CNN’s Chatterley: There’s Reasons To Be Optimistic, Even in a Slowing Jobs Market

BERMAN And we do ░░░░░░░░ breaking news New jobs ░░░░░░░░ just in these could ░░░░░░░░ the most important numbers ░░░░░░░░ the year With us ░░░░░░░░ Chatterley What do they ░░░░░░░░ and what do they ░░░░░░░░ CHATTERLEY I ve got ░░░░░░░░ news and bad news ░░░░░░░░ good news is that ░░░░░░░░ shows a slowing jobs ░░░░░░░░ not a collapsing jobs ░░░░░░░░ The bad news is ░░░░░░░░ s not going to ░░░░░░░░ address the question of ░░░░░░░░ the Fed does later ░░░░░░░░ month But you can ░░░░░░░░ me if you want ░░░░░░░░ So what we ve ░░░░░░░░ is the jobs added ░░░░░░░░ last month 142 000 ░░░░░░░░ That s less than ░░░░░░░░ We were hoping for ░░░░░░░░ 160 000 The better ░░░░░░░░ is that the unemployment ░░░░░░░░ actually fell So a ░░░░░░░░ of people that were ░░░░░░░░ temporary layoffs last month ░░░░░░░░ that July number that ░░░░░░░░ weaker actually came back ░░░░░░░░ the workforce So that ░░░░░░░░ a good sign The ░░░░░░░░ and the slight warning ░░░░░░░░ in these numbers the ░░░░░░░░ to what we saw ░░░░░░░░ July July actually was ░░░░░░░░ big fear factor the ░░░░░░░░ warning that people were ░░░░░░░░ about Those numbers were ░░░░░░░░ lower so were June ░░░░░░░░ numbers So there s ░░░░░░░░ little warning sign in ░░░░░░░░ revisions again next month ░░░░░░░░ is a very important ░░░░░░░░ until next month s ░░░░░░░░ we ll watch that ░░░░░░░░ see whether we see ░░░░░░░░ again But if you ░░░░░░░░ at the past three ░░░░░░░░ once actually overall this ░░░░░░░░ show a little bit ░░░░░░░░ a pickup in the ░░░░░░░░ of jobs that were ░░░░░░░░ net over the month ░░░░░░░░ the revisions lower to ░░░░░░░░ and July are warning ░░░░░░░░ we were adding Construction ░░░░░░░░ care Where we lost ░░░░░░░░ little bit in manufacturing ░░░░░░░░ will be some alerts ░░░░░░░░ I said this doesn ░░░░░░░░ address I think the ░░░░░░░░ of what the Fed ░░░░░░░░ but the underlying data ░░░░░░░░ this is still pretty ░░░░░░░░ Wages picked up a ░░░░░░░░ bit There s reasons ░░░░░░░░ be optimistic even in ░░░░░░░░ slowing jobs market BERMAN ░░░░░░░░ just picked up a ░░░░░░░░ more than expected The ░░░░░░░░ down for June and ░░░░░░░░ maybe not the brat ░░░░░░░░ the economy was looking ░░░░░░░░ but pretty good So ░░░░░░░░ s talk about what ░░░░░░░░ means for interest rates ░░░░░░░░ the Fed meet it ░░░░░░░░ like a week from ░░░░░░░░ They make an announcement ░░░░░░░░ issue is and I ░░░░░░░░ try to explain it ░░░░░░░░ you will actually say ░░░░░░░░ it means whether or ░░░░░░░░ they cut rates by ░░░░░░░░ quarter point or a ░░░░░░░░ point A half point ░░░░░░░░ be a lot A ░░░░░░░░ point would be about ░░░░░░░░ s expected but maybe ░░░░░░░░ as much as some ░░░░░░░░ want CHATTERLEY I think ░░░░░░░░ was perfectly explained Borrowers ░░░░░░░░ there they d love ░░░░░░░░ half a percentage point ░░░░░░░░ This data doesn t ░░░░░░░░ you what they re ░░░░░░░░ to do I hate ░░░░░░░░ say to say it ░░░░░░░░ ll go out in ░░░░░░░░ limb and say I ░░░░░░░░ they do a quarter ░░░░░░░░ a percentage point I ░░░░░░░░ based on this data ░░░░░░░░ on what we get ░░░░░░░░ inflation data next week ░░░░░░░░ think if they came ░░░░░░░░ in September and it ░░░░░░░░ September the 18th is ░░░░░░░░ date and said Look ░░░░░░░░ re going to cut ░░░░░░░░ a percentage point it ░░░░░░░░ create a bit of ░░░░░░░░ fear factor What did ░░░░░░░░ know and see that ░░░░░░░░ aren t seeing still ░░░░░░░░ the data BERMAN It ░░░░░░░░ be the news today ░░░░░░░░ good enough so they ░░░░░░░░ t take more extreme ░░░░░░░░ So for some people ░░░░░░░░ good news may end ░░░░░░░░ being bad news but ░░░░░░░░ s all sort of ░░░░░░░░ CHATTERLY Exactly BERMAN Alright ░░░░░░░░ Chatterley thank you very ░░░░░░░░ for that We will ░░░░░░░░ to see what the ░░░░░░░░ effects will be on ░░░░░░░░ market over the course ░░░░░░░░ the morning. Thank you.”