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This is -- -- reported.
This was upgraded it from -- It's 8 o'clock we are thirty minutes away from one of the most closely watched economic reports of the month the April jobs report fox business's Peter Barnes has a preview of what we can expect from the Labor Department.
Well -- on the consensus estimate is for a 170000.
New nonfarm payroll jobs for the month of April up from a 120000.
In March the unemployment rate expected to remain steady.
Unchanged at eight point 2% 175000.
Of those jobs will be private sector jobs according to the consensus estimate.
Because it is expected that the government will have shed.
About 5000 jobs in April big policy implications -- for this report today because that that's a low number.
That could indicate that the economic recovery.
And job creation is starting to stall out which might.
Push the Federal Reserve to launch more stimulus Adam back to you.
Their -- the labor department for more on what we can expect from that jobs report Dow Jones columnist Kathleen Madigan joins us on the telephone -- good morning to you Kathleen very quickly and know that in the past.
The drop in participation in the labor force has been one of the reasons we have seen the unemployment rate actually declining -- do we expect that -- stoppers that gonna continue.
And I think it's gonna hold steady but that's still means that there are millions of people out there who.
-- job they just aren't looking -- they are considered.
If we don't consider them officially unemployed are we getting -- -- -- on the actual numbers.
Yeah yeah we definitely are and that's -- the Labor Department actually put.
Another measure of what they called underemployment.
Which includes people not looking to encourage workers people who -- full time work.
But can only find part time jobs and that rate is about 16%.
And we're also seeing a number of revisions -- -- for instance the initial claims for unemployment benefits.
We always get revisions to the jobs numbers -- -- on Wall Street traders and investors are starting to have doubts about that.
Accuracy of the numbers is that now spilling over into the monthly jobs report as well.
Yeah well to monthly jobs report Ali gets revised its that in the previous month.
I'm not sure that in this in recent months of the divisions have been bigger than normal but -- they definitely.
Bloated and I wouldn't be surprised -- march.
From that one twice because that's just seems so extraordinarily low -- it might get revised higher.
And quickly Bob Ben Bernanke recently in an interview said that the number 150000.
Was kind of key for state -- stabilization in this economy -- 150000 jobs created.
I thought it used to be 200000 when did we lower our expectations.
Well I think again it -- speculator participation grade and -- number of people who have retired which kind of you know permanently lowers.
The pocket of the working population.
But you know even if we get 150 -- points -- -- stabilization we still stuck with 8% unemployment.
Kathleen Madigan thank you for joining us we will get the unemployment numbers and roughly thirty minutes Peter Barnes will have them live for us on the Fox Business Network -- good morning to -- -- It's called the most exciting two minutes in sports and tomorrow's 138 the running of the Kentucky Derby is expected to be nothing short of exciting.
The business of thoroughbred racing -- thought only for the elite.
Is becoming more accessible to those of us without a few extra million disband that includes Lawrence him and -- who is live at Churchill Downs and we know.
She's left the man's land on his her husband here in new York and she's donning some pretty sporting hats there -- you don't mind.
I don't you like it do -- like they had -- -- Do you like Manhattan.
Limited to our incentives where it honestly out it's like -- -- your husband to look at.
I'll never again -- get down -- cents on that one.
Well outcome to the 138.
Running of the Kentucky Derby this is -- weekend so happy interviewed everybody my husband -- this is the folks we will have.
The -- is a three year old -- running today.
Just to give you some idea of the trifecta of evil that we -- in right now Adam this is like hometown -- -- -- News and tobacco as firm that -- Horse racing is a nearly eleven billion dollar industry that's better -- Hollywood tomorrow -- -- As you're saying in your intro to me -- ownership -- up -- prior to this huge thing right now.
Typically don't look like a thousand dollars an -- own of course and that -- -- -- -- animal kingdom we're going to be talking to his owner.
Later on today I actually don't like twenty different owners they had a big day coming up we're also gonna tell you about the 1000 dollar may Missoula.
With the senior vice president -- -- and that's all coming up throughout the day that's yet.
All right -- him and Eddie betting booze and tobacco could got eighth avenue for that you have a day.
Imus in the morning coming up.
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