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The Wall Street Journal’s Stephen Moore and The Manhattan Institute’s Steve Malanga discuss the latest jobs report
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-- -- bring in nasty maligned here at the Manhattan institute and Steve Moore from the journal for their taken all this thank you Peter Steve -- you first what do make of it.
Well you know the reason they called the headline unemployment rate is because of the headline and how will be.
Some point 7% -- a -- which is a good a good number certainly a big improvement.
But you know way I'm economist abide by that kind of salad bowl of all of these numbers because it does look and I haven't -- to go through this report thoroughly but it does appear that we're seeing the continuation.
-- -- -- that's really been happening now for five years and it's very disturbing as an economist.
That more more Americans are dropping out of the workforce they're either there either unemployed or they're not looking for work then you can't have a solid economic growth -- 345%.
That we'd all like to see if people are.
-- allowed in the labor force and I find that the B.
Maybe the most important statistic -- -- how many personal what percentage of people who could be working are working you know now we're at about.
As I recall I think we're as -- as -- bands since the early 1980s.
And that number hundred.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well -- -- 300000.
-- the heck that's where you can.
You -- -- more -- the Carlisle he steps you are five years after yet.
And I think when you look at the jobs report to me one of the most of the most important numbers really -- jobs -- repaired because we know how many jobs we need as you say.
To absorb new population.
And people who are out of the workforce if you -- to chart.
New job creation and compared to other periods including other post recession periods this is -- is.
Very very mediocre so I mean one thing to do isn't it is to understand that it is -- -- How many jobs are we creating an and he started and this is a very low number.
I mean I guess the recession officially ended somewhere early 2000 you know this is a very low number.
Almost three years after more than three years after that the on the day to day part of it it's better than the expert.
