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All right -- 169000.
Nonfarm -- jobs -- -- economy last month unemployment drops to seven point 3%.
Basically a disappointment your take on the numbers.
Yes so you look at these numbers particularly those so called headline numbers on the unemployment rate.
And payrolls and typically there are through the dominate first of all the unemployment rate went down with seven point 3%.
At first glad good news.
Payroll continued to expand that'd be not.
Down the great 169000.
Number of job there were out of the economy last month.
But then upon closer inspection the reason why the unemployment rate went lower was -- negative reason fewer people looking for work -- birdman.
And -- -- -- and the number of jobs that it over the past the read really lackluster now I'd just below 150000.
Barely enough to keep pace of growth in the population so this is not right now very positive story.
Right so basically what you're saying is it's got to place pilot.
Great it looks great from a from far away that we find out within it you don't really want it anymore -- -- I want to talk about the the unemployment rate and like you said one of the reasons for the decline was bad news.
-- -- more than 300000.
Americans gave up looking.
For work so they were not counted as unemployed.
On labor force participation rate at the lowest level since 1978.
Right now what does the Federal Reserve when they meet September 17 and eighteen.
What do they do some things.
Well first of all they -- in the room for two days and is that consensus driven body led by Ben Bernanke and I I really think that it.
Possible right now that those apple would be members don't really know what they're going to do.
What they want to do is eventually -- all the extraordinary stimulus.
That the economy particularly over the past year they.
85 billion dollars the play asset purchase we know that apple would -- members are concerned about the unintended consequences of that policy.
Why it may be doing the economy that is also.
And so we know over time and in the not too distant future they want to begin pulling back from 85000000075.
Below that to -- -- Over the next twelve or so run.
But the question right now is economic momentum is actually waiting picking up and mr.
Bernanke would -- These stimuli.
Are not going away just because.
But -- -- -- -- There's all these asset purchases.
That are cumulative I don't have that -- that.
Commissioner you for a second until the challenger little that you said the economy is waning.
And you know.
Let's consider the fact that obvious auto sales were buying new cars at the fastest pace since before the recession.
In six years.
Look at -- two ISM numbers we had out this week on manufacturing as well as the services sector.
The fastest expansion.
In eight years so we are seeing signs that the economy is picking up unfortunately.
That's not extending to.
The fact that companies -- parents hire more workers.
Right so those numbers are not sufficient or growth overall.
We know that Bernanke and colleague.
Pretty much the same as most Americans.
View the most important metric of the economy is the job market and the job market is.
Really just marching in place right now.
Let's look at the positives in their report I -- one of them is the fact that in August paychecks that a little bit bigger.
Average hourly wage is up by -- to 2405.
I mean is that good source at the best news we've yet.
I'm going to ask you this are you gonna spend all that in one place you know.
You know that the the the issue is so over the past twelve months those wages have risen.
A little more than 2%.
And those are among the individuals who are actually a boy you know so.
That doesn't tell the picture of the broader economy the weight gain or the economy during that.
Generally sub par recovery have been themselves -- far and hey the -- like that from the standpoint of keeping inflation and play.
But it also means.
We're not going out -- doing great business with retailers overall yes you're right.
Are -- book phenomenal but that's not hearing over the entire retail sector because.
People don't have.
The money and would -- what do you think that means for the holiday season when businesses can do 40% of their annual.
Sales in the last couple months -- -- what do you think this -- for the holiday season.
-- -- National Retail Federation last year called for a game during the holiday season.
One that we went through you know nine -- ten months ago.
About 4% and ended up being a little better -- a gain of 3% I don't see any reason out there.
Or any improvement.
Beyond that kind of the year over your game so I think it's really in many ways the same old story don't look for.
Anything much different than what we saw last -- with a big.
Mark hammer and thank you so much for your thoughts Bankrate dot com.
What are you here to have a great weekend you -- thanks so much.
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