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Markets Gearing Up for Jobs Data

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  • Description

    FBN’s Rich Edson previews the latest jobs report.

  • Duration 2:58
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-- as we wait for the jobs figure for the month let's bring in rich Edson Fox Business out of Washington to talk a little bit more about that said we've been looking behind the numbers rich and behind the headlines here this morning what's the big focus.

How well on the headline numbers specifically mentioned -- -- analysts expect the economy that about a 150000 jobs in May just enough to basically break even considering population growth.

-- -- -- beginning to the year monthly job increases -- well more than 200000 growth.

Has slowed this spring private businesses added to their payrolls only modestly last month 133000.

That's according to ADP -- macroeconomic advisors.

Analysts also forecast the unemployment rate to hold steady at about eight point 1% that number has fallen steadily over the past year.

By about a percentage point -- that's hardly positive news the unemployment rate.

Only considers those out of work able to work and looking to work when a job seeker just stops looking they're not counted pushing the unemployment number lower.

That's demonstrated in the labor participation.

Rates the percentage of those the proper age to be working and who are either working.

Or looking for a job -- that number has fallen steadily over the past decade from 66 and a half percent.

In early 2002 below 66%.

At the onset of the recession.

And downward cents to 63.

Point 6%.

Last month house that something that we will absolutely be looking at when these numbers come out that now acts.

Right if you do that every month for -- right it's especially important now that that that rate has been falling and -- that continues to fall.

Even more course this is a big political story you know if if the unemployment rate.

Were higher than it is should have a different conversation because it going back when you're talk about the labor.

-- -- -- labor force participation.

-- but we do have -- have quite a conversation anyway in an election year what's the lineup today politically is there one the president going to be out there was just the normal reaction and done.

How are they setting up to react to all of this before the number.

Well the entire campaign season and -- -- over the last six months and really the last couple of years has been a reaction to jobs numbers the campaign -- a reaction to the economy.

It's widely considered better for the president he's going -- November.

With with better job growth -- and lower unemployment numbers and I gotta tell economists about.

Two dozen statements that are already written Republican saying -- should be better if it weren't for this president the president pointed positive saying what we're still on the positives here.

So you're gonna get -- stand -- -- -- but they can't elect that fog what the numbers are going to be.

Looking for a 150000 we've been disappointed for the last couple of months so when you take a look in and drill down like like you were mentioning you know if the unemployment rate does fall below eight point 1%.

You're going to see a lot of folks turn that into a positive but if you're not seeing the robust job growth as a reason because of that.

That's a problem you're so right about that by the with the statements there was like XX written nominee -- -- -- that largely irrelevant aren't rich thanks we'll be back to our rich -- and and DC.

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