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Private Sector Adds 227K Jobs in February

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  • Description

    FBN’s Ray Hennessey on the positive points in the February jobs report.

  • Duration 3:41
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More than interest staying good elements and that jobs report let's -- to ray -- to break more of it down right why not more reaction of market key thing.

You know I actually think that people were anticipating a positive report anyway if you had seen something on the downside you probably -- seen a bigger negative reaction but.

You know as you saw later in the week when we have these gains -- the broader markets everybody was looking toward a better than expected jobs number except for you know maybe one or two Wall Street firms have.

People are anticipating that it what's funny about it brigade as they were anticipating was he be better because of weather.

And whether didn't seem to to affect this when you look at whether you look at them like construction jobs.

You didn't see that that impact this was driven by a more broad based adding by by employers we lost thirteen thousand contract -- yeah I mean and 11 other point that it that'd make about the unemployment rate because you know we -- that discussion earlier when.

-- at least David was violently agreeing with every -- -- -- But when you when you have eight point 3% when you have a recovery people like to see that unemployment rate rise because it means more people are entering the workforce and some people -- scratching their heads as to why that didn't happen.

They're the reason is simple people were added to the workforce and immediately found jobs which is unusual and it's good you feel like half a million people were at the workforce.

And you added 420000.

To those half a million.

That's not bad that's that's pretty good so you -- people -- you see some labor mobility see people changing jobs -- people -- -- so all in all it's tough to quibble with what what you have here.

It's kind of interesting and whether that could continue until the the elections we had these two different views on that exact subject this before the report came out of course before anybody knew what the numbers are -- be some Brian Wesbury was on.

And that is that was after the number -- seven point 6% on -- down.

And and then earlier is Kathleen Madigan right saying boy if everybody gets back in the workforce and not yet begun -- -- On what happened so that's the big -- huge political story this year -- -- it.

Is it will be in the one thing that we don't know yet is whether or not the jobs that we're seeing now -- if the economic if if there's economic confidence right now.

If people creating jobs now they would otherwise Ed.

Further down the line like closer to the summer or later in the spring.

-- are we stealing from further month.

I originally thought that in the past couple months particularly in the January report in the December report which were better than expect I thought we might see some weakness now.

Not only that we're seeing strength now.

And the revision of 40000 out for January is significant that means that there's real job creation going on here.

I think they've Brian's point is a good one it's tough to run against job creation you can say.

It's not fast enough you can say you know are we on you know we can have argument to -- on whether or not -- -- as six cylinders and -- -- -- But you know that the fact is that you are seeing real job creation and you can't.

The campaign against that so you know gavel line if -- if there if this does steal from.

You know further months.

Maybe that becomes more of an issue but I think there are other economic indicators that you're gonna have to to fight over not not -- threat of gasoline prices probably gasoline prices -- -- But let me -- -- -- you know unemployment in the seven you know seven and a half seven point nine whatever that's still too hot.

You know you you want to see that on placement rate lower you wanna sit around 5%.

Which used to be traditionally full employment.

It's still too high it's just makes it difficult to -- -- 22 campaign against it when that rate continues to go down month -- right right thank you so much of that ray Hennessey.

All -- the line about violently agreeing to may have been your best line ever -- that's exactly what they were I know that allows like wooden -- I think we each other like being at the breakfast tapes pop parents.

But I think the banks right agreement about the same.

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