NCSU professor predicts weaker job growth for June report
SENSORS AND LET YOU KNOW HOW
THAT'S DEVELOPING ANOTHER
UPDATE ABOUT 10 MINUTES FOR
THAT. THANKS, RYAN.
>> WE'VE BEEN TALKING ABOUT
THE MONTHLY JOBS NUMBERS THAT
ARE DUE OUT AT 8.30, THIS
MORNING. JOINING US LIVE NOW
TO TALK MORE ABOUT WHAT THAT
NEW REPORT COULD SHOW US ABOUT
THE U.S. ECONOMY IS NC. STATE
ECONOMIST MIKE WALDEN. MIKE,
GOOD MORNING. THANKS FOR
JOINING US. SO THIS JOBS REPORT
WILL LOOK BACK AT THE MONTH
OF JUNE. WHAT CHANGES DO YOU
THINK WE'LL SEE COMPARED TO
MAY.
>> I EXPECT THAT WE'RE GOING
TO SEE I'M LOOKING FOR MAYBE
250,300 1000 NEW JOBS CREATED
IN THE NATION. BUT THAT WILL
BE LOWER. AND I THINK ANALYSTS
THINK THAT THEY WILL BE LOWER
THAN THE THAT WE HAD IN IN MAY.
AND THAT WOULD BE A SIGN OF
SLOWING IN THE WILL ALSO LOOK
AT WAGE GROWS. WE'LL LOOK AT
WHERE THE JOBS AND THE
UNEMPLOYMENT RATE. I THINK THE
UNEMPLOYMENT RATE WILL EITHER
HOLD STEADY AT MAY INCH UPWARD.
JUST A SMIDGE. BUT I THINK WE
ARE LOOKING FOR WEAKER JOB
GROWTH IN JUNE.
>> AND YOU MENTIONED THAT JOB
MARKET SLOWDOWN. WHY WITH THE
JOB MARKET BE SLOWING AND COULD
SLOWER JOB GROWTH? ACTUALLY
BE A GOOD THING?
>> WELL, THE FEDERAL RESERVE
ONCE THE ECONOMY TO SLOW.
THAT'S THE WAY THEY ENGINEER
LOWER INFLATION RATE.
UNFORTUNATELY.
AND THEY HAVE BEEN RAISING
INTEREST WE'VE SEEN OTHER
INDICATORS THAT THE ECONOMY
IS IS SLOWING AND THE TRADEOFF
HERE IS IF WE GET FEWER JOBS
CREATED AND WE GET LOWER
INCREASES IN WAGES, WHICH IS
ANOTHER THING WE NEED TO BE
WATCHING THAT SHOULD PUT
DOWNWARD PRESSURE ON THE
INFLATION RATE THE FEDERAL
RESERVE DOESN'T WANT TO SEND
THE ECONOMY INTO RECESSION.
THERE'S A LOT OF TALK OF THAT.
WE DON'T KNOW IF WE'RE IN A
RECESSION YET. WE'RE NOT
SOMETHING WE ARE. OTHERS THINK
WE'RE NOT. BUT THIS IS ALL A
PLAN IN ORDER TO COOL OFF THE
ECONOMY. SO THEY THEY'RE
WILLING TO SACRIFICE A LITTLE
BIT OF JOB GROWTH FOR A LOWER
INFLATION RATE.
>> AND CC 8 ECONOMISTS, MIKE
WALDEN, THANK SO MUCH AS