Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Is It Downhill from Here for Jobs?

Details

  • Description

    University of Maryland economist Phillip Swagel on how the sequester will affect unemployment.

  • Duration 3:11
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- marginal though isn't alright Peter bombs thank you so much it okay.

OK so and that's -- hot not too cold our next guest says this globally -- jobs report is just right for the Fed to continue easing.

Joining us now American Enterprise Institute economist Phillips wiggle Philip thanks for being with us.

Look at it you know this whole notion that -- not too great not too terrible.

Does it give them reason they keep going though I mean we know it's coming for a little longer but.

You can argue there's a reason ended -- now.

Bad enough that the Fed has got to be looking at the -- -- -- okay this is progress but is not quite enough aren't unemployed rate is high.

And down the labour forces is still shrinking really wanna see people.

Look at the lay before at the economy -- -- is strong enough on getting back in I think that's what the Fed is going to -- wait for.

And that's not happening really is sick I mean -- -- got a lot of people on the sidelines.

Peter -- just said that -- the participation rate.

Was 15%.

In 2012 and now we've drops if that's what you want to close to fourteen point three that's pretty pathetic.

Yeah I you know the unemployment rate that the broad -- -- included people who want to work -- and can't find a job as full time.

It is an indication that there is still.

Significant weakness and in labor market -- I mean things are getting better is for sure and that's welcome news.

But we still have a long way to go to undo the damage of the last several years you know and you worry that this might be the last good when we see for awhile because this is priest sequester right in.

The CBO says we're gonna lose about 750000.

Jobs in 2013 because this sequester so.

Is it kind of downhill from here.

Now yeah I don't I don't think so and I'm still pretty optimistic I think everything is overblown about this Questar.

Right -- catastrophic give impacts to the White House tours and all that and look he'll be some negative impact but I think the economy is gaining strength.

In the sequester what was -- -- a little bit but not not too much.

Kids need those White House -- by the way I see -- in treasury from 20062009.

You know looking and now back.

Well what would you say to someone in treasury -- out what should they be doing to help this economy.

You know I I think it's time for US to look at a longer term.

Right that's the fiscal situation over a longer term is really challenging and -- Social Security Medicare health spending.

We need to address that we don't need to do all at once but we need to start putting those -- he's into place to address the fiscal challenge.

That that really needs presidential leadership sides say look.

We now have the states that the economy's getting better to do this long term planning.

We are seeing a -- well little bright spots right we saw construction spending go housing starts are picking up.

Is that enough difference in make you -- -- you know what maybe we are on our way to some sort of a long term recovery.

You know -- it looks like get consumer confidence is is gaining as well and really hands for 30 we've had this kind of.

False dawn every spring the economy sex and so I I certainly -- -- -- that.

-- I think the pieces are in place for us even more optimistic this time around now.

Yeah I'm with you this could be the last -- little breaks but we see if -- allow Philips to wake up thank you so much for being with us thank you.

Load More