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Wayne Rogers & Co. chairman Wayne Rogers reacts to the disappointing unemployment data.
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GOP presidential candidate Mitt Romney -- less than impressed with the jobs report out this morning he joined fox and friends with his reaction.
Take a lesson.
Well we should be saying members in the 500000 jobs created per month this is way way way off from what should happen in a normal recovery.
The reason that you're seeing the unemployment rate go down is because you have more people dropping out of the workforce.
-- you have getting jobs it's a it's a terrible and very disappointing report this morning.
Let's bring in Wayne Ross is chairman of white Roger think company joining us now from Pensacola Florida -- -- it.
Birth can we get -- -- 100000 jobs a month and how.
Well I'd be very difficult in the short -- in the short run it's gonna take a long time for example you take the construction industry where we've lost a lot of jobs over an extended period of time.
Why because the housing business is down now.
Arguments as well demand for housing is going up yes that's true when you've seen certain housing stocks rise recently.
All of that is true but at the same time that -- -- constricted from blended.
So you're not go to see a lot of house purchasing going on there -- demand for housing but isn't the demand for the money to.
Create -- thousand.
That makes won't -- because of the new -- so it's it's and it's have been terrible problem because you've got systemic loss in the in the job market from that.
You haven't in a number of industries and allow this by the way this they point 1% data which shows that -- its declining the rate of hiring as Romney pointed out.
Is decreasing so is a consequence what you have -- people who have left the market and these numbers hide some of that.
How do you get them back end and -- we are we in danger of a negative cycle developing where people get so discourage and then they see these numbers.
And -- these numbers of people leaving the workforce continue to Paula.
Well I I think I think yeah I don't know that you turn it around so quickly look at don't -- -- big idea.
-- sudden -- certain jobs that have gone overseas are never coming back for example you take the apparel industry -- New York City you talk about they.
Garment center.
There is -- garment center any mark all of those jobs are gone they've been gone for probably half a generation.
They will be gone forever because until such time because you have to train those people of those people require.
I certain skill level if they have -- for a generation that skill level is disappeared.
And that's true in many industries the guy who does rivets and does those that he's gone he's replaced by a guy who operates a numerically controlled -- if he's not trained properly that job is gone forever.
When it was good to talk to you will see very saying you'd be well have a great weekend and I hope the weather -- thing on me in Pensacola.
And half thank you -- it is a gavel coming up.
