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What sectors and I'm glad you brought those to our attention I want to bring Jeff right -- of the conversation Jeff.
There were some groups that added in this report is -- health care we've seen a lot of need for health care jobs throughout the country.
Is this enough -- of about a bright spots -- not.
Sink the economy even further when frankly you've got a lot of people Jeff that are worried about us going back into a recession.
Yeah I you know I think that those worries are are pretty justified especially after looking at this last report.
Clearly the month of August was not a a good news month by any means but.
You know despite what we're seeing at the overall BLS number that the hiring activity at the senior level remains very strong -- a robust.
I was on here a couple months ago saying our firm at a record may in -- we surpassed that in August so how long that.
Dynamic can continue or the senior level buying these grows it at a quite a rapid clip and they.
The BLS number.
Is pretty weak I'm not quite sure on that's going to be able -- last.
OK I don't wanna -- Constance into the thickest constant the underemployment rate also rose sixteen point 2% now so that's people that are either given up.
-- or just only looking for part time a worsening an increase in the had a problem is -- are looking for full time.
OK yeah OK great so I think it was it was a 110 of a percent went up from sixteen point one for to sixteen -- -- -- this -- been bad for a long time.
And it's really when you think about the pain level when you think about what is driving that consumer confidence numbers it's the sixteen point two was a really big number.
It is a big number and I wanna go back to Lawrence Amanda couple of things here you know -- Peter Barnes was showing there are some sectors.
That are actually hiring those -- the same sectors that many investors have been.
Looking to put positions into health care.
Even -- finance not so much.
OK exactly and we saw how much the financial companies were hurt today I just don't -- sending email earlier this morning He said we had faith in some of the grocer is.
And some of these other sectors that kind of could do well and it's -- market.
But are really dependent on the consumer and all of those sectors are going to start selling off because where's the consumer and there's no job.
Zero jobs created and in August it really could -- on -- on the president I was talking to.
Jason Weisberg and He was saying we don't expect the president to say anything that the investing community wants to -- next week and that's the problem so the sell off on a 155 points today.
Could get worse that we hadn't and that's -- 161000 private sector jobs -- has 171000.
You need 200000 are greater to put people back to work and indicated help the economy.
Been in you were asking earlier about are we gonna see another recession the doubled their -- yesterday on Fox Business -- an analyst who's talking about a lot of people going to to restaurants and they actually look at restaurants.
You know when people dying out as an indicator -- the people are pulling back.
The danger -- this number is that you may have a job.
But if you hear that unemployment is really as bad as it is and then you see a friend of yours may be is on the unemployment lines.
You pull back you stop going to the restaurant He stopped consumer spending.
We saw retail so this they were a lot better than people expected but people do pull back when they get afraid you get the negative feedback loop and then you -- You know I'm Christopher and to you Phil -- any one of the things that Ben Bernanke one of the dual mandates of the Fed of course it's it's unemployment is the employment as well as monetary policy.
We have -- and didn't -- as a reaction to this today you're guessing man.
You know I I I I I think they're frustrated I mean I think that they feel like they're hearing a lot of you know and obviously the odds of quantity to be they're gonna probably start going up.
I think that's why we've seen a lot of volatility did -- at the -- But I'll tell you why you know what we talk about this job situation what really irks me about this.
Is that we have an industry in this country and it's dying to create jobs the energy industry you know we have had this keystone pipeline on the block.
You know since the Obama administration has come in office you could create 35000.
Jobs tomorrow you tell just by a -- -- -- I'd like and that's just the tip of the iceberg.
You know when we look at the energy industry we have done everything in the traditional lenders think this -- job creation at.
-- if you want to start creating jobs today.
Tomorrow and get back to the energy industry and I think they can help revitalize and -- He got an average percent of GDP that we're trying to squelch right now.
Open it up in I think it would be a big help right away.
All right let me -- last -- here Jeff Hoffman Jeff again some sectors are growing.
I see health care and analog cable looking at a four part time.
Work are we missing any thing is there a sector that you see hope in June.
Well I think that lifesciences you know you headed is another one another area of opportunity technology you said IT.
But really that they're not nearly enough people skilled people to fill the in the number of jobs that are in demand that are paying really high wages.
Because the lack of available supply to meet to meet the needs of both companies are trying to do.
Jeff Hoffman -- chart a national Lawrence -- thanks all of you we appreciate the.
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