Transcript for Employers add 339K jobs in May
EXTREME POSITIVE EMOTIONS CAN
LEAVE YOU WITH A BLANK SPACE ,
LEAVE YOU WITH A BLANK SPACE ,
BUT WE BEGIN WITH THAT BETTER
BUT WE BEGIN WITH THAT BETTER
THAN EXPECTED JOBS REPORT.
THAN EXPECTED JOBS REPORT.
THE LABOR DEPARTMENT SAYS
THE LABOR DEPARTMENT SAYS
THE U.S. ECONOMY ADDED
THE U.S. ECONOMY ADDED
THREE HUNDRED
THREE HUNDRED
THIRTY NINE THOUSAND JOBS LAST
THIRTY NINE THOUSAND JOBS LAST
MONTH WHILE THE UNEMPLOYMENT
MONTH WHILE THE UNEMPLOYMENT
RATE ROSE TO THREE POINT
RATE ROSE TO THREE POINT
SEVEN PERCENT.
SEVEN PERCENT.
ABC NEWS BUSINESS REPORT
ABC NEWS BUSINESS REPORT
ALEXIS CHRISTOFOROUS HAS MORE .
ALEXIS CHRISTOFOROUS HAS MORE .
ALEXIS , WHAT DOES THIS REPORT
ALEXIS , WHAT DOES THIS REPORT
TELL YOU ABOUT THE JOB MARKET
TELL YOU ABOUT THE JOB MARKET
IN THE ECONOMY IN GENERAL?
IN THE ECONOMY IN GENERAL?
IT TELLS US THAT WE HAVE AN
IT TELLS US THAT WE HAVE AN
INCREDIBLY RESILIENT JOB MARKET
INCREDIBLY RESILIENT JOB MARKET
AND ECONOMY.
AND ECONOMY.
THIS REPORT DEFIES
THIS REPORT DEFIES
EXPECTATIONS.
EXPECTATIONS.
THERE WERE A LOT OF HEADWINDS
THERE WERE A LOT OF HEADWINDS
THAT THE JOB MARKET HAD TO JUMP
THAT THE JOB MARKET HAD TO JUMP
OVER LAST MONTH TO PULL OFF
OVER LAST MONTH TO PULL OFF
NUMBERS LIKE THESE HIGHER
NUMBERS LIKE THESE HIGHER
INTEREST RATES AND STUBBORNLY
INTEREST RATES AND STUBBORNLY
HIGH INFLATION.
HIGH INFLATION.
YET THE ECONOMY ADDING
YET THE ECONOMY ADDING
THREE HUNDRED
THREE HUNDRED
THIRTY NINE THOUSAND JOBS.
THIRTY NINE THOUSAND JOBS.
WE WERE EXPECTING
WE WERE EXPECTING
ONE HUNDRED AND NINETY THOUSAND
ONE HUNDRED AND NINETY THOUSAND
JOBS, BY THE WAY,
JOBS, BY THE WAY,
THE UNEMPLOYMENT RATE STILL
THE UNEMPLOYMENT RATE STILL
NEAR A 50 YEAR LOW OF
NEAR A 50 YEAR LOW OF
THREE POINT SEVEN PERCENT.
THREE POINT SEVEN PERCENT.
JOBS WERE ADDED IN PROFESSIONAL
JOBS WERE ADDED IN PROFESSIONAL
AND BUSINESS SERVICES,
AND BUSINESS SERVICES,
GOVERNMENT HEALTH CARE,
GOVERNMENT HEALTH CARE,
CONSTRUCTION AND TRANSPORTATION
CONSTRUCTION AND TRANSPORTATION
WAGES WERE ACTUALLY UP
WAGES WERE ACTUALLY UP
THREE TENTHS OF A PERCENT.
THREE TENTHS OF A PERCENT.
THAT WAS IN LINE
THAT WAS IN LINE
WITH ESTIMATES.
WITH ESTIMATES.
SO NOT REALLY INFLATIONARY.
SO NOT REALLY INFLATIONARY.
THERE.
THERE.
BUT, YOU KNOW, EVEN THOUGH THIS
BUT, YOU KNOW, EVEN THOUGH THIS
IS A ROBUST JOB MARKET, PEOPLE
IS A ROBUST JOB MARKET, PEOPLE
ARE STILL HAVING A HARD TIME
ARE STILL HAVING A HARD TIME
FINDING THE RIGHT JOB.
FINDING THE RIGHT JOB.
AND I HAD A CHANCE TO SPEAK
AND I HAD A CHANCE TO SPEAK
WITH LINCOLN'S CAREER EXPERT,
WITH LINCOLN'S CAREER EXPERT,
KATHERINE FISHER, AND SHE HAD
KATHERINE FISHER, AND SHE HAD
THIS ADVICE.
THIS ADVICE.
>> SO WHAT YOU REALLY WANT
>> SO WHAT YOU REALLY WANT
TO DO IF YOU'RE LOOKING FOR
TO DO IF YOU'RE LOOKING FOR
A JOB RIGHT NOW, IS BE REALLY
A JOB RIGHT NOW, IS BE REALLY
CLEAR IN TERMS OF THE SKILLS
CLEAR IN TERMS OF THE SKILLS
THAT YOU HAVE.
THAT YOU HAVE.
MARRY THAT WITH THE INDUSTRIES
MARRY THAT WITH THE INDUSTRIES
THAT ARE HIRING, DON'T
THAT ARE HIRING, DON'T
BE BEHOLDEN TO THE INDUSTRY
BE BEHOLDEN TO THE INDUSTRY
THAT YOU MAY BE WORKING IN
THAT YOU MAY BE WORKING IN
RIGHT NOW OR WANT TO WORK IN.
RIGHT NOW OR WANT TO WORK IN.
>> YOU WANT TO GO TO WHERE
>> YOU WANT TO GO TO WHERE
THE JOBS ARE.
THE JOBS ARE.
AND THAT ALSO MEANS KEEPING
AND THAT ALSO MEANS KEEPING
YOUR CONTACTS SHARP.
YOUR CONTACTS SHARP.
SO SHE ALWAYS YOU ALWAYS WANT
SO SHE ALWAYS YOU ALWAYS WANT
TO BE NETWORKING IS WHAT SHE
TO BE NETWORKING IS WHAT SHE
ADDED.
ADDED.
I KNOW, BUT IT'S SO HARD
I KNOW, BUT IT'S SO HARD
SOMETIMES IT'S A JOB IN AND OF
SOMETIMES IT'S A JOB IN AND OF
ITSELF TO FEEL THAT WAY
ITSELF TO FEEL THAT WAY
SOMETIMES.
SOMETIMES.
ALEXIS , HOW DOES THE BACK
ALEXIS , HOW DOES THE BACK
AND FORTH OVER THE DEBT CEILING
AND FORTH OVER THE DEBT CEILING
FACTOR INTO ALL OF THIS?
FACTOR INTO ALL OF THIS?
>> YOU KNOW, THERE WASN'T
>> YOU KNOW, THERE WASN'T
A DIRECT CORRELATION, BUT IT
A DIRECT CORRELATION, BUT IT
WAS JUST ONE MORE HURDLE,
WAS JUST ONE MORE HURDLE,
ONE MORE CHALLENGE FOR THIS
ONE MORE CHALLENGE FOR THIS
ECONOMY TO JUMP OVER.
ECONOMY TO JUMP OVER.
AND IT'S INCREDIBLE BECAUSE
AND IT'S INCREDIBLE BECAUSE
GIVEN ALL OF THE HEADWINDS,
GIVEN ALL OF THE HEADWINDS,
THE JOB MARKET STRONGER THAN
THE JOB MARKET STRONGER THAN
EXPECTED, THE DEBT CEILING
EXPECTED, THE DEBT CEILING
FINISHED, BY THE WAY,
FINISHED, BY THE WAY,
THE WRITER'S STRIKE DID NOT
THE WRITER'S STRIKE DID NOT
PLAY INTO THIS REPORT.
PLAY INTO THIS REPORT.
SO IT MIGHT IT MIGHT IN
SO IT MIGHT IT MIGHT IN
THE NEXT REPORT, BUT NOT THIS
THE NEXT REPORT, BUT NOT THIS
ONE .
ONE .
ALL RIGHT.
ALL RIGHT.
AND WE'VE SEEN 10 CONSECUTIVE
AND WE'VE SEEN 10 CONSECUTIVE
RATE HIKES NOW FROM THE FEDERAL
RATE HIKES NOW FROM THE FEDERAL
RESERVE.
RESERVE.
SO DOES THIS OFFER ANY KIND OF
SO DOES THIS OFFER ANY KIND OF
A LITTLE CRYSTAL BALL OVER WHAT
A LITTLE CRYSTAL BALL OVER WHAT
COMES DOWN THE PIKE?
COMES DOWN THE PIKE?
>> YOU KNOW, THIS REPORT,
>> YOU KNOW, THIS REPORT,
I THINK, MAKES REALLY
I THINK, MAKES REALLY
CHALLENGING FOR THE FEDERAL
CHALLENGING FOR THE FEDERAL
RESERVE BECAUSE IN RECENT
RESERVE BECAUSE IN RECENT
WEEKS, SOME FED OFFICIALS HAVE
WEEKS, SOME FED OFFICIALS HAVE
COME OUT AND PUBLICLY AND SAID
COME OUT AND PUBLICLY AND SAID
THAT THEY THINK THEY MIGHT
THAT THEY THINK THEY MIGHT
PAUSE AN INTEREST RATE HIKE AT
PAUSE AN INTEREST RATE HIKE AT
THEIR JUNE 14TH MEETING WHILE
THEIR JUNE 14TH MEETING WHILE
THEY WAIT FOR THOSE 10 RATE
THEY WAIT FOR THOSE 10 RATE
HIKES TO SORT OF WORK THEIR WAY
HIKES TO SORT OF WORK THEIR WAY
THROUGH THE ECONOMY.
THROUGH THE ECONOMY.
THERE'S THAT LAG EFFECT.
THERE'S THAT LAG EFFECT.
SO THEY HAVEN'T REALLY TAKEN
SO THEY HAVEN'T REALLY TAKEN
HOLD YET.
HOLD YET.
AND THEY WANT TO SEE WHAT
AND THEY WANT TO SEE WHAT
THEY'RE GOING TO DO TO THE
THEY'RE GOING TO DO TO THE
ECONOMY.
ECONOMY.
A REPORT AS STRONG AS THIS
A REPORT AS STRONG AS THIS
MIGHT MAKE THEM THINK TWICE
MIGHT MAKE THEM THINK TWICE
BEFORE THEY TAKE THAT PAUSE.
BEFORE THEY TAKE THAT PAUSE.
WE
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