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John Challenger of Challenger, Gray, & Christmas previews the September jobs report.
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The September jobs report just -- over an hour away.
The analysts are forecasting a gain of a 113 thousand jobs last month.
Joining us now on the phone to preview those numbers is John Challenger CEO of challenger gray and Christmas.
John good to talk to you this morning you came out with your your regular layoffs report.
Yesterday John why are -- in layoffs here every year are down more than 70%.
That's incredible but why.
Is the reduction in layoffs not translating.
Two big job gains at this point.
Got it's an interesting question if you take.
That companies would be pull -- Hire people when they're not letting their people go and not doing these kinds of layoffs but it's been a consistent picture.
-- throughout this year and it suggests that companies are kind of in.
Yet at stall speed -- just sitting where their path there machines and I got a copy of -- of them they're just humming away.
They're not willing to take any chances on growth department spend in the future so they're making doing what they apps that are hiring many people and they're also not letting many people go.
Because we've had these conversations -- this week with some economists and others even some that hadn't been.
Pessimistic in the past -- brought up this the recession term again and then we have others making the argument that things really are getting better and -- a people need to come down so as simple aside can put an.
I think they're getting slowly better I think we're still in this period of time that we've been in really for the last three years post the recession.
A slow growth.
The country is digging out of debt.
Whether it's consumer business our government that I you do it slowly -- that you don't have much money is spent nine.
Other things.
And you know countries then grows but job growth.
And years we've seen.
You know consistent job growth from the private sector just not.
Kind of -- but we need at least -- About three years where the job growth picked up in the -- order in the first quarter only this slide back.
In.
Numbers double if that pattern repeats again.
So you're saying it would take a major shock of some sort to reverse this trend John.
Like what.
That that might -- Is that we're still in that same month that every.
Literally be a shock whether it.
The ongoing crisis -- Europe maybe in new one that's coming in the Middle East.
That was that the fiscal clip this year.
You know -- few years ago we had -- Japanese nuclear situation.
And there are others until it.
You know the economy is this subject to.
-- -- -- -- certainly might -- -- recession.
But all these.
Ongoing and probably normal kinds of events are gonna occur today year in -- out.
Just keep the economy and growing.
The kind of is seen after other is that.
What had this debate last couple years and of course we're gonna continue to happen in a presidential year about the role government has.
In that recovery you know some have been saying and on the president's side they would.
They would like -- certainly to believe that this slow recovery is gist.
Kind of the nature of recovering from a crisis whereas others say the president could have done more and and government either could have played a larger role or by getting out of the way.
We would have had a better recovery than we're having.
What about from here on out can can government do anything else -- -- can government do again can do less than might.
Get the job market going a little bit more than in this.
Well I think government significant drag on the economy when act.
In the way that we've seen.
Whether regulatory agencies are seen by businesses that opponent.
Rather -- -- partners.
At least eight the taxes that are gonna go up because of the health -- New health care program on small business is certainly that takes away from small business does not.
They can't hire as many people I mean that in terms of you've -- there's not a money you've been.
-- each month and -- that goes up.
That is let -- -- go around so I do think that government has been a significant drag on the real wrote we might have seen.
Coming out of recession and over the last three years.
John thanks so much good to hear from me this morning John Challenger.
