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A fox and business alert for you today weekly jobless claims did finally fall to a nine month float is our spring -- -- work.
Our companies in -- finally be hiring more full time workers rob -- vanished Carol services president with me now.
Rob locate where you encouraged by these numbers today because.
Yes from below 400000.
But a lot of the jobs that.
We're saying low paying jobs -- What we're down about 191000 jobs were up 300 366000.
Reported claims where we're supposed to be the challenges we need to be more near 350 to get back to a full employment situation I'm excited.
About the prospects of headed there the reality is retail jobs are low paying jobs and it doesn't solve the long Tom long term problems we have.
Would these so called stem processes which is science technology and engineering and mathematics that's the most important thing and long term we have to trade for those specific skills and we're not there -- Clearly does not jobs they're talking about specific jobs where we've had a lot of companies lot of CEOs have come on this program and said.
I have an engineering position available I can't find anybody in this country they're saying they're gonna have to go overseas -- you're saying that's direct.
Fault of the educational I'm saying it's a huge fall to the educational system here's a statistic.
But by 2018.
We're gonna have to have roughly 800000.
New engineers in this country.
But we're only graduating roughly a quarter of that number to actually make it happen it's a big problem long term for America we don't have this.
20% -- -- -- -- reasonable like Harris Interactive 20%.
These these jobs are going to women African Americans and Latinos that is nothing.
There's no growth in those particular segments why are we not getting the skill sets and those demographic -- I think the bigger picture is that.
Those individuals are gonna make up 70% of our entire workforce the reality is if you look at the 20% in stem in the 70%.
An actual workforce it's gonna be a problem because we just don't have enough people to fill those positions it's a major issue suspect unemployment your -- second on the on the heels of that that the data that we got this morning it's one of the reasons for saying nice market to Iraq.
The same time back in the spring if you looked at the breakdown between if you had about -- agree.
And you did not have about -- -- the employment spread.
Huge you before degree unemployment at four point 2% you don't have a four year degree college degree forgot unemployment 13%.
It is that continue it is it is a significant issue and I think it will continue as long as our.
On education system doesn't really should have strong feeling towards these stem processes it's a big issue right now.
Let me ask you this as well you know a lot of what we've seen a lot of -- -- -- again CEO's companies have come on the show -- regulations that concerned about.
Whether -- that implementation of the health care law whether or not but stays as law.
Next year and also again and regulatory issues the fight over the payroll tax the fight over the debt in DC does that have an effect.
On companies that you talked to work with today really say that's hot -- holding you back from -- Higher and as a significant effect think about it.
Just for the payroll tax situation alone -- -- the company has 40 employees I am not hiring until I know exactly what that's gonna mean -- not only my organization but to -- employees think about it.
In these people don't have extra dollars in their pocket.
70% of the US economy has to do with consumer spending if people don't have money in their pockets how we expected to grow the economy and it's really -- simple equation this is not rocket science we're looking at right now rob up that's -- -- -- -- need to get to rob bass so the.
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