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I think in the right direction he joins me now along with employment industry advisor a advisor to leverage it into -- start with you because you know getting it now the market -- have some time -- -- -- go through these numbers and see what's it in the details here.
And particulates about job quality the types of jobs that are available we're still sing a big push for those lower paying jobs.
Those high end jobs though not coming.
And what does that mean.
Well I think what we're seeing to it that companies are still cautious about hiring even -- we had a good jobs report.
Over 200000 jobs being created construction came back strong which was a really great sign.
But at the same time.
What -- still a lot of opportunities for companies to add to their payrolls and I think we've seen CE o.s CFOs they've been a little cautious about doing out.
It's starting to get some movement felonies jobs -- coming back.
Let's look at some of these sectors here as -- look at the seven point 7% number award because if you look at professional business services gain of 73000.
48000 obviously that's -- To the housing market health care 32000 and then retail what is -- say in your opinion about the economy do you think that these higher level jobs.
Coming -- professional services mean more money put into the economy -- -- GDP.
Well what what's important is that we've we've just generating jobs and we on generating them in sectors that we need to.
-- pointed out constructions coming back and that's much of this our recovery we have seen an absence of -- construction so that's a really good thing.
And I think much of this has to do with the fact that we are finally getting some clarity on the fiscal situation.
They decided not to have a big spat over this sequester and I think that's good so they've -- the economy's resilience I think that will continue to get job growth.
But it will still think it's about another year before we have be punished all the jobs that we don't we lost.
During the recession in the labor market.
But yet you know -- -- if you back off for -- a look at the three month average here that's only 895000.
Mean I'm sorry but I think it takes about 300000.
Or more to really get true meaningful job growth in this country where we are far from that right now right and if you.
Really break down the factors and look at it manufacturing.
-- have to add one point seven million jobs to get back.
To the levels where they -- -- before you can do that written just for about -- sectors so yes we're seeing health care come back and read talent.
Construction in the professional -- business services even temporary labor which you know I spent a lot of time in that came back 161000 jobs this month.
I think it shows you employers really are hiring differently and their -- people at all levels.
I'm in our organization even on a contract.
You know warning even if you look at the year -- -- number I was that was you're like average for jobs data but if you look at the year -- your number for wage growth average hourly -- got that only about 2%.
Is that enough war.
-- -- not really effect that's one of the unique features of this recovery.
We've seen the unemployment rate come down by more than two percentage point point -- average hourly earnings remain mired at the low end of our.
Over range that tends to run from 2% to 4% over the course of the business cycle.
But that's just an indication of the the amount of surplus later we still have out there we.
The if you look at the private sector for example.
We lost eight point eight million jobs during the tough times right and we still have about two and a half million jobs to generate before.
We'll have just replenish those and that's not really even taking into account.
The people who are trying to get in the labor force you know the younger folks you know John Avnet upstart work at this finish.
Let's just say so let me we should be happy that we've come a long way it's been it's been knocked contract -- fight for that.
Throughout this recovery both for overall growth in the labor market.
But what I think we should be -- recognize how far we've come.
And that we I think we will see a return to normalcy sometime over the next one to two year time horizon for the labor market.
One to two years but yet here we are with the stock market that continues to hit near record highs -- and once again today.
That many have asked me why are we ahead -- the stock market ahead and saying well this maybe the stock market is six months ahead what you're telling me.
One to two years something in the stock market has it wrong here.
No I don't think the stock market has Iran are good stock market disconnected from the economy quite some time ago in fact.
The financial markets in general in my opinion did and that's because of what the central banks and in particular what the Fed is up to.
IQ -- is all about.
Trying to raise asset prices right and I think on that front you have to say the Fed certainly succeeded as far as equities.
And sir Ben Bernanke that they Canada's last word do you Johnny really put you -- talking about as high and temporary workers contract workers that are making high salaries.
Those jobs are coming back how back -- those jobs are definitely coming back I mean I think that there's opportunities.
Really for people that are looking to get back to work even getting a temporary jobs could lead to a permanent job in the future.
Companies need to start hiring they can't sustain.
You know they've cut back they've cut costs they reduced salaries but now's the time they need to start hiring -- investing in their -- But warn you know I know that your economists and I -- wanna get real authority airport if if you look at the overall economy and I I go back to that wage quality issue what Joni is saying here.
As -- that high and contract -- that temporary CFO of the company if you will he's not getting a full time job that's -- he says that we're not completely confident.
Well I think -- -- we're not completely confident but what is good thing is that we continue to hire workers on a temporary basis.
And for many companies -- doing that really is a way of feeling out potential new hires so when you see the the temporary.
Help increase on a monthly basis that usually a pretty good sign that you're going to continue to see hiring in the business sector.
All right Johnny -- and ward McCarthy thanks to but -- got some breaking news coming in -- Fox Business thank you very much okay.
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