AS HARD AS IS HAS BEEN FOR
AS HARD AS IS HAS BEEN FOR
AMERICAN WORKERS AND THEIR
FAMILIES AND, IT’S ALWAYS MEANT
TO BE TEMPORARY.
WE HAD AN EXTRAORDINARILY STRONG
ECONOMY.
CHARLES: MOVE OVER, LABOR
SECRETARY SCALIA IN JUNE, THE
UNEMPLOYMENT RATE WOULD FALL
BELOW 10% BEFORE THE END OF THE
YEAR.
HE GOT IT RIGHT BUT SO EARLY,
IT’S AUGUST.
REALLY DEEP.
UNEMPLOYMENT RATE FELL.
LET’S GET REACTION SUFFERS FROM
LET’S GO TO THE NEWSROOM WITH
MORE DETAILS.
>> THE REPORT SURPRISED
ECONOMIST THIS MORNING AS THE
ECONOMY CONTINUES TO RECOVER
FROM THE PANDEMIC ZONE AUGUST,
U.S. ECONOMY ADDED 1.4 MILLION
JOBS WHICH HELPED PUSH AN
APPOINTMENT RATE DOWN TO 8.4%.
WE WERE AT 10.2% IN JULY, THAT’S
A BIG IMPROVEMENT FROM APRIL’S
NEARLY 15% AN APPOINTMENT RATE
THE AMOUNT OF THOSE SAME LAYOFFS
WERE TEMPORARY DECLINED AT
6.2 MILLION EMPLOYERS BRING BACK
WORKERS, RETAIL AND GOVERNMENT
JOBS DRIVES THE CASE.
EMPLOYMENT FOR BLACKS, ASIANS
AND HISPANICS LAST MONTH, 7000
BLACKS, 1 MILLION JOBS ADDED FOR
HISPANICS.
THE OWNER LIMIT RATE FOR THESE
GROUPS REMAIN ABOUT 10% WHILE IN
CONTRAST, UNEMPLOYMENT FOR WHITE
WORKERS WAS 7.3%.
ANOTHER HARD-HIT GROUP, THOSE
WITHOUT A HIGH SCHOOL DEGREE.
WITH BACHELOR DEGREES OR HIGHER,
5.3%.
LAST MONTH, U.S. ECONOMY ADDED
JUST OVER 1 MILLION PRIVATE JOBS
IN LINE WITH THE EXPECTATIONS,
IN LINE WITH THE EXPECTATIONS,
MANUFACTURING JOBS, 2900050000.
A LOT OF BIG SURPRISE THIS
MORNING WHEN HAVE JOBS REPORT
AND MARKETS REACTING.
CHARLES: THEY CERTAINLY DID.
THANK YOU.
JOINING ME NOW, SCALIA.
SECRETARY, CONGRATULATIONS.
YOU WERE RIGHT WITH THE PULL
PRODUCTION AND HAPPENED SO MUCH
FASTER THAN ANYONE THOUGHT IT
COULD SO TELL US, WHEN YOU THINK
IT GOES FROM HERE?
>> THANKS.
WHEN I PREDICTED I THOUGHT WE
COULD GET UNDER 10%, THAT WAS
PERCEIVED AS HIGHLY OPTIMISTIC.
NEIGHBOR, THE CONGRESSIONAL
BUDGET OFFICE SAID WE BE ABOUT
16% IN THE THIRD QUARTER AND
HERE WE ARE WELL BELOW 10% SO I
THINK THIS IS GOOD NEWS THE
AMERICAN WORKERS CAN TAKE INTO
LABOR DAY WEEKEND AND I THINK WE
CAN CONTINUE HIS PROGRESS AS
WELL.
LOOSING GOOD ECONOMIC NEWS IN A
VARIETY OF SURVEYS OVER THE LAST
COUPLE OF WEEKS IN TERMS OF
EXPANSION AND MANUFACTURING IN
THE SERVICE SECTOR, FACTORY
ORDERS AND THE LIKE SO WE CAN
CONTINUE THIS AND WE KNOW WE
NEED TO.
THERE STILL PEOPLE OUT OF WORK
THE PRESIDENT IS DETERMINED TO
HELP BY GETTING ADDITIONAL
FEDERAL UNEMPLOYMENT SYSTEM BUT
WE ARE ON A GOOD PATH.
WE DO ALSO NEED TO CONTINUE TO
BE CAREFUL ABOUT THE VIRUS
BECAUSE BEING SAFE IS PART OF
WHAT GOING TO BE KEY TO CONTINUE
TO ADD JOBS AND GROW AND OPEN.
CHARLES: THE ABILITY TO COEXIST
WITH THE VIRUS UNTIL WE GET A
VACCINE, OBVIOUSLY CRITICAL.
WE CAN SEE THE MARKETS HAVE
REACTED EVERY TIMES WE’VE SEEN
NEWS ON RAPID TESTING AND
TESTING RESULTS.
WANT TO ADD, I’M NOT A FAN OF
THE YOU THREE NUMBER, PEOPLE CAN
DROP OUT OF THE HORSE AND THE
RATE WILL GO LOWER AND IT WILL
SKEW THE ECONOMY BUT IN THIS
CASE, LABOR FORCE INCREASED BY
1968 THOUSAND PEOPLE AND 560004
BLACK WORKERS COMING IN, 177
MORE ASIAN WORKERS COMING IN.
365,000 MORE HISPANIC WORKERS,
PEOPLE PILED INTO THE LABOR
FORCE AND GOT THE JOBS BACK SO
MY QUESTION IS, UNDER PRESIDENT
TRUMP IS PUSHING HARD TO TRY TO
PROVIDE HELP FOR THOSE WHO
CANNOT GET A JOB RIGHT NOW.
LET’S FACE IT, A LOT OF
BUSINESSES ARE GONE NOW.
PROBABLY ON.
IF WE HAD A VACCINE TOMORROW,
THE JOB WOULDN’T REMIT TO THE
REST.
WAS GOING ON WITH CONGRESS?
ANY THOUGHTS ON WHAT THEY’RE
GOING TO DO ABOUT ADDITIONAL
FISCAL HELP?
>> WE CAME BY MS. 8.4%
UNEMPLOYMENT RATE THE RIGHT WAY
BECAUSE AS YOU SAID, LABOR FORCE
PARTICIPATION ACTUALLY WENT UP
SO THIS WAS A REAL DROP IN THE
UNEMPLOYMENT RATE WHICH BODES
WELL.
IN TERMS OF CONGRESS, IT WAS
VERY FRUSTRATING TO THE
PRESIDENT AND OF JULY, EARLY
AUGUST THAT THEY WOULD NOT
FORWARD WITH CONTINUED
UNEMPLOYMENT BENEFITS, NOT 600 A
WEEK BUT CONTINUED BENEFIT, FUND
PPP OR ADDITIONAL ECONOMIC
IMPACT, YOU CERTAINLY GOT THE
SENSE THAT THERE WERE SOME AND
THE DEMOCRATIC LEADERSHIP DIDN’T
WANT A DEAL, DIDN’T WANT TO DO
THE THINGS THAT WOULD HELP THE
ECONOMY EVEN FURTHER.
THE PRESIDENT STEPPED IN ON THE
UNEMPLOYMENT FRONT THIS LOST
WAGE ASSISTANT PROGRAM USING
FEMA MONEY TO PROVIDE A NEW
SOURCE.
THEY PUT OUT A DIRECTIVE
THROUGHOUT THE ADMINISTRATION TO
FIND ANOTHER WAY AND WE DID, WE
GOT 45 STATES PARTICIPATING IN
THE PROGRAM.
CHARLES: DON’T BE SHY, SHARE
WITH ME.
I WANT TO SAY CONGRATULATIONS,
