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-- -- -- back the big story of the day unemployment down on just a fraction down to eight point 5% and just this weekend President Obama announced plans for one point five billion dollar plan to create some good jobs -- -- to -- 61 right into jobs in the Salah.
Michael Saltzman joins us from the employment policies institute is in DC.
First of all Michael I'm calling this latest unemployment report eight point 5% two and a thousand new jobs are saying that's a solid report what are you -- I say its assault report to -- and I think especially when you look at the ADP report yesterday the growth in private sector payrolls.
It's a great report for the whole economy.
But if you look at the teen unemployment rate what we also found out today as it this year teen unemployment was averaging.
But 24 point 4% which is similar to what it was in 2009 and 2008.
-- labor force participation also dropped somewhat so we're still not so it was sort of improvement for young people so Michael you therefore I presume are in favor all of the presents one and a half billion dollar plan to create a 180000.
Summit jobs fatigued you're in favor of that volume.
Well here's the thing I think it's I didn't -- it's a step in the right direction but we've had plans like this before and it's not a cure all it's not a panacea.
I something it's frustrating is that it feels like we're sort of mopping up for the mistakes of past policies.
We increase that federal minimum wage by 40% between 07 and 09.
Which made it more expensive to hire young people and ours are saying well we have to find a way to put him back to work do you think that if you abolish the minimum -- is that -- -- July.
You think that's a better alternative to one and a half billion dollar plan.
Well I think what I'd suggest is that something like -- training wage that some states have considered we have one at the federal level right now but there's some caveats.
Single relaxing some of those caveats restrictions letting teens -- Get their foothold I think that's the right approach Obama is why Google don't be wishy washy why don't you just cut right -- either abolish the minimum wage or -- which is.
Well you know what I think we have to be realistic about what's possible I mean right now we want to get the labor market moving again and so we have to be realistic about.
What can happen and I think what could happen is people could realize that teens aren't as experienced and it if you make -- more expensive to employed and if you ever gonna get a job.
Alright Michael Saltzman we appreciate your input thanks lot for joining us this morning from DC.
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