Also in this playlist...
This transcript is automatically generated
Well green jobs reports out today and then is not so -- may initial jobless claims higher than expected eighty fear reported fewer jobs created last month.
Challenger gray and Christmas reported -- job cuts of 53% in May from April or -- right now by Scott Brown chief economist at Raymond James.
Let's talk about these numbers -- as Scott and -- -- -- surprised at all but it every got a particular with ADP today.
I know wasn't a huge mess relative to expectations I think the consensus was looking for around 150 so.
Wasn't that much weaker.
But it does I think set up but we can't -- expectations heading into tomorrow's payroll numbers which are obviously a lot more important for -- markets.
OK well 1% that's expectation that we've got -- -- -- -- tomorrow again this could be a game changer -- like new do you think that there's going to be any.
Extra lowering -- forecast this afternoon as we get ready for tomorrow morning.
And then maybe some and west first met some people may revise their numbers on the payroll figure tomorrow on I think certainly the market's going to be braced for a downside surprise -- if it comes in as expected or better -- it actually be -- For the markets.
We're also ridiculous is got an answer it we're also getting -- -- revisions for another we're not shocked zero visions.
But they were to the down socked.
Well that's certainly the -- the ADP numbers weren't too too far.
Removed from what they were stated as previously.
But I think import bigger numbers that we had a very unusually mild winter and and so we have a lot of stronger job growth earlier in the year.
The march April numbers have looked weaker by comparison and that and make stretch into may as well.
This is typically the time when firms are hiring you don't see corporations out their -- -- much due to the details of the ADP that's the one.
Nice thing about the ADP is a has a breakdown by size of the firm.
You're still seeing a lot of -- of growth in in small and medium size firms not quite as strong as we saw nearly part of the year but that's a critical part of the recovery process those those smaller firms hiring.
-- that there's that's partly credit story bank credit to smaller firms has had been tightened considerably during the downturn.
That's starting to ease up a -- But more importantly I think it's of the final demand these firms are seeing increased demand -- not booming by any stretch of the imagination but did you know it's definitely recovery here.
OK well recovery but any negatives mentioned small business yet -- -- the services sector has been doing a lot of hiring.
Over the last few years but those are -- -- wage occupations.
Doesn't that hurt the overall economy Scott.
Some of the -- as a retail jobs and certainly certainly arbatov lot of the small businesses.
My the -- -- start -- is is normally we're gonna look for a lot of the job gains.
In an expansion and you know that those smaller growing firms.
What you need in this kind of recovery and don't we help with its gonna broaden out in and strengthen in the months ahead.
We saw some headwinds here in the US obviously Europe is.
That that's depressing the markets there's we -- the equity markets.
On the other hand you get some benefits from that in terms of lower energy prices gasoline prices should be coming down a lot more.
Commodity prices in general should be coming down that's helped convict a consumer alternate rates and -- is gonna help the housing market.
-- say I mean we need something that's for sure Scott Brown thank you very much Raymond James appreciate at.
Filter by section