Transcript for US added 339k jobs in May
BRUCE TONIGHT, MARY, THANK YOU.
AND OF COURSE, THE WHITE HOUSE
AND OF COURSE, THE WHITE HOUSE
CONSIDERS THAT DEBT DEAL A MAJOR
CONSIDERS THAT DEBT DEAL A MAJOR
VICTORY. AND THEY ALSO WELCOME
VICTORY. AND THEY ALSO WELCOME
THE NEWS ON THE ECONOMY TODAY,
THE NEWS ON THE ECONOMY TODAY,
THE MAJOR NEWS ON AMERICAN JOBS
THE MAJOR NEWS ON AMERICAN JOBS
, EMPLOYERS ADDING 339,000 JOBS
, EMPLOYERS ADDING 339,000 JOBS
LAST MONTH. THAT'S NEARLY DOUBLE
LAST MONTH. THAT'S NEARLY DOUBLE
WHAT ANALYSTS HAD PREDICTED.
WHAT ANALYSTS HAD PREDICTED.
UNEMPLOYMENT TICKING UP SLIGHTLY
UNEMPLOYMENT TICKING UP SLIGHTLY
TO 3.7. THE DOW TODAY SOARING
TO 3.7. THE DOW TODAY SOARING
MORE THAN 700 POINTS ON THE JOBS
MORE THAN 700 POINTS ON THE JOBS
NEWS AND ON CONGRESS CLINCHING
NEWS AND ON CONGRESS CLINCHING
THAT DEBT CEILING DEAL. LET'S
THAT DEBT CEILING DEAL. LET'S
BRING IN OUR CHIEF BUSINESS AND
BRING IN OUR CHIEF BUSINESS AND
ECONOMICS CORRESPONDENT, REBECCA
ECONOMICS CORRESPONDENT, REBECCA
JARVIS TONIGHT. AND, REBECCA, I
JARVIS TONIGHT. AND, REBECCA, I
KNOW YOU'VE BEEN TRACKING THESE
KNOW YOU'VE BEEN TRACKING THESE
NUMBERS AND WHAT THIS COULD ALL
NUMBERS AND WHAT THIS COULD ALL
MEAN IN THE EFFORT TO TAME
MEAN IN THE EFFORT TO TAME
INFLATION IN THE US. WELL,
INFLATION IN THE US. WELL,
THAT'S RIGHT, DAVID. AND THIS IS
THAT'S RIGHT, DAVID. AND THIS IS
A JOBS REPORT THAT DOESN'T MAKE
A JOBS REPORT THAT DOESN'T MAKE
THE FED'S JOB AHEAD ANY EASIER
THE FED'S JOB AHEAD ANY EASIER
OR CLEARER IN ITS FIGHT AGAINST
OR CLEARER IN ITS FIGHT AGAINST
INFLATION. WE'VE NOW SEEN 14
INFLATION. WE'VE NOW SEEN 14
STRAIGHT MONTHS OF JOB CREATION
STRAIGHT MONTHS OF JOB CREATION
AHEAD OF EXPECTATIONS. AND WHILE
AHEAD OF EXPECTATIONS. AND WHILE
WAGES ARE STARTING TO COOL, THEY
WAGES ARE STARTING TO COOL, THEY
ARE NOW ESSENTIALLY KEEPING UP
ARE NOW ESSENTIALLY KEEPING UP
WITH INFLATION. BUT ECONOMISTS
WITH INFLATION. BUT ECONOMISTS
WOULD LIKE TO SEE THAT INFLATION
WOULD LIKE TO SEE THAT INFLATION
CONTINUE TO GO LOWER. THE FED'S
CONTINUE TO GO LOWER. THE FED'S
JOB AHEAD IN TEN DAYS IS TO MAKE
JOB AHEAD IN TEN DAYS IS TO MAKE
A NEW DECISION ABOUT INTEREST
A NEW DECISION ABOUT INTEREST
RATES, AND THEY WILL HAVE TO
RATES, AND THEY WILL HAVE TO
BALANCE WHETHER OR NOT THE RATE
BALANCE WHETHER OR NOT THE RATE
HIKES THEY'VE ALREADY DONE SO
HIKES THEY'VE ALREADY DONE SO
FAR HAVE TAKEN THEIR FULL EFFECT
FAR HAVE TAKEN THEIR FULL EFFECT
OR MORE RATE HIKES ARE
OR MORE RATE HIKES ARE
NECESSARY. AND DAVID, WHETHER
NECESSARY. AND DAVID, WHETHER
THEY CAN DO THATWITHOUT CAUSING
THEY CAN DO THATWITHOUT CAUSING
A RECESSION, DAVID, REBECCA
A RECESSION, DAVID, REBECCA
JA
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