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Going to go over into San Francisco to David -- and he's a columnist at MarketWatch and the Wall Street Journal for some market reactions.
David what's your take away from this jobs report what do you think it's going to do to the markets and we seemed features before the market opened bouncing around a little bit and then going into the rat.
Yeah I think that's you know early on it look like this report.
Didn't really move the needle with investors either way.
And now they're sort of some.
There's some that there's some slight disappointment built in but.
I I really don't think that this is gonna have sort of you know big market effect that a surprise to the upside or real disappointment would have so.
As Peter was saying you know this was a mixed report.
And it all comes down to what the -- going to do in September whether or not they're gonna start that tapering program with stimulus and I don't think this report.
Really gives investors enough.
To make a decision are confident decision about what the -- gonna do I don't think it gives the Fed enough information.
22 at this.
To go forward with the taper program which is kind of a backdoor stimulus.
That's true and and look at the breakdown of jobs are people who are actually looking for employment right now we see.
More people getting hired a private sector than the government obviously if you if you're looking for a job and you're watching this show.
What is your take on what the stock -- means to the average person.
On the hunt with a -- -- enhance.
Well you gotta be in the right area I mean I think there're a couple of things in the report.
That that showed where the strength is in first are unfortunately I think you know there's some part time -- seem to be plentiful.
And I know that that's not an attractive.
You know most people wanna be employed full time -- you know so unless you're looking for part time job.
First of all that's the first discouraging thing.
But but there are some nice there are some areas that seem to be doing well and and -- and hiring is going on retail was very strong.
Manufacturing with very strong.
But the one industry -- really took a blow after the financial crisis and the recession.
Construction work that continues -- through to lag a little bit and we and we saw some declines in hiring and that.
In that area and and that's -- the bulk of the jobs were lost in the recession -- -- there's a lot of people out there.
Who worked in the construction industry wanna get back into it the money's good and and what are that's -- that's a great industry for an economy that's recovering.
So if you look at that particular sector it's a little bit disappointing.
-- were also getting some viewer reaction here this one from Fox News is US and see that -- Marine Corps vet.
It seems -- -- weighing in on the temporary and part time workforce.
Wondering you know with these job numbers what that means.
For temporary and part time workers obviously a lot of people have switched to looking for part time work because they're unable to find full time work.
But what is his job as the reports say on that front.
Well as I said you know those those jobs -- are probably more plentiful.
Then -- a full time job and and there and they're really.
You know one big reason for that may be benefits you know we're looking at higher costs for employers with obamacare coming down the road.
Employers that they feel that they can get by with the workforce that they have maybe supplement with part time workers.
Then they're going to try to -- boring.
Making those full time hiring decisions and having to pay out all those benefits -- it's probably more likely if people are looking for from.
For part time work they're going to be able to find it.
It's finding those good jobs those full time jobs with those benefits.
That still seems to be very difficult out there.
And I -- and that's how do we have another question from a lot FE -- one of our viewers.
And this person is wondering I'm if you work two part time jobs.
Kenny counted his two jobs added to that that jobs number that we got in this morning.
I don't help.
I yes I guess yes they can mean a part time job is is counted as a part time job in in the in the survey.
And if you have two -- -- then and you were hired.
That he does so the -- -- -- counted as one person in the survey.
With -- job so I.
-- -- The answer is yes.
Excellent thank -- I'm still go back to you what year old.
Well we're expecting for obvious you know obviously if that will be watching August as closely as there are watching July -- kind of walking away from July thinking that you know there.
Is it really that much new information it's unlikely that they're going to -- based off of this type of report.
What are your thoughts on August any projections and looking -- hat.
Well you know I think that I think there's a couple of encouraging things.
For one you know interest rates are low so so so businesses like the automotive industry which seems to be really searching we saw us we've seen.
Great numbers the auto industry some the best numbers since in five or six years.
If that continues to hold with interest rates low that's gonna encourage the -- because that seems to be a growing part of the economy.
I don't think the Fed is going to be interested in and possibly.
You know and coming -- up at this point.
Low interest rates also help housing and construction.
I think the Fed is going to be under pressure.
Two to hold off on the taper it to hold off on on.
On on our -- back.
Some of this backdoor stimulus that it's been doing with this bond buying.
And you know we saw today interest rates on the ten year treasury.
Ticked down a little bit in that basically means that investors are coming into it -- And the sign and that sign is that.
There there might be a little bit of sentiment out there that maybe the Fed is going to hold off.
On actually pulling back from his stimulus.
-- -- thank you so much for being with us today.
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