So Federal Reserve chair Jerome Powell spoke at the brookings institution on Wednesday, ostensibly to discuss the labor market, but also to clarify the path forward for fed policy. Some commentators were of the opinion that the fed chair would use the speaking engagement to talk markets down. This is something that we've been talking about all year. This microcycle where markets start to get ahead of themselves, the fed deploys a bunch of speakers to say, hey, chill out. Sometimes using Powell himself, and then yes, markets chill out. One of the most notable examples of this was the infamously hawkish Jackson hole speech in August, which cut short a relief rally in equities in just 8 minutes. What we got instead from Powell was much more moderate, largely seen as firming up the likelihood of a smaller 50 basis point rate hike at the December FOMC meeting. The focus shifted to the anticipated higher for longer rates policy with Powell saying, quote, the time for moderating the pace of rate increases may come as soon as the December meeting, given our progress in tightening policy, the timing of that moderation is far less significant than the questions of how much further we will need to raise rates to control inflation and the length of time it will be necessary to hold policy out of restrictive level. End quote. Now despite appearing to give his blessing to slowing rate hikes, Powell also expressed the need for more data before declaring victory in the fight against inflation. He said, quote, it will take substantially more evidence to give comfort that inflation is actually declining. The truth is that the path ahead for inflation remains highly uncertain. In response to a question from a JPMorgan economist about whether he would take a shock and awe approach to rate hikes, Powell said quote, I think we are in a position where the right thing to do is move really quickly as we have and now slow down and get to that place where we think we need to be. And by the way, there's high uncertainty around that. Now, turning to the main topic of the speech the labor market, chairman Powell fleshed out his view on the cause of tightness in the labor market, and the gap in the participation rate. He said quote, these excess retirements might now account for more than 2 million of the three and a half million shortfall in the labor force. Pal said that the labor market is only showing quote unquote tentative signs of what he called quote unquote rebalancing, stating that to be clear, strong wage growth is a good thing. But for wage growth to be sustainable, it needs to be consistent with 2% inflation.

Jerome Powell Powell FED New York Times Fomc SAM Jackson Chairman Powell Jpmorgan PAL
Matt Palumbo: Liberals Exploit Crises to Their Advantage

The Dan Bongino Show

01:58 min | Last week

Matt Palumbo: Liberals Exploit Crises to Their Advantage

"You know this whole great reset crowd The Klaus schwabs of the world are these globalist crowd They all have the same agenda It's not complicated They want totalitarian top down government Shut up and take your vaccine and we'll tell you where to go to work and when and shut your pie hole crap These crisis every time you see a crisis financial Like you said the George Floyd riots They're always there to take advantage of it And every single solution involves the exact same thing More government more mandates and that's why you don't see any of them speaking out about the riots in the protests in China right now Oh it's amazing the extent to which you'll use literally any crisis to justify any policy goal I mean the most recent example was with Chuck Schumer where you know we're in a situation where we appear on paper and have a low unemployment rate but it's really just because the labor force is so small that it looks that way And I think something like one third of America is out of work And instead of boosting participation rates Chuck Schumer goes well this is why we need to naturalize at least 11 million illegal aliens Now obviously that's the most insane perspective where when you have a tight labor market you want to see wages rise in that kind of thing But it's always used for the liberal agenda And yeah these people don't actually profess any of the beliefs They claim to you I mean you're using the example of their opposition to big money Obviously not when it's in their favor And I mean so I guess be it another point to the ground they profess things like diversity and we need more women candidates more minority candidates And obviously they're not supporting Sarah Palin or anyone like that So yeah it's all for talk And I think we all kind of know that none of their values are really the professed values early real It's just sort of tools to get power We see this actually a lot with the campaign against Elon Musk's advertisers where they claim you know we're against misinformation and harmful misinformation And I mean I can't think of anyone who spreads more misinformation in the left And that's actually what Twitter was sort of known for before Musk take over was amplifying complete nonsense liberal narratives without any fact checking whatsoever

Klaus Schwabs George Floyd Chuck Schumer China America Sarah Palin Elon Musk Musk Twitter
Peter Doocy: How Can the Economy Be 'Strong' With a Recession?

Mark Levin

00:59 min | Last month

Peter Doocy: How Can the Economy Be 'Strong' With a Recession?

"More Peter doocy cuts 6 go So he said he's been working on the economy every day for 19 months Now Bloomberg economists are forecasting a 100% chance of a recession So how is it that we can be barreling towards a recession And the economy is as the president says strong as hell So here's the thing about the economy and I've said this many times You've heard this from secretary Of course Yes what did you say many times Go ahead These who runs our economic council is that what we are seeing right now is the job market is strong The labor force is strong And that is not the people have dropped out of the labor force That's part of the problem too It's one of the lowest levels in modern times So we're talking about unemployment among those who are in the labor force still looking for jobs but there's a lot of people who've dropped down

Peter Doocy Labor Force
Alfredo Ortiz: An Eight-Point Plan to Support Small Businesses

Mike Gallagher Podcast

01:16 min | Last month

Alfredo Ortiz: An Eight-Point Plan to Support Small Businesses

"How's the tour been going and tell us about the plan? Yeah, the program's going great, Mike. I mean, you know, we've got a tremendous amount of support from all over the country in D.C.. We have some of the most important leaders really on the Republican side, really supporting. And remember that this is basically an 8 point plan. It's an 8 point agenda for Republicans once they take Congress over, which I believe will actually definitely happen in November. You know, it basically lays out what really can be done in terms of common sense actions for small business owners across the country. As you know, especially during COVID and post COVID, small business owners across the board have been pummeled, and now with inflation, supply chain issues, labor force issues. I mean, you name it. Small business owners across the country are being hammered. Our own internal small business IQ poll says that almost 60 percent of businesses are worried that they might not be able to make it another year. It might have to close their doors. This is a horrific number of Mike, if you think about it because two thirds of new job growth is in the hands of small business. 50% of our labor force is basically in the hands of small businesses. So we have to make sure that our small businesses in this country not only survive but thrive if we want our economy to get back on track.

Mike D.C. Congress
Inflation Continues to Shake Economic Outlook

The Hugh Hewitt Show: Highly Concentrated

01:32 min | Last month

Inflation Continues to Shake Economic Outlook

"Inflation darkens global economic outlook. Rising borrowing costs and constrained energy supplies, heightened chances for recession next year. Look, we're in a recession right now. We're an economist look back. They're going to look at the first quarter of GDP negative growth was the second quarter in the United States, third quarter negative GDP growth, fourth quarter negative GDP growth, and just because we have an artificially low labor force participation, they're not calling it yet. Look, I'm calling it your feeling it. The general continues policymakers around the world see rising risks at the global economic slowdown could turn into a steeper slump due to strong inflation, high energy cost, and a climbing interest rate level. Another bad U.S. inflation report last week likely to keep the fed reserve lifting interest rates at a rapid clip that could spur the U.S. dollar higher further elevating the cost of imports debt service for money countries. For many countries, key energy producers are crimping supply, feeding price pressures and slowing economic activity, particularly in Europe, new data from China showed consumer spending, falling sharply. They are there in a real chaotic situation. We'll come to in just a second. But it's a rough way. It's going to be rough until we get a Republican Congress in installed in January, but you got to get out there and close the gap 30 days left in the election actually less than 30 days left in the election. More like 27 days left in the election. So get out there and do some work.

U.S. FED Europe China Congress
US applications for jobless benefits increased last week

AP News Radio

00:44 sec | 2 months ago

US applications for jobless benefits increased last week

"The number of Americans filing for unemployment benefits rose last week I'm Ben Thomas with the latest numbers The Labor Department says jobless claims rose by 29,000 to 219,000 while the four week moving average inched up to just over 206,000 The total number of Americans collecting unemployment aid rose to 1.36 million Despite the rising numbers however the labor market remains strong even in the face of persistent inflation and a slowing overall U.S. economy The Federal Reserve takes labor force data into consideration when making policy decisions It's been raising interest rates hoping to slow borrowing and spending to push inflation closer to its 2% target The government's September jobs report is due tomorrow Ben Thomas Washington

Ben Thomas Labor Department Federal Reserve U.S. Government Ben Thomas Washington
Job Creators Network's Alfredo Ortiz Describes His New Business Plan

The Charlie Kirk Show

02:08 min | 2 months ago

Job Creators Network's Alfredo Ortiz Describes His New Business Plan

"Us right now is Alfredo Ortiz, who is the mastermind and the driving force behind job creators network. Alfredo, welcome to the program. Hey, Charlie. Great to see you. Excited to be on the program. First time. Yeah, thank you. So Alfredo, tell us about your new plan. The American small business prosperity plan. Yeah, absolutely, Charlie. Well, your intro was right on though. I mean, small businesses in this country are the heartbeat of our communities or the heartbeat of our country. And without small businesses, we have no country. I mean, when you think about 30 million small business owners out there complain about 60 million people. So you're talking to pool about 90 million hardworking Americans that are really dependent on the success or failure of small business. And frankly, you know, this administration has done absolutely nothing to try to help them. In fact, has done everything possible to try to hurt them. We actually call it the war on small business Charlie, because that's exactly what they did from day one. And in terms of if you look at what the policies of the Biden administration have done in terms of inflation, you know, we're now in the middle of a recession. You've got the labor force issues, supply chain issues. Everything has been hurting our small businesses and really there's no relief in sight coming from this administration. And that's why I try to put together this 8 point plan working with Newt Gingrich on its release last week. And so we're really excited about the support that we've gotten. I'm going to just list out the quick 8 points because we try to keep it as simple as we could, Charlie. So that folks could actually focus and understand what we're trying to do. The first one, though, the most important one is really to make the tax cuts permanent from the tax and jobs act, especially when it comes to the small business provisions that were included in there. The second one is to really launch and unleash domestic energy production again. Charlie, you and I have both been talking about this since day one administration, but every single thing that's bad right now, we can trace all the way back to that fateful day. The first day of this administration, when he launched basically his attack on domestic energy production, and all the inflation, supply chain issues, everything we're seeing really comes back to that day. So

Charlie Alfredo Ortiz Alfredo Biden Administration Newt Gingrich United States
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:57 min | 3 months ago

"labor force" Discussed on Bloomberg Radio New York

"This is balance of power on Bloomberg TV and radio. I'm Joe Matthew and for David Weston. Labor secretary Marty Walsh says he is confident that demand for workers is strong enough to withstand the Federal Reserve's attempts to cool the economy. He talked about it earlier today on Bloomberg. Here's what he had to say. But when you look at the job openings in America right now, I think we're going to be consistently strong as we move forward here. I think we're going to continue to people be going back to work having the unemployment having the labor participation rate getting bigger. I think that's important. I think what's going to reduce the inflation is obviously the inflation reduction act will help us on that. The gas prices continue to come down. We'll help us on that. And then I think the biggest unknown is going to be what's happening with Russia and Ukraine. This is what chairman Powell said last week. He said, higher interest rates, slower growth and a softer labor market condition will bring down inflation. They will also bring some pain to households and businesses. He said there's a failure to restore price stability would mean far greater pain. You say you disagree with that secondary Walsh. No, you know, I think that the chairman certainly has a lot more knowledge on this than I do, but what my concern is, what I don't want to see is people being laid off. I want to see continuously people go back to work, people being able to earn good wages. I think that overall, and again, we're at a very interesting time when it comes to our economy. Nothing that's been predicted or no indicators that we've talked about in the last two years is like any other time in the history of our country. So I think that as we think about inflation coming down, there's lots of reasons for why inflation went up. And it's not the same old pressures of the past. U.S. labor secretary Marty Walsh speaking earlier today on Bloomberg from the Labor Department, August jobs numbers out today as we have been reporting payrolls up more than expected. 315,000 in August, the jobless rate also a surprise. It went up unexpectedly to 3.7%. As the participation rate climbed, this is of course seen as good news with more people entering the job market more people looking for work. Let's get some more context in a deep dive with Brian deese national economic council director. He has the ear of the president on all things economic and Brian. It's great to have you back. I know your job is to tell me that the president's policies are working. And this is a good news report for the administration. But I wonder about this inflation argument, Brian. If we're going to beat inflation, does the job market have to weaken? Well, it's great to be here. And I think that one of the things you highlighted about this report is important in answering that question, which is in particular the moves that we saw around the labor force. One of the things that we want to see economically, all of us want to see is more people getting into the labor market. Obviously getting jobs, but also looking for jobs as well. So what we saw today obviously the headline 315,000 jobs that's solid. But we also saw the largest increase in the labor force participation rate this year. And that puts labor force participation for prime age workers back near the historic highs for the last decade, close to where it was right before the pandemic hit. We saw, for example, that women's labor force participation working for working age women actually exceeded pre-pandemic levels. That is the kind of labor market progress that we want to see to try to demonstrate that we can actually bring prices down in this economy without having to give up all of the economic gains that we've made. So I guess what I would say is this report not only in the headline, but underneath is quite encouraging in terms of the transition that we want to see. Do we have a sense of what is bringing people back to the job market. This has been a question mark since COVID essentially, as you see participation rise, is it inflation? That's causing more people to look for work? Yeah, I think it's a great question. And obviously, I think it's a variety of different factors. I think first and foremost, it's the strength of the labor market. The job openings that are out there mean that people have more opportunities than they have in recent memory to take jobs and jobs that better fit their skill profile, give them more opportunities in the labor market. That's something that pulls people in. But I think there's other things as well. The decline in gas prices we've seen over the summer makes as we go into the fall, the fall commuting season post summer commuting season makes a commuting a little bit easier. And I also think that progress that we've seen on COVID. I don't think we should underestimate the degree to which we're going into a school year that is the first stable school year. And obviously COVID is still with us and we have to still remain focused. But parents and families that are trying to sort out their lives have a bit more stability now, given that schools are open and certainly we expect that to continue to be the case. So I think all of those things are factoring in. You mentioned gas prices, Brian, down about 80 days, I believe, straight. It's been quite a trend here. Can you tell our listeners and viewers confidently that gas prices have peaked? All right, look, the world's an uncertain place. And so what I can tell you is that gas prices have fallen for 80

Marty Walsh Bloomberg TV Joe Matthew David Weston chairman Powell Brian deese America Bloomberg Federal Reserve Brian national economic council Labor Department Walsh Ukraine Russia
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:27 min | 6 months ago

"labor force" Discussed on Bloomberg Radio New York

"We appreciate it Good stuff there We are looking at this market continuing to sell off here but I wanted to get back to the jobs Again I think it was pretty good I'm sticking with it was pretty good and maybe even better than pretty good but let's talk to somebody who does this stuff for a living Julia Pollock chief economist for zip recruiter Julia a give us your take on the jobs number today and then B maybe even more importantly what you're seeing in your business at zip recruiter This was a most encouraging report like the Goldilocks of jobs reports just great Broad gains huge gains I mean the 12 month average job gain now the net growth in jobs each month has been 545,000 That is huge It is three times the average job gain in 2018 and 2019 So big big big numbers broad growth across the economy And then exactly what the fed wants to see The boil coming off wage growth a little bit Slight cooling there Yeah I was going to ask where does this put us on sort of the soft landing narrative when it comes to the economy and the fed So in 2018 and 2019 we saw that we could get rapid wage growth and rapid job growth and real wage growth without inflation And what we and the reason we could was because labor force participation was going up What we want to see now is labor force participation rising and recovering And that's what this report shows is happening We got a good solid recovery among prime age workers and among workers over the age of 55 Labor force preservation is fully recovered among teens and among prime age workers almost and it's still down 3.5 percentage points among older workers but it is trending in the right direction Some of those workers are un retiring and coming back And then of course immigration is finally resuming as well This has been a huge backlog of legal immigrants waiting for their visas Staffing agencies that specialize in finding nurses from abroad for example have long long long lists of candidates who are lined up in the mode are waiting to come in waiting for those documents and finally we're seeing that pick up as well So the labor constraints that have been holding back job growth and that have been fueling this massive wage growth and possibly inflationary wage growth looks like it is easing We're seeing labels registration recovering that is really great news for employers It's also good news for the fed Yeah I agree The numbers look pretty solid to me We're starting to see a couple companies most notably today Tesla talking about maybe laying off some people pausing hiring We're hearing that from some other tech companies What do you make from that I mean you guys had zip recruiter You are absolutely on the front lines of day to day hiring What do you make of some of those new stories Well this is what's so interesting So everywhere reads about tech layoffs Yet job postings overall of growth and the growing fastest in the tech center So tech and IT jobs are soaring in our marketplace And what you hear right now is the sound of talent acquisition teams and HR departments rapidly looking up workers at Tesla on LinkedIn and reaching out to them to recruit them So anytime a tech worker is laid off there are lots and lots and lots of other companies not just in the tech sector In retail and government departments all over the place everyone now needs to collect and store and analyze data Everyone has a website everyone has an app There are tech jobs throughout the economy demand for those workers and those skills is white hot and it remains so But just sort of following up on the point that Paul reis that we did just this week I feel like just a barrage of news when you think about Tesla today but you also had Gemini and coinbase yesterday A lot of this is concentrated in the crypto as a tech industry It seems like but do you think that I mean that is some sort of I don't know foreshadowing of what's to come with the labor market being that it is so hot I mean we've heard from Powell himself that the unemployment rate is probably unsustainably low right now So the unemployment rate will probably trend even lower for a while Economic models show that if you were to bring inflation all the way down to 2% right now yes that would require pushing unemployment all the way to 6% So that's what's in the back of people's minds That the fed has said it's going to cut inflation and what does that mean That would mean cooling demand somewhat Unless labor force participation recovers really rapidly and supply chain issues ease and all of these other sort of unforeseen factors that have contributed to this crisis kind of magically miraculously subside So I think that's what everyone's hoping that the sort of idiosyncratic issues that led to massive oil price spikes and food price spikes Some of those will ease in the coming months And then that labor force participation recovering will sort of cool the pressures in leisure and hospitality and warehousing and transportation And service sector So on that labor force participation rate about 30 seconds left It's 62.3% where would you like to see that I mean I'd like to see that go all the way back up to where it was before And higher What we saw now And where is that 4% I believe And we could actually what we saw amazingly in 2018 2019 was that in additions were right for people to find work more people entered the market And so we know that there is actually more fuel in the tank in the slave market Right good stuff All right Julia thank you so much for joining us love getting your perspective there Julia Pollock chief economist at zip recruiter and I think when I talk to my kids are in their 20s zip recruiters like a big go to in addition to Lincoln they talk about zip recruiter all the time They also have a full push on advertising I feel like I hear them a lot on podcasts All right it's good stuff Again as Julia was mentioning a solid solid number pretty much across the board better than expected non farm payrolls average hourly earnings.

Julia Pollock Labor force preservation Tesla fed Julia Paul reis zip un LinkedIn Powell Lincoln
Andy Posner: Nominal Wage Increases Aren't Helping Rising Costs

The Dan Bongino Show

01:52 min | 7 months ago

Andy Posner: Nominal Wage Increases Aren't Helping Rising Costs

"But on the other front there's not much else Andy going in a great direction here We've got the producer price index exploding you know producers and wholesalers paying more for inputs before they produce outputs You've got labor for labor force participation going down And most devastating of all something you've commented on I follow you on social media Is the decreasing power of your earnings Andy you might be getting a nominal raise in your paycheck but your paycheck ain't going as far anymore as it was in the Trump administration No not at all A simple way to think about it is if inflation is 8% so if you had a $100 there it's worth $8 less you're now down to $92 but you got a 5% raise so you go up to $97 Well you're still $3 short So for Biden to be out there talking about how their wages are increasing What he's talking about is nominal wages which is the number on your paycheck which everybody loves to see that get bigger But the problem is if you go to the gas station or you go to the grocery store all of a sudden you realize that even though the number was bigger you're able to buy less And that's really what we're experiencing in America right now And by the way you mentioned the unemployment rate going down Which is good But the unemployment rate will go down automatically if labor participation decreases Nobody has to get shot If there's fewer people in the labor force unemployment will go down We're still not even where we were on the number of jobs We're not where we're going into the pandemic There are still fewer jobs than when the pandemic started So this administration is truly a failure in every respect economically And just about every other respect but we're talking about the economy so limited to that

Trump Administration Andy Biden America
Sen. Tim Scott Responds to Janet Yellen's Pro-Abortion Comments

Mark Levin

01:55 min | 7 months ago

Sen. Tim Scott Responds to Janet Yellen's Pro-Abortion Comments

"And here is his response cut to go Some of your comments in response to bob's question I found troubling And just from a clarity's sake did you say that ending the life of a child is good for the labor force participation rate Giving someone the let me just quote what you said that ultimately increasing access to abortion and reproductive healthcare allows for our labor force participation rate to continue to increase that denying women access to abortion increases their odds of living in poverty or need for public assistance to the guy who was raised by a single mom who worked long hours to keep us out of poverty I think people can disagree on the issue of being pro life or pro abortion but in the end I think framing it in the context of labor force participation is it just feels calloused to me I think finding a way to have a debate around abortion in a meaning for the economic stability of our country is harsh and I'm just surprised that we find ways to weave into every facet of our lives Such an important and painful reality for so many people to make it sound like it's just another .4% added to our labor force participation as a result of the issue of abortion just to me seems

BOB
Janet Yellen: Roe v. Wade Reversal Would Damage the Economy

Mark Levin

00:41 sec | 7 months ago

Janet Yellen: Roe v. Wade Reversal Would Damage the Economy

"Janet Yellen cut one go Well I believe that eliminating the right of women to make decisions about when and whether to have children would have very damaging effects on the economy and would set women back decades Roe V wade and access to reproductive healthcare including abortion helped lead to increased labor force participation It enabled many women to finish school that increased their earning potential it allowed women to plan and balance their families and careers

Janet Yellen Roe V Wade
Yellen Says Eliminating Abortion Rights Would Harm Economy

The Hugh Hewitt Show: Highly Concentrated

01:44 min | 7 months ago

Yellen Says Eliminating Abortion Rights Would Harm Economy

"Roe V wade reversal would be very damaging the economy says Janet Yellen. I believe I've got that clip somewhere. Let me see where I can cut number 26th place. This is absurd. Certainly don't mean to. Say what I think the effects are in a manner that's harsh. What we're talking about is whether or not women will have the ability to regulate their reproductive. Situation in ways that will enable them to plan lives that are fulfilling and satisfying for them. And one aspect of the satisfying life is being able to feel that you have the financial resources to raise a child that the children you bring into the world are wanted and that you have the ability to take care of them in many cases, abortions are of teenage women, particularly low income and often black who aren't in a position to be able to care for children have unexpected pregnancies and it deprives them of the ability often to continue their education to later participate in the workforce. So there is a spillover into labor force participation, but it means that children will grow up in poverty and do worse themselves. Thank you. Let me just say that. The children will grow up is the operative phrase there, and that's

Roe V Wade Janet Yellen
Prices Are Not Going Back to Where They Were - We Are IN a Recession!

The Charlie Kirk Show

01:52 min | 7 months ago

Prices Are Not Going Back to Where They Were - We Are IN a Recession!

"Santelli, prices are not going back to where they were. Play cut 66. But prices are not. And I underscore our not going back to where they were. You'd need months and months of months of minus signs on year over year, a month over month, CPI and PPI. Don't think you're going to get months and months of those. Cut 68 CNBC panelists. I'm concerned about the decline in the labor force participation right. People ask me, do you think a recession is coming? I think we're in a recession. Right now. Like that 68. I am concerned about the declining participation rate and we should have read too much into one month's report. But this is part of the reason we've been seeing pressures on wages. So for president dropping out, again, I think the pressure on wages could continue, so I think there are some signs there of concern. It's maybe the quiet before the storm. Economic adviser for Joe Biden was asked about this about, do you think we're heading towards a recession while we can't rule anything out? What a ridiculous question. We're heading into a session. We are in a recession right now. Play cut 61. Americans, they don't feel good about it, right? You're looking at your feelings. They don't feel good about it. Can you tell the American people that we're not headed for a recession? I can tell the American people that we are much better positioned when it comes to that recession question than pretty much any other advanced economy I've seen. But probably more importantly. So you can't rule it out. Hold on. You can never rule anything out. So that's not really a relevant question. You can never rule anything out. Okay, got it. And who are they blaming? Well, thankfully, the American people are blaming Joe Biden. The economy, inflation created by our response to COVID. We did this. Did not happen

Santelli Cnbc Joe Biden Covid
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:34 min | 7 months ago

"labor force" Discussed on Bloomberg Radio New York

"Back into those jobs And I think that is an ongoing process Well it was pretty easy relatively to turn the economy off It's of course been much more challenging for every business in America to get back up and running and people to all get back into those jobs and get their care schooling and everything all sorted out so they had a place for their children So I think we continue to see progress in that direction though One of the things that we watch closely and I'm sure you do as well as the labor participation rate and that does not seem to be coming back to pre-pandemic levels But what causes that and what can be done about it Well so let's be clear We've actually seen a sharp uptick in the labor force participation rate over the past year We've seen it grow at a pace faster than at any point since the mid 1980s among prime age workers those workers 25 to 54 years old So we did see a downtick last month But there's a lot of volatility in that number so we don't make too much of a one month trend But we've seen people coming back into the league before us We've also now started to see indications that many of those folks that took retirement or maybe early retirement during the pandemic We're starting to see indications that those folks are coming back in But one of the challenges remains that we have a lower level of immigration in the United States than we had pre-pandemic for a variety of reasons And that is hindering in some sense the larger labor supply issues What about some of the cross tabs or the subgroups here What about people of color Black workers And Hispanic workers and women How are they faring We saw some volatility in what we call the household survey Well we did see.

United States
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:39 min | 7 months ago

"labor force" Discussed on Bloomberg Radio New York

"Off It's of course been much more challenging for every business in America to get back up and running and people to all get back into those jobs and get their care schooling and everything all sorted out so they had a place for their children So I think we continue to see progress in that direction now One of the things that we watch closely and I'm sure you do as well as the labor participation rate and that does not seem to be coming back to pre-pandemic levels But what causes that and what can be done about it Well so let's be clear We've actually seen a sharp uptick in the labor force participation rate over the past year We've seen it grow at a pace faster than at any point since the mid 1980s among primary workers those workers 25 to 54 years old So we did see a downtick last month But there's a lot of volatility in that number so we don't make too much of a one month trend But we've seen people coming back into the league before us We've also now started to see indications that many of those folks that took retirement or maybe early retirement during the pandemic We're starting to see indications that those folks are coming back in But one of the challenges remains that we have a lower level of immigration in the United States than we had pre-pandemic for a variety of reasons And that is hindering in some sense the larger labor supply issues What about some of the cross tabs or the subgroups here What about people of color black workers And Hispanic workers and women How are they faring We saw some volatility in what we call the household survey While we did see the unemployment rate for black women and Hispanic women fall which is good to see it wasn't statistically significant So again we don't make too much of a one month trend But overall we continue to see things.

United States
"labor force" Discussed on Squawk Pod

Squawk Pod

02:48 min | 7 months ago

"labor force" Discussed on Squawk Pod

"You're listening to squawk pod. Here's Andrew Ross Sorkin. Welcome back to squawk, some other news beyond what's happening in the markets right now. Spotify CEO Daniel, tweeting a message announcing that he's going to be investing $50 million in the music streaming company. Saying quote, I've always been vocal about my strong belief in Spotify and what we are building, so I'm putting that belief into action this week by investing $50 million in spot using the stock ticker there. I believe our best days are ahead, ex said in that tweet. Now, the announcement coming at a time when, of course, tech companies are out of favor with Wall Street Spotify shares down 55% over the past year. And this goes to the question, how are these companies on sale guys? And Danielle seems to be suggesting so I don't know if his investment unto itself is going to turn things around just given the macro factors that seem to be all of these stocks. Look, when insiders start buying, you wonder, what do they know that we don't? They're not always right, but it's good to follow the insider selling and buying on those things. At least he's got some confidence there. And if you want to invest alongside the CEO, that gives you a little bit of a better idea. And he's a lot of holders. So if you plan to hold the stock for a while, I'm hoping with all this stuff you'll be a winner if you're long enough. I always feel like this is better. The insider buying and selling is always better than the stock buybacks because what the stock buybacks they're playing with monopoly money. House money. When it's them putting up their own cash, you can maybe look at it with a little more conviction. Not that they're always right. It's not monopoly money. That's it for squawk pod for this Friday and for the week, thanks for listening. Squawk box is hosted by Joe kernan, Becky quick and Andrew Ross Sorkin. Tune in weekday mornings on CNBC at 6 eastern, and to get the smartest takes an analysis from our TV show right into your ears, follow squawk pod, wherever you get your podcasts. We'll meet you back here on Monday, have a great weekend. Thanks, guys. Hi, I'm Tom yamas, and for me the news is so much more than a headline. It informs it inspires and it still matters. To cover it, you have to be in it. And that's what mine show is gonna do. We'll take you to the front lines of the story, where it's actually happening, with NBC News journalist on the ground from all over the world. We cover what you need to know and bring your news feed to life. In prime time and streaming live, it's your news playlist. Join me for top story, weeknights at 7 eastern on NBC News now..

CEO Daniel Andrew Ross Sorkin Spotify Danielle Joe kernan Becky quick Tom yamas CNBC NBC News
"labor force" Discussed on Squawk Pod

Squawk Pod

07:09 min | 7 months ago

"labor force" Discussed on Squawk Pod

"Much institutional capital is starting to line up to come into the place. BlackRock, Blackstone, Citadel, Apollo, all major building major crypto efforts. And so it's completely intuitive to me that there's a backstop somewhere in crypto. I said earlier in the year I thought Bitcoin would be 30,050 thousand, lots of macro headwinds and lots of adoption. I think that's still the range. We're edging towards lower end of the range. And I think that's just the setup. It's an unfortunately a painful one for most investors, right? When there's inflation, nobody makes money. At 30,000 feet, put your macro trader hat on again for a second though, which is to say, and I'm sure you're getting calls like this even in the last 24 hours. You know, what do I do? What's happening here? If you're an investor who, let's say, cares about where the market may be, call it two or three years from now, but not necessarily in the next 12 months. Let's say 12 months, you don't need the cash. But you may need the cash. In three years from now, four years from now, do you look at this and say, this is going to be one of the great buying opportunities of all time, or do you say, hold on to that cash because the buying opportunity hasn't even shown itself yet? I think you got to pick your I think you got to scale in because I think we're in the middle of creating that buying opportunity. And you've got to pick your asset class. Like crypto has been very correlated to the NASDAQ. That correlation will over time break down. So you've already seen the beta of the breakdown. NASDAQ falls 3%. Crypto doesn't fall mine, like it would have last year. So the bait has gotten closer to one than it was three. But I do think there's more pain to come. Within the next few weeks, we can be at 12,000, then it'll bounce, but maybe the final destination is something like ten and a half thousand. And what's different than O 8, different than O one, different than the COVID crises, is the cavalry isn't here, right? There is no giant injection of liquidity to create the V we are going to go down and then we're going to grind until there's a new story that shows up and then take back off again. And so it's not going to be nearly as pleasant to plunge it in by the low, right? If you did that after COVID, you looked like a hero 8 weeks later. There's not a lot of hero trades out there. And when you say grind, is this to you a Japanese grind? Meaning. The American economy has more vitality, more innovation than any economy in the history of the planet. And, you know, we continue to drive the global economy. If I look at the amount of intellectual capital that's showing up in the crypto world every day, it's awe inspiring. And so I've got no fear over our longer or medium term hold. I do have a fear in how much liquidity drove prices. And so what happens after the big collapse as you get up and down years? And they're not small years. You might have up 20% down 15%. But we all got used to this amazing ride, which was fueled by cheap money. And that story is over. What holds Bitcoin at 30,000, if that's your sort of final fault line before things get much more complicated? Yeah, yes. Listen, I just see buyers. Everywhere I go, people are getting structured to buy, right? I mentioned the four big, you know, I mean, those are the bedrock firms or four on the bedrock firms of our financial services business, right? And when they're making major efforts, which warrant happening 18 months ago, right? It just tells me clients are coming in. And we see it with institutions. We see it with sovereign wealth funds. And so Bitcoin itself provides a really unique asset and people have bought into that story. And then the blockchain or web three, like that's happening. It's not like a story. It's a reality. And so if it's NFTs or centralized finance, all of those systems are being built on every day. And I'm just seeing adoption. And so I actually feel great on a medium term basis about our business, our industry. I've been saying it nonstop. It's going to be a rough year. Hey, Mike, what was your thought? I don't know. I'm sure you saw some of the clips, if not the whole thing. Warren Buffett over the weekend. And maybe not a new comment about it, but you know, he thinks Bitcoin is going to zero. If you told me you owned all of the Bitcoin in the world, and you offered to tell me for $25, I wouldn't take it because what would I do with it? I have to sell it back to you one way or another. I mean, they've been saying people. But it isn't going to do anything. I think you might say, look, these financial firms are all getting into this space, but they also got into spacs and all sorts of other funky funky approaches to things that a lot of them didn't even believe in to begin with. They just thought there was money to be made there. You know, I'll take Stan Draco Mueller's Sharpe ratio over Warren Buffett's any day. Listen, you know, for every skeptic, I can give you 6 to ten spectacular investors that believe in Bitcoin. You know, Pete brigger, who one's running runs one of the best credit funds in history. So from credit guides to macro guys, there are a 100 million people around the world that have bought into Bitcoin as a store of value. And so I kind of think the debate ended a while ago. Abby Johnson and fidelity, Jeff y'alls and Susquehanna, and there are people that all buy into Bitcoin and so yes, you know, Charlie Munger, who's reaching the tail end of his investing career, hasn't gotten it yet. But I think the preponderance of evidence on people that do get it. And as you go younger and younger, it's not even a debate. How much of this market of the crypto market this is, do you believe is leveraged? And that that leverage was used to buy other either other crypto or NASDAQ stocks effectively. Yeah, listen, there's there was plenty of leverage in the system. Most of the Asian exchanges were built on leverage. A lot of that leverage was retail though, right? And so it's a little different than what we're seeing in the equity world where a lot of the money has been institutional. Crypto institutional money is really only over the last 18 months. But there is leverage in the system. And what you're seeing is Bitcoin and Ethereum outperforming all the other coins right now, right? People go to the safety. And so some of those other ecosystems really got blown up on leverage and that's already, you know, those are down 60, 70, 80% already. Mike, we want to thank you. We very much appreciate your perspective on all of this. As always, my friend. Thank you. Cheese will be next. Next, unsquare pod, the CEO of Spotify putting his money where his mouth is and making a big investment. The insider buying and selling is always better than the stock buybacks. But the stock buybacks, they're playing with monopoly money. More, after this..

Bitcoin BlackRock Blackstone Apollo Warren Buffett Stan Draco Mueller Pete brigger Jeff y Abby Johnson Mike Charlie Munger Susquehanna fidelity Spotify
"labor force" Discussed on Squawk Pod

Squawk Pod

06:56 min | 7 months ago

"labor force" Discussed on Squawk Pod

"Week and the real question is going to be has inflation peak. What do you make of this, neta? What's most important? So I do agree that this is a good report, but I am concerned about the decline in the participation rate. We shouldn't read too much into one month's report, but this is part of the reason we've been seeing pressures on wages. So forecasts are dropping out again, I think the pressure on wages could continue and again, the question is, where is the Fred in that? I'm a bit skeptical that the fed is going to be able to get us to a soft landing and not cause a recession given where we are with the inflation and unemployment. So I think there are some signs there of concern. It's maybe the quiet before the storm. Peloton is now exploring the sale of a sizable minority stake in effort to shore up its business. That's according to a report in The Wall Street Journal this morning that says it's targeting P firms and industry players who could take a stake of around 15 to 20% the company's market value has fallen from a high of about $50 billion early last year to about 5.5 $1 billion this week and when I talked to Barry McCarthy, the new CEO, probably what now, but 6 weeks ago, when he first got that job, he said that they may need to raise more capital. They may have to go out and do that. They're obviously trying to change the business model. We've talked about this lowering the price of the actual treadmills and the cycles and whatnot and effectively trying to amortize that over a longer and higher subscription price. So we will see, but this morning, that stock off about one and a half percent. Joe? Yeah. You got the trip. You got the treadmill, right? It's a padded. I am a crowd treadmill owner. The treadmill plus the one they don't when they don't sell or think is as safe as it should be. But they've improved it through software. So there are flat. You can see flat ones, and then you've seen the wood ways, right? That's what this is like. It is. They're on about, I think it's worth the money, Andrew. I think it's worth the money for the one way. I look at it. It's like, what? Like three times as much, but I think because that's what I'm using to have, and I'm running a lot. And my knees are questionable, but they haven't gotten worse. It's better for the knees. Talk about Boeing, which I just checked under 90 billion now. So well, a lot of things. I would have said this company is now worth more, but probably all the companies you would have said are now worth more than Boeing are now not worth more than Boeing either. But Boeing is moving at headquarters. Remember they just moved from Seattle to Chicago. Like 12 years ago, 15. Now they're going to move from Chicago to Arlington, Virginia. We all should move closer to Washington, really. I mean, if you want to get near the giant, I don't know what I'm going to call it that. But the move brings the aerospace giant leadership geographically closer to regulators and to D.C., Pentagon officials, lawmakers. It's a win, though, for governor Glen youngkin, who's been courting the plane maker another business move. So Virginia, which wins our best state to do business every year, also because of the close proximity to the giant gravy train that comes out of D.C.. Where all money is spent so effectively. I need the sarcasm bug for over you right now. Commentary, I think. Sarcastic commentary bug. How do we know? Because his mouth is moving. Exactly. Next, on squawk Todd crypto's crash in the market swoon. Galaxy digital founder and billionaire Mike novogratz on Bitcoin sell off and what's ahead. What's different than O 8? Different than a one different than the COVID crises is the cavalry isn't here, right? There is no giant injection of liquidity to create the V we are going to go down and then we're going to grind until there's a new story that shows up and then take back off again. You'll hear all that and novo's notifications. Yep, we're all still multitasking. Right after this. I'm Sarah eisen, from the open to the close. CNBC has you covered from what's driving the market moves to how investors are reacting. We'll guide you through each trading session and bring you some of the biggest names and newsmakers in the business. Be sure to follow and listen to CNBC's closing bell podcast today. This is squawk pod from CNBC. Up in Becky. Thank you. Good morning, and welcome back to squawk box right here on CNBC. We are live from the NASDAQ market site in Times Square. It's pretty dark out there today. A lot of rain. I'm Becky quick along with Joe kernan and Andrew Ross Sorkin. Bitcoin getting slammed in the sell off, suffering its worst drop since January, according to coindesk, total market value now below $700 billion. Cryptocurrencies this morning take a look at Bitcoin now at $35,824 cracking the $36,000 Mark. Joining us right now is Michael novogratz galaxy digital founder and CEO Michael, what do you think is really happening here? Let's talk about just the fundamentals and to the extent they're fundamentals. But just even the way you think this market is moving, where are the fault lines at this point? Yeah, listen, we are not going to get a soft landing. When inflation gets as high as it gets, you need to put the economy in a recession to stop inflation. You've got inflation expectations that have come a bit unhinged. I was saying recently until I can look my employees in the eye and say, you're lucky to have a job instead of saying, would you like salt and pop corner buttered pop put on the three days you guys come into work? The leverage has all of them with the employees as of the last few years. Everywhere, not just in the high end jobs like Wall Street and the crypto business, but all the way through the spectrum. Until that shifts until we see layoffs until we see not 11 million people looking for jobs, you're not going to see inflation come back. And so we're going to go through a painful stagflation process. We're in it. What you're seeing now is big liquidation. Who knows, you know, markets always ahead of the economy. And so you look at the arc fund or you look at some of the big hedge funds that are down, that often leads to liquidation. The market senses blood and goes for those positions. And so bear markets are hard to trade. You're going to see vicious bear market rallies, but the NASDAQ sell up isn't over. As long as the NASDAQ and other risk assets are selling off, crypto trades spectacularly well. The Brighton note for crypto is that I've just been on a three week conference trip where you're speaking at conferences and meeting people is it's.

Boeing Barry McCarthy galaxy digital Bitcoin governor Glen youngkin CNBC Todd crypto Mike novogratz COVID D.C. Sarah eisen The Wall Street Journal Chicago Virginia Fred fed
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:58 min | 11 months ago

"labor force" Discussed on Bloomberg Radio New York

"York City police officer is dead and another is in critical condition initial reports were two cops that died responding to a domestic violence call in Harlem this evening Manhattan borough president Mark Levine tweeted their significant misinformation about the shooting noting he's at the hospital with mayor Adams Some areas of the U.S. are starting to see COVID Akron cases go down CDC director Rochelle Walensky made that revelation Friday however she warned the surges far from over Doctor walensky also cited new evidence that COVID vaccine booster shots provide significant protection against hospitalization from the variant You can see significantly lower case and death rates among those who are boosted compared to those who are unvaccinated A notebook found with the body of Brian laundry reveals that he took responsibility for the death of Gabby patito That's according to the FBI which issued what he calls a final investigative statement I'm Brian schuck And I'm Charlie pellet At Bloomberg world headquarters This was the worst week for the U.S. stock market since the outbreak of the pandemic royal markets The S&P 500 closed below its 200 day moving average this week the S&P was down 5.7% Greg bottle is head of equity and derivative strategy at BNP Paribas So what we've seen at the start of this year is two forces act on equities One is a little bit of disappointment in some of the early reporting We've heard about Netflix The outlook from some of the banks were soggy and the second thing is the rate of the pace of change in real yields If those two things carry on the way they are it's problematic for equities We're more bullish through the back end of the year because we think they won't be NPs Gregg battle Wall Street is looking ahead to next week's fed meeting David Kelly is chief global strategist at JPMorgan asset management The classic Federal Reserve mistake is overreacting late And I think there is a risk that if they know now Titan if we have tighter fiscal policy at the same time and you've got an economy operating at full employment with very low levels of labor force growth this economy could slow down too much JPMorgan's David Kelly and at BlackRock financial management gargi chowdhury head of I shares investment strategy America says a half point hike is not in the cards I know that there was a little bit of question and a little bit of anticipation earlier in the market around a 50 basis point hike in March And that just doesn't seem like the type of action that this fed would take They've had plenty of time to prepare the market for such an outcome and they didn't do that Gargi chattery of BlackRock this week NASDAQ was down 7 and a half percent today NASDAQ down three 85 down 2.7% S&P down 84 down 1.9% the Dow down 450 down 1.3% Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie pallet This is Bloomberg.

mayor Adams Rochelle Walensky walensky Brian laundry Gabby patito Brian schuck Charlie pellet Bloomberg world headquarters Mark Levine Greg bottle U.S. Harlem Akron David Kelly CDC JPMorgan asset Manhattan classic Federal Reserve York City
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:00 min | 11 months ago

"labor force" Discussed on Bloomberg Radio New York

"2021 the president passed the American rescue plan since that time 6.4 million jobs have been added to our economy 84% of people are back to work with pre-pandemic We dropped almost three points off the unemployment number in 2021 which is the lowest since the 1940s Labor secretary Marty Walsh at George Washington University professor terrace Sinclair says there are many sound reasons why people are staying out of the workforce We still have a pandemic going on And that is definitely holding back participation both directly from concerns about the virus but also from other challenges You're trying to figure out child care situation when you don't know when you're a child might test positive for the virus You have to care for others in your household in other ways That's also an additional constraint on labor force participation Tara Sinclair of gws stocks lower the S&P down 19 down four tenths losing weak the Dow dropped four points NASDAQ down 145 down 1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie pellet this is Bloomberg I'm Barry Rita you're listening to masters and business on Bloomberg radio My extra special guest this week is ray dalio He is the founder of Bridgewater the world's largest hedge fund and the author of a new book principles for dealing with the changing world order Why nations succeed and fail So there was a data point that I was really impressed with from the book that I had no idea and I want to ask you this question as a follow-up of what we were talking about earlier Ten great nations going back a few hundred years since 1900 7 out of ten of these nations saw their wealth wiped out at least once That's a pretty astonishing data point The wealth of an entire nation wiped out how does that happen And what is the aftermath like It's so good that people can see these cycles starting we start like in 1900 Our perspective does not include these things and when you start to see it at the cycle it's quite something So what happens is here's how it works Capitalism and a capital market is a fabulous system for getting resources in the hands of entrepreneurs and inventive people and it raises living standards particularly after a war when there's a peaceful period and you've done the restructuring and things improve And so if we go back let's say to the 1800s and take 1850 And so on We have the industrial revolution that the power of the individual and so on and it rises But what happens is it also creates wealth gaps and it creates opportunity gaps because those who have more money can educate their children better can do certain things And it also creates greater levels of indebtedness because as the cycle goes on everybody at bets on it increasing and so on and they get more in debt and so on And you turn the 1900 You come into 1900 And then you start to see the conflict begin to emerge This is when the bad treatment of workers and workers rights and then that's what labor Child labor And then also taxes start to rise He didn't have an income tax And then they start to rise But there's also an anger and that begins to emerge And then there's the conflict and there's economic pain and conflict I mean when you have a big wealth gap And you have economic problems You have a conflict That's a classic set of ingredients particularly than if you have too much debt You're going to have a problem So what we see is that you come into that period And the pendulum swings the other way That people get angry You saw that in 2008 The anti capitalist You can certainly see the anti capitalist The in other words the billionaires not no longer the inventive person who gets what they deserve kind of thing They're really more okay the greedy And they're living sort of decadent lives while at the same time as people are not getting educated and so on People get angry And so you see that kind of an R cap and repeatedly So that's the nature of the beast in terms of that cycle So here's the big question Are these cycles inevitable Is our fate sealed Or is there something we as a nation can do to break what sounds like a very self destructive cycle of external competition excessive debt and internal strife Yes No it's in our ability to deal with that as a society Because in the book I show the 5 major determinants but I also show 18 determinants And they are predictors of the next ten years growth rates and conditions And so you could see them that's like a health index Right So it's education innovation and technology cost competitiveness military strength trade et cetera Right And what I did is I put numbers on that so you can see the graph and are they improving or worsening And so on so that to health index that I hope everyone would look at it and even judge their leaders by Are we getting better or are we getting weaker And what is the conflict But if I'm going to not take you through all the 18 in the book I just want to say that there were two there were a.

Bloomberg Marty Walsh terrace Sinclair Tara Sinclair Charlie pellet Barry Rita ray dalio George Washington University Bridgewater S
"labor force" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:15 min | 11 months ago

"labor force" Discussed on Bloomberg Radio New York

"Not going to see a steep plan Now the other big theme through the week has been the great rotation out of growth into value The NASDAQ is done over 3% for the week And in terms of contrarian trades you would say your top contrarian trade is to underway technology But are you brave enough to be underweight mega tech Because there's two very different worlds in the NASDAQ Isn't there those mega tech And then there's everything else 40% of it is dropped by 50% So it might be contrarian to be underway tech but which part of tech you want to be underweight The index the mega cop or the subplots As we put our money where our mouth is we are underweight mega cap tech We actually took off most of our mega cap take exposure in December It's undoubtedly those companies have grown earnings substantially over the last two years especially over the pandemic But what's even more is that they're multiples of the reason even faster than their earnings Now we can say that these companies are long-term winners and we still believe that But they are not going to grow earnings at a faster pace than they have done in the last two years So the rise in multiples of these companies that we've seen over the last two years that needs to come down and we have that impetus coming from that policy right now So at least in the initial part of the year as long as there is pocket much pockets from the fed as long as there is focus on the reopening trade and that is driving commodities and other real assets higher we think on the way technology is actually the place to be and focus much more on the reopening trades focus on energy focus on consumer services which are going to bounce back after what we've had a very severe two year old driven pullback in those companies The payroll number will come tonight We've got a very strong ADP during the week over 800,000 I think we're going for just over 400,000 on the jobs report tonight What defines full employment for you given the huge leaving number that we saw in November versus job openings Well are you rethinking full employment I think we are still ways away from full employment because of the labor force participation rate being so low And what we are looking for is increase in participation rate this year We've had multiple reasons from work from home to virus to other reasons why people have been uncomfortable in coming back to the workforce full fledged So now I think this year we will see a increasing labor force participation rate And that will well why we will keep seeing lower unemployment rates that still means that the overall ability of employment to go higher is there So there are lots of those people who have not come back into the labor force that will come back this year And that will keep the market healthy Keeping the markets healthy as you should hope So my CIO ADS ambassador solutions My guest this morning our markets quickly coming through on COVID related newsflash should say.

fed labor force
Biden's Child Tax Credit Could Create a Massive Expansion of the Welfare State

The Larry Elder Show

02:17 min | 1 year ago

Biden's Child Tax Credit Could Create a Massive Expansion of the Welfare State

"What the heritage foundation writes about what Biden wants to do with the child, tax credit. In reality, he's proposing a massive expansion of the welfare state. Except he's calling it a child allowance. In the policy relies upon the child credit tech credit. Now think about a tax credit. That means you pay taxes, right? Well, he's expanding it for people that don't pay taxes. They don't have jobs. Rather than providing tax relief, the plan would give cash grants to families who do not work or work comparatively comparatively little. The Clinton era welfare reform understood that paying able bodied people not to work with good for neither society, nor recipients. Such payments tend to push individuals out of the labor force and toward the margin of society, impeding upward mobility for both adults and children. In reality the plan would offer zero long-term tax relief to working families with children. Even in the short term, some 75% of the aid would go to cash grants to families who owe no income tax. Contrary to the Biden administration rhetoric the primary focus would not be taxed relief, but the elimination of all work requirements and work incentives from the current child credit program. Under the current system, a family must earn at least $2500 during the year to be eligible for the cash grants. The Biden shallow allowance policy seeks to rip out these work requirements and incentive credit explicitly overturning the principles of welfare reform. Under the Biden plan, the federal government would for the first time in a quarter century provide unconditional cash grants to families who choose not to work during the year.

Biden Heritage Foundation Biden Administration Clinton Federal Government
Joe Biden's Approval Rating Is 36% Because Nobody Trusts Him Anymore

The Dan Bongino Show

01:50 min | 1 year ago

Joe Biden's Approval Rating Is 36% Because Nobody Trusts Him Anymore

"The big Moe's turning against them Another reason the big mow is turning against Joe Biden and momentum is going against It was not just because of his dreadful policies But nobody trusts him anymore Folks the guy I can't say this enough He keeps telling his autobiography autobiographical story and it's in the fiction section of the story He just keeps making stuff up every day So it's bad enough that his portfolio of policies is failing based on every available metric Labor force participation inflation consumer sentiment GDP growth It's gone down since he's gotten to office based on every single available touchable feel about metric Joe Biden is losing But Democrats usually run cover for Brad Democrat presidents when their policies blow it So why is Joe Biden at a uniquely low 36% right now approval rate Well not just his policy suck but the guy can't get out of his own way when he's telling his own life story and nobody trusts the guy anymore Listen folks one of the most damaging political narratives out there is a political narrative that changes a preexisting thought about who you thought a candidate or a person was You know it's why I make the case to you during the 2016 campaign that all stuff I came out about Donald Trump You know everybody had already heard it before They'd heard it before It didn't change a preexisting narrative about people already heard it before They already understood it all Think about Biden as Biden ran in 2020 against Trump as a stability agent As a guy who was going to level off these emotional peaks and valleys the country was going to under Trump That's what he ran on there He ran as like a man of integrity as a lunch bucket Joe was a Scranton kid Folks the reason this guy's approval ratings are 36% is because none of that's

Joe Biden Brad Democrat MOE Biden Donald Trump Scranton JOE
EXPLAINER: takeaways from the September jobs report

AP News Radio

00:54 sec | 1 year ago

EXPLAINER: takeaways from the September jobs report

"The government September jobs report shows the unemployment rate tumbled to four point eight percent but the reasons are a mix of good and not so good the number of people reporting they were employed jumped five hundred and twenty six thousand last month well those jobless fell by seven hundred and ten thousand however one hundred and eighty three thousand people stopped looking for work and therefore no longer count among the jobless the share of Americans who either have a job or are looking for one the labor force participation rate slipped to sixty one point six percent in September before the pandemic it exceeded sixty three percent with demand for workers searching economists are a bit puzzled why so many have chosen to stay on the sidelines perhaps fear of becoming infected in public facing jobs struggles with child care some may be rethinking their careers or it simply chosen early retirement Ben Thomas Washington

Labor Force Ben Thomas Washington
What It's Really Like to Be a Truck Driver

Odd Lots

02:27 min | 1 year ago

What It's Really Like to Be a Truck Driver

"My understanding is that there's a lot of turnover among drivers too. So you know trucks might get worn out after three years. Drivers might get worn out in even less time and leave the industry altogether. Could you maybe describe. How desirable is being a truck driver as an occupation. At the moment so joe and i talked about how we both have this sort of romanticize view of it could you may be Tell us what it's really like. And how it stacks up against the money that you're actually being paid to do it. At the moment the realities are quite different in your romanticized Of the it is a tough job. So if you're an owner operator you'll make in this market because the demand is so high you quite well. You probably would net one hundred thousand dollars as a employee driver. You're probably going to be making about fifty five to sixty thousand dollars as an employee driver per year and you're going to be paid on a per mile basis. You're gonna you're gonna run your trot kurt or drive or work about fifty six hours on a given week. It's not a forty hour week. Actually working fifty six hours. But here's the reality is. You're not at home every single night. The vast majority of the driver attraction out and so while you may not be on duty that fifty six hours in a given week. You're you're still at a truck You're still dealing with over the road. So it's it's a really. It creates a lot of strain on families A lot of strain on people. It takes a special kind of person to want a life where they're out in the road. It's it's a job that's very dangerous is one of the most dangerous jobs in america. It's a job that has very a high occupational issues in terms of health. You're sitting in a truck for you know you're driving for eleven hours a day. You're sitting which you know drivers have high incidence of obesity diabetes so it's not a great lifestyle And for all those reasons. It's not a desirable job for for a large percent of the population. And unfortunately the industry salaries have not kept up with a lot of the competitive industries which they compete for labor like warehousing construction other types of industries which sent a poll the same labor force

JOE America Obesity Diabetes
The Psychological Toll of Long-Term Unemployment

Marketplace with Kai Ryssdal

01:59 min | 1 year ago

The Psychological Toll of Long-Term Unemployment

"Spent every single month since the start of this pandemic picking apart jobs numbers and unemployment claims. But there's a lot happening in the labor force that doesn't get captured in that data. Right like the toll that long term unemployment during a once in a lifetime pandemic can take and how that long term unemployment is creating less predictable back to work economy. Marketplace's kristen schwab has that one be. Lieberman's daughter has an auto immune disease so in the virginia. High school where she teaches computers and coding mandated. That teachers come back to work last august. she quit. I really thought i could find something. Even if it was part time employment. She applied to software companies that work with schools but she has no sales experience. She applied to teach spanish which she's taught before no bites job. That have nothing to do with computers or teaching like an hourly position at the dmv helped. You just have so much time with just your thoughts and it eats you up. Losing a job is already isolating says art goldsmith economist at washington and lee university and now there's the isolation of the pandemic itself that has created a lot of poor mental health more so in this recession and in previous recessions long-term unemployment changes how people feel about their worth is workers sarah damascus associate at penn state before the pandemic she followed people who lost their jobs by the twelve month mark they were describing themselves as having fewer and fewer john's that they felt that they were qualified for this can create a pattern. Someone gets job. Low their skill level or one. That has nothing to do with their skills. They're unhappy and leave or let go because they were never a good fit and then they're back out there searching. It's devastating for their career in the long run each time they scramble and find something in fail. They fall further and further

Kristen Schwab Lieberman Sarah Damascus Lee University DMV Virginia High School Goldsmith Penn State Washington John
"labor force" Discussed on 600 WREC

600 WREC

05:56 min | 1 year ago

"labor force" Discussed on 600 WREC

"And welcome back to the Rush Limbaugh show on the network. One of the things that struck me yesterday was watching this joint press conference in Guatemala in Guatemala City, where the Vice president Kamala Harris and the president of Guatemala were together. And again. His name is Alejandro G. M a K, and he stood there right alongside her. And he said, uh of Vice President Harris. We're not on the same side of the same coin. On migration quote. We asked the United States government to send more of a clear message to prevent more people from leaving. They don't want Guatemalan residents and citizens. Leaving Guatemala. They don't want to hollow out their labor force. They don't They also don't need the inflow from other countries pouring through Guatemala to get to Mexico. You're talking about a whole range of different problems in these countries. You might have governance issues. You might have issues connected to whether or not there's corruption, right? Sure, Okay. We understand that this corruption in Chicago violence on the streets of these cities and these countries, we've got terrible violence on the streets of Chicago and New York. I mean, these are problems that are shared hemispheric Lee. But here's the reality. Guatemala has got some problems. They had a couple of hurricanes. They acknowledge that they also acknowledge that they were two different, difficult. In terms of their pandemic lockdown. They wouldn't permit people to move around the inside of the country so that a poor family someplace could not go to another part of Guatemala to go find work. Instead, they just leave Guatemala and come to the United States. This has all been acknowledged. So here comes Kamala Harris, who still has not been to the United States border with Mexico. And she sits down this morning with Lester Holt there on the on NBC. And he asks or a direct question, and she gives a pretty weak answer. You have any plans? To visit the border at some point, you know? We are going to the border. We've been to the border. So this whole this whole this whole thing about the border? We've been to the border. We've been to the board. You haven't been to the border. And I haven't been to Europe. I don't. I don't understand the point that you're making. You're witnessing somebody who is in charge of a very serious policy. And don't forget. She's also in charge of getting the, uh, for the People Act passed. That was the other task that President Biden handed to her. She's doing a terrible job with what's going on in these in these countries that are sending migrants into the United States. And the reality is I wouldn't want to go to the border if I were Kamala Harris or Joe Biden because I created the disaster on the American border. It's much easier to push the sham. Because that is what this is This trip to Guatemala and Mexico is a sham. It's a way to check a box and say, Well, we went down there and looked at what was going on in Central America and Mexico. We're done with that now. No, no, no, You're not. No, You're not. I'm sorry. You spoke eloquently about the kids in cages Built by Obama. Biden. You spoke eloquently about about the women and girls who are being victimised. But you won't even go to that ranch. In southern Texas, where they found the five little girls jumped in the wilderness Ages. 11 months through age seven. Left in the middle of a field discovered by the farmer who saved their lives. It was going to be a 110 degree day down there. He saved their lives. The 11 month old was just crawling around like a baby. And the seven year old was asleep. They had been dumped by human smugglers. GM eight in Guatemala did a number of interviews with American press CBS News, He talked to CBS News he talked to The New York Post. And he said, I want the United States to prosecute the human smugglers. We know who they are, and will help you. I want the United States to prosecute the cartels. We are being ravaged by illegal drugs, and the demand from the United States is profound. What are we doing in every jurisdiction legalizing drugs, emptying the jails, releasing criminals. This is a guy who's sitting at the crossroads. Of disaster and mayhem, and we've set this giant magnet up. Right there on the American border with Mexico that says, Come north, and we'll hook you up Anybody in the sound of my voice and we are on so many great radio stations across the fruited plain, but I know I know personally that we are on many, many, many radio stations across the border along the border from San Diego all the way down to Brownsville. And people in the sound of my voice. You know what I'm talking about when it comes to the Ms Mao and nonfeasance of what Kamala Harris and Joe Biden have brought to your area. You have an A B comparison You can do today back to a year ago and tell me how that border operation was. You know how bad it is that in McAllen, Texas, uh, an area that's 85% Hispanic. They threw out the Democrat for consideration to become the mayor and went with a Republican because the folks there are tired of seeing their community ravaged by policies made By people in Washington, D. C. Who can't even take the time to journey to the American border and then laugh it off by saying, Well, I haven't been to Europe either. 75 countries are pumping people into this country through the Mexican border. 75 You have to look at that through.

Joe Biden New York Central America United States Guatemala San Diego Brownsville Guatemala City Obama 11 months 110 degree Mexico Europe Lester Holt 75 countries CBS News yesterday Chicago Washington, D. C. Mao
Massive Online Courses Got a Boost During the Pandemic. Will It Last?

Marketplace Tech with Molly Wood

01:31 min | 1 year ago

Massive Online Courses Got a Boost During the Pandemic. Will It Last?

"When a couple of stanford professors founded core sarah in two thousand twelve. They promised to democratize access to higher education. By making courses from prestigious colleges available online now nearly a decade later many of us were thrust into the world of online education by the pandemic. and of course sarah saw tens of millions of new users join its platform some just looking for lectures to occupy their time other seeking new skills in areas like machine learning and data science. Jeff magin khalda is ceo. Of course sarah. He says states like new york and tennessee have also paid the company to provide free courses for their unemployed residents. governments have realized that online re-skilling programmes had a speed and scale and cost effectiveness. That is just not really natural. One of the exciting things after a year of seeing really growing in inequality and many women dropping out of the labor force to take care of kids. Who can't go to school what we've been seeing on chris. Era is the percentage of enrollments especially in stem courses. From women has gone up from about thirty. Three percent to forty seven percents. Almost fifty fifty so women are actually turning more to online learning and as we think about the future of work for states who are about reskilling being able to get your citizens access to jobs. That maybe aren't in. Your state is going to be much more possible with remote work.

Sarah Jeff Magin Khalda Tennessee New York Chris
"labor force" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

04:05 min | 1 year ago

"labor force" Discussed on Marketplace with Kai Ryssdal

"When i was sixteen. I had my first real job. I worked at an ice cream fast food company and then a year later i moved to a mexican restaurant. I never really got fully trained for the job in that kept me from being promoted despite working there for a year before i left. I didn't get a pay raise during that time. Food service is a lot harder than many people believe. I've always been of the mind that you should work food service or retail at some point to understand what people have to go through and the fact that is an entry level. Job is kind of crazy because you're overworked every hour. You're there and you're not paid anywhere close to what you should be for the effort and energy you have to put into the job just to keep it so i decided to try a retail and move out of food service. I'm earning less at my retail job. But i feel it is closer to the amount of energy. I have to put in for food.

a year later sixteen a year before first real mexican
"labor force" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

03:05 min | 1 year ago

"labor force" Discussed on Marketplace with Kai Ryssdal

"All right all of that said between catherine and me and about jobs there is another little bit of it. we need to tell you about. And it goes like this. The monthly jobs report and the weekly claims numbers that we get on thursdays. Those are lagging indicators. They tell us where the labor market has been which is great. Nothing wrong with that right. I don't know about you but we want to know where the labor market is going. Millions of people have dropped out of the labor force since last spring willingly or on. So it's going to get him back and win as promised. Here's marketplace's mitchell hartman. We can point to a few things that have clearly kept a lot of people from re entering the workforce so far childcare obligations fear of getting cove it with less than half the population fully vaccinated. And that's just to start with the economy itself isn't ready to take a lot of workers back says julia friedlander at the atlantic council. You don't see a broad sweeping returned services sector Depends where you go in the country. I just drove across some states. Everything opened and some doubts and for people who used to be saying janitors or a drivers. There may not be jobs to go back to having to transport having to do with maintaining large office buildings like anything that was sort of a given before the pandemic. That now is still in question. No most k. Through twelve schools will be back in session. Come september but jasmine tucker at the national women's law center says some of the one and a half million moms who've left the workforce will want to wait till it's safe to send their toddlers and preschoolers out of the house again. People are really looking for into getting the little ones vaccinated and so whether that comes in the fall or towards end of the year. I think a lot of people are looking to that. Plus there's a lot of pent-up train in the job market already says scott hamilton at hr consultancy gallagher. That's made it harder for employers to get workers to stay in jobs you've got employees that are changing jobs based on host pandemic lifestyle needs. There's pent up turnover where employees worked through. The pandemic in their roles are finding other opportunities and other businesses. Many employers are putting more money on the table to draw people back to work. There's a certain element of wage increases. That will obviously result in increased labor market participation but it seems like employers are looking at other ways to get people in the north like offering flexible hours remote.

julia friedlander mitchell hartman scott hamilton september atlantic council one and a half million twelve schools Millions of people last spring jasmine tucker national women's law center less than half the population thursdays end of people hr consultancy gallagher
"labor force" Discussed on 790 KABC

790 KABC

02:04 min | 1 year ago

"labor force" Discussed on 790 KABC

"And the ad because I imagine the pandemic may have had an impact on the number of people you have. They were able to build a house. It has on one of the remarkable things that I think this verifies the strength of the housing industry as a job creator and confirms what we've been saying about the skilled labor shortage. Homebuilding industry when you include of remodeling and single family construction. It's one of the few sectors and U S economy right now, who's labor forces larger now? And it was a year ago. In other words, we've added nut jobs because there's other sectors, particularly nonresidential construction have lost jobs. You know, labor is a long term challenge is one that we're going to be dealing with over the next 5 to 10 years. And organizations like any V and the Homebuilders Institute trying to bring people into the housing industry and make a career of it. I see. And Robert one last question for you if some of our listeners have their hearts set on buying a brand new home or building a home from scratch. What would your advice be to them Patients and strategy? So you know, shop online expand the number of neighborhoods. Bigger ruling, though, look at given potential changes in your weekly commute. Patience is going to be the key thing because the demand is really strong. We know the inventory is tight, so it's certainly worth doing the homework now and get involved and and looking. That sounds great. And Robert in 2021. I certainly hope that the nation's homebuilders hit their goals. And I thank you for joining us on the show. Absolutely. Thank you. You are so welcome Robert Dietz, the chief economist at the National Association of Homebuilders Coming up on real estate. Today we'll meet a homeowner who never buys a pre owned house. I'm not anti purchasing An existing are older home. A lot of times it came down to just finding the right house for my family..

Robert Dietz National Association of Homebu Homebuilders Institute chief economist
"labor force" Discussed on WSB-AM

WSB-AM

02:39 min | 1 year ago

"labor force" Discussed on WSB-AM

"Georgia Congresswoman Marjorie Taylor Green holds a news conference. Next hour of the USB is Erick Erickson says the controversy is on Lee going to help green. Interestingly, a lot of polling shows about 50% of Republicans don't even know who she is. They're about to find out who she is, and a lot of them will start sending her money. We'll have live coverage of greens news conference at 11 o'clock on WSB and the WSB radio APP. WSB meteorologist Kirk Mellish is tracking the possibility of some snow and sleet late tomorrow, mainly in the northern suburbs, some minor accumulation possible for a brief time in some spots. Far north suburbs but little or no travel impact, and it won't last. Atlanta's most accurate in dependable forecast is coming up. Senate Majority Leader Chuck Schumer gets Georgia credit for helping pass A budget bill this morning, clearing the way for $1.9 trillion in covert relief to senators from Georgia to Democratic senators were elected. In just a month. From that day, we have taken a giant step after the vote. One of those new senators Jon Ossoff's tweets, Georgia voters made this possible. Democrats hope to have the bill on President Biden's desk by early March. Theo US economy has 48,000 jobs in January The latest report from the Labor Department shows a slight drop in unemployment to 6.3%. CBS News business analyst. Dill Slash singer says the economic downturn in the pandemic is harder on women. The shrinking labor force is particularly notable among women who are often bearing the primary burden for care of Children and older relatives. 23% of women who are are employed, are working from home. The U. S may soon have a third vaccine in the fight against Cove. It Johnson and Johnson is submitting a request to the FDA for emergency use authorization for its one dose vaccine. If you've gotten the covert vaccine and have a card to prove it, WSB consumer expert Clark Howard says. There's one thing you should not do. People are turning around and posting. Their card on social media saying, Look at me. Clark says that info on the card can be used by thieves. A Georgia natives will suit up in Sunday's Super Bowl in Tampa, including two who have a crucial role for the Chiefs. The Chiefs have delivered the league's best offense again definitely got £5 for sure. And former U G a receiver and kick returner McColl Hardman has certainly found a niche is a big play burner. Oh, no. See, they forget about me, but you so much attention on certain other people. That's what happens when your team has one of the league's best receivers time. Re kill from tiny Pearson, Georgia in coffee County long time given this opportunity, so why not try to be the best he'll wait for 2 69 and three TDs in the regular season went over Tampa cases a three point favorite Sunday. J Block 95.5 WSB WSB news time is 10 32..

Georgia WSB Clark Howard Chiefs Lee Marjorie Taylor Green Erick Erickson Tampa McColl Hardman US Chuck Schumer Kirk Mellish CBS News Atlanta Senate greens Jon Ossoff Johnson Theo
"labor force" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:35 min | 2 years ago

"labor force" Discussed on WNYC 93.9 FM

"Left the labor force, potentially setting back their careers beyond the current crisis. I'm making McCarty Carino from marketplace. One more thing on the actual jobs data adhering to the policy of this program that if we stop talking about this stuff, we're gonna stop talking about it. White unemployment 6% last month black unemployment 9.9%. The virus. As I believe I've said a time or two on this show and his, Neela said about three minutes ago is in charge of this economy right now. So who gets the vaccine for it? And when He's gonna have a lot to do with how this economy goes among the slices of this economy that lost the most jobs last month. Restaurants and travel and leisure. So it's of note that in Washington, D. C next month, restaurant workers move up in the vaccine line marketplaces Jasmine Garza has that one. Listen, Layne bartenders at several different places in Washington, D C. She says. Even with the pandemic raging patrons waiting for food and drink decided that it was okay to take off your mask. If you're sitting down on the table It's like OK, so the virus stops If you're sitting down, which puts servers like her at risk many times a day, she says. Vaccinating restaurant workers. It definitely is an acknowledgment that restaurant workers are important and we are often exposed to disease without any health insurance. Vaccines won't.

Jasmine Garza McCarty Carino Neela Washington Layne
"labor force" Discussed on KCRW

KCRW

01:34 min | 2 years ago

"labor force" Discussed on KCRW

"Labor force, potentially setting back their careers beyond the current crisis. I'm making McCarty Carino from marketplace. One more thing on the actual jobs data adhering to the policy of this program that if we stop talking about this stuff, we're gonna stop talking about it. White unemployment 6% last month black unemployment 9.9%. Virus. As I believe I've said a time or two on this show and his, Neela said about three minutes ago is in charge of this economy right now. So who gets the vaccine for it? And when is gonna have a lot to do with how this economy goes among the slices of this economy that lost the most jobs last month? Restaurants and travel and leisure. So it's of note that in Washington, D. C next month, restaurant workers move up in the vaccine line marketplaces Jasmine Garza has that one. Listen, Layne bartenders at several different places in Washington, D C, she says. Even with the pandemic, raging patrons waiting for food and drink decided that it was okay to take off your mask. If you're sitting down at this table, it's like OK, so the virus stops if you're sitting down, which puts servers like her at risk many times a day, she says. Vaccinating restaurant workers. It definitely is an acknowledgment that restaurant workers are important and we are often exposed to disease without any health insurance and vaccines won't just.

Jasmine Garza McCarty Carino Washington Neela Layne