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It last month and -- -- only 100 to 4000 in July that's because the July number was revised down owner.
That is a whopping downward revision.
And we've got a 35 -- local what's called the participation.
Rate just of a 63%.
That's a signal that America is not working let's get back to pull Conway -- -- and the McDonnell.
Like first I'm digging into these numbers -- C retail employment up 44000.
Leisure employment up 27000 -- a low paid jobs.
I -- 3121000.
People dropped out of the lay before us that's -- the participation rate is so low.
You called this lousy.
I'm saying that President Obama and his policies have changed the structure of the -- force in America go.
-- you're absolutely correct any time you have a law like the health care law that is passed restart government redefining a full time.
Work week as thirty hours and instead of forty hours that's a fundamental shift but what you also looking at now -- sustained.
Long term dropping out of the workforce and that is not a good thing.
For the country it's not a good thing for competitiveness and most importantly.
This is not a Republican or Democrat issue this is -- fundamentally American issue.
If you have that many Americans were not working and not -- the skills they need for a lifetime.
Income in lifetime production that is an American issue of competitiveness Stewart and actually what.
It's time that the president look at this thing and say look -- driving policy after people.
Where are the people let's start driving the policy to relieve them and let business owners create the jobs and employed people.
OK Richard I want to bring you into this because I'm look again I'm digging inside this report and I see black -- -- moving up above 13% to -- -- at thirteen point 3%.
Up from twelve point 6%.
African Americans with a key constituency group which really helped propel president Obama's reelection and now that group of people.
Is clearly not doing well.
-- Well in this group that group has been -- -- the present I have to agree I think the unemployment problem was American public think that was been cheated by the congress.
I think what we need to see what we should have seen from this congress starting two years ago was an investment in the American worker in -- in the American people that's what FDR did.
And that's what got our economy back on track and that the we need to continue to move -- before there's one thing that I do want to put on the labor report that I so that was very interesting to me.
Is that the average -- average time worked by an employee increase which means there's been a lot of rumor and speculation about the fact that Obama -- called the folks to decrease their hours.
This since that is increases so -- to me that.
Businesses are adjusting well to the fact that their old that the obamacare -- to help cause coming into -- -- I think the sort of says to us Stewart that.
You know I think the business market is adjusting to the health care law.
-- -- -- but -- not rumor and speculation when you have the Federal Reserve districts reporting in through the page book let me give any information.
They're saying it is better -- -- the group as saying yes companies that -- health reform is a factor in their hiring Atlantic Kansas City Philadelphia Richmond Chicago and Cleveland.
Those -- the facts -- of the company's reporting and Mercer consultants he's saying.
One and tell you that they're saying that you know what health reform is an issue with hiring I had an -- about -- -- number society we have Richard -- -- the AFL CBO now saying yes he's very -- -- is driving higher the part time work.
But I hear that -- but if you look at the numbers and the numbers don't lie it says that the average amount of hours worked per employee is increasing.
-- I think that's -- that's something to either don't get -- we could put lipstick on pig you're this is not saying we're not things the good report.
But I think that is the good indication like I Saddam before the break the other good indication here that the American look -- that -- adding jobs in the government sector.
-- nothing -- but I want to point out is that we're also adding jobs in leisure.
All men and in the hospitality and services -- that people are spending discretionary income yet but it's -- Richard that's the truth I'm wondering have we -- the -- -- -- will solve that problem I spoke with us and if it's important to do it.
Thought we could get voted out.
Picked fifth by April -- -- I want you to look for the future -- give me thirty seconds do you think.
All we really gonna see much improvement in this labor market in the immediate future.
I don't think you are -- that there are some baseline Elvis here you need to get 300000 jobs created per month in order drive unemployment down substantively you need a 150000.
Jobs per month created at a minimum to absorb new workers.
I don't see -- see the growth happening here I don't see the economic recovery -- that the president wants to talk about.
And I think -- PPL S ought to do is -- Max factor to put lipstick on the pig remark.
This is just not happened that was.
Rule -- can't win you know let's get a good bit -- -- jealous I thought -- but we thank you very much feel honestly -- for being with us this morning on a very big day thank you -- But stocks that are.
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