CNN’s Asher on Jobs Report: Everyone Was Telling Me ‘Wait Until June,’ Not Happening

BERMAN All right Thanks ░░░░░░░░ much Sara You know ░░░░░░░░ and the congresswoman talking ░░░░░░░░ the jobs report You ░░░░░░░░ see what the market ░░░░░░░░ has been over the ░░░░░░░░ few minutes These are ░░░░░░░░ You see futures up ░░░░░░░░ slightly mostly flat This ░░░░░░░░ t much of a ░░░░░░░░ to a jobs report ░░░░░░░░ was very good continued ░░░░░░░░ growth in this country ░░░░░░░░ beat expectations With us ░░░░░░░░ CNN s Zain Asher ░░░░░░░░ s talk about this ░░░░░░░░ And again the news ░░░░░░░░ think is that the ░░░░░░░░ of time we ve ░░░░░░░░ to see this good ░░░░░░░░ ASHER Absolutely I mean ░░░░░░░░ is good news though ░░░░░░░░ bad news in these ░░░░░░░░ numbers and I ll ░░░░░░░░ in a minute But ░░░░░░░░ you look at the ░░░░░░░░ numbers 147 000 jobs ░░░░░░░░ there s no denying ░░░░░░░░ this is a very ░░░░░░░░ labor market economy And ░░░░░░░░ ve spoken to so ░░░░░░░░ economists since Liberation Day ░░░░░░░░ have said to me ░░░░░░░░ and time again that ░░░░░░░░ the solid numbers we ░░░░░░░░ seen in previous months ░░░░░░░░ said Zain wait until ░░░░░░░░ June you will see ░░░░░░░░ BERMAN Yeah ASHER we ░░░░░░░░ start to see the ░░░░░░░░ of in the hard ░░░░░░░░ of the sort of ░░░░░░░░ tariff policy That s ░░░░░░░░ happening One of the ░░░░░░░░ why I think it ░░░░░░░░ also important to add ░░░░░░░░ there is a little ░░░░░░░░ of bad news in ░░░░░░░░ numbers is that at ░░░░░░░░ half John 73 000 ░░░░░░░░ the jobs were that ░░░░░░░░ added actually came from ░░░░░░░░ government sector And what ░░░░░░░░ re seeing is federal ░░░░░░░░ jobs that are being ░░░░░░░░ a lot of people ░░░░░░░░ from federal government jobs ░░░░░░░░ state and local government ░░░░░░░░ And then when you ░░░░░░░░ at the private sector ░░░░░░░░ that were added and ░░░░░░░░ is where the problem ░░░░░░░░ because you can t ░░░░░░░░ look at the headline ░░░░░░░░ you have to sort ░░░░░░░░ take a peek below ░░░░░░░░ hood If you look ░░░░░░░░ the private sector jobs ░░░░░░░░ were added I mean ░░░░░░░░ s it s sort ░░░░░░░░ stalemate It s sort ░░░░░░░░ a stalemate compared to ░░░░░░░░ we ve seen in ░░░░░░░░ months When you think ░░░░░░░░ tariff sensitive sectors like ░░░░░░░░ example construction a lot ░░░░░░░░ people who work in ░░░░░░░░ in this country are ░░░░░░░░ course foreign born migrants ░░░░░░░░ re subject to an ░░░░░░░░ immigration environment at this ░░░░░░░░ also they re also ░░░░░░░░ that division that sector ░░░░░░░░ subject to raw materials ░░░░░░░░ that much more expensive ░░░░░░░░ we re seeing construction ░░░░░░░░ problematic issues with construction ░░░░░░░░ When you look about ░░░░░░░░ at manufacturing for example ░░░░░░░░ 7 000 When you ░░░░░░░░ about the fact that ░░░░░░░░ have raw materials again ░░░░░░░░ that much more expensive ░░░░░░░░ lot of manufacturing facilities ░░░░░░░░ this country are sitting ░░░░░░░░ So there is a ░░░░░░░░ of a discrepancy BERMAN ░░░░░░░░ ASHER right between the ░░░░░░░░ picture we re seeing ░░░░░░░░ it comes to federal ░░░░░░░░ jobs or rather state ░░░░░░░░ local government jobs and ░░░░░░░░ we re seeing in ░░░░░░░░ example construction manufacturing transportation ░░░░░░░░ fewer goods are coming ░░░░░░░░ this country via imports ░░░░░░░░ transportation jobs are going ░░░░░░░░ be required to transport ░░░░░░░░ those goods around the ░░░░░░░░ of the country So ░░░░░░░░ think it is a ░░░░░░░░ of two cities with ░░░░░░░░ jobs report BERMAN All ░░░░░░░░ This was the June ░░░░░░░░ wait until July let ░░░░░░░░ see if this streak ░░░░░░░░ Zain Asher thank you ░░░░░░░░ much.”
ASHER: “Of course.”