You're watching...
FBN's Elizabeth MacDonald on July's ADP jobs report and the expectations for Friday's numbers from the Department of Labor.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Expecting good news from Friday's government employment report Liz MacDonald joins us right now would look at the numbers to -- reports today.
Yeah I ADP employment survey showing a 1141000.
Jobs.
Added in the private sector that was a -- moderate kind of a gain there.
Verses -- -- 145000.
Jobs in the prior month.
Other president has been saying I think since He took office that He wants to create jobs and it's been a tough slog and here's a deal with the new numbers coming up from the government.
And here's -- we should look at a big government is both government jobs and also private sector jobs so it's a net number in other words a lot of those jobless numbers are you gonna see come in and is because the government laid off census workers also state and local workers have been laid off to.
But let's look at the companies that have been laying off that we are seeing take a look at this scream we're seeing quarters Merck and laying off a lot of workers Cisco.
-- -- Boston Scientific.
Those jobs cuts job layoffs -- -- challenger gray and Christmas which surveys and those -- and analysis of layoffs.
57% of the jobs laid off job layoffs rather 66000.
More than half came from just these five companies so the question is is it's there's there's a broad based.
Lay off picture that we're seeing or not that's that that's the most serious question I think that the markets -- trying to struggle with today.
You know what would mean it seems like six months ago -- a year ago we were talking about.
These companies are just getting meaning me and once they do it they're gonna get to the point where they are so efficient.
But they're gonna have to start hiring again they just -- -- more efficient yet.
Cisco thousands of people we see their banks thousands of PM us.
-- you know that's right you know in other words this has been a profit margin.
Recovery in the stock market because they've -- -- reduced headcount and reduce overhead can they continue to cut into the muscle.
And is you know would that help their revenues going for it still because we've -- the story play out for three years yeah that's -- are are they cutting and out people that can really drive the bottom line.
That's the debate they don't seem to be ready to stop yet thank.
