Bonus Episode: The March Jobs Report 4/7/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 7 April 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The U.S. economy added 236,000 jobs in March, and the unemployment rate ticked down to 3.5%. Joe Kernen, Becky Quick, and Andrew Ross Sorkin break down the Labor Department’s latest data and what it means for investors and for the Federal Reserve’s rate hiking journey. CNBC’s Steve Liesman and Rick Santelli join SMBC Nikko Securities America Chief Economist Joe Lavorgna and former Labor Department Chief Economist Betsey Stevenson to digest the report. In this episode: Steve Liesman, @steveliesman Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	I'm C. M. V.C. producer Cameron Costa, today on Squack Pod, a key piece of the economic puzzle for the Fed and for investors.
0:11.6	Two hundred and thirty six thousand. Fed and for investors. 236, 236,000, very close to expectations.
0:18.2	236,000 jobs added to the U.S. economy in March March and what's key the unemployment rate
0:25.6	ticking lower to 3.5 percent. Our senior economics reporter Steve Leisman
0:31.4	with the data that's really important.
0:34.0	People coming back into the workforce, that's disinflationary.
0:38.0	So I think this is a better report for the Fed that it appears on the headline numbers.
0:44.0	What it all means and if it's enough to prompt a rate hike retreat for the Fed.
0:50.0	Our panel of experts including economist Joe Lervornia.
0:54.0	When we're at this fulcrum, are they done tightening or are they going to maybe go one more time?
0:58.0	That hasn't been resolved, so the markets and the Fed are still sort of in the same zip code.
1:02.0	And of course
1:03.4	course see nbicy's own rick santelli and I'll commit some heresy here I don't think it matters anymore
1:09.0	whether the fed does one more quarter or not it's a bonus squawk pod. Our April 7th jobs report
1:15.6	episode begins right after this. Welcome back to Squawk Pod where we're giving you a bonus episode for the March jobs
1:29.8	report. The markets may be closed on this good Friday, but our experts are working.
1:35.0	Joe Kernan, Becky Quick, Andrew Ross Zwarkin, and a whole host of economists broke down the Department of Labor report today.
1:43.5	Here's Joe.
1:44.6	Time for the report.
1:45.7	Rick Santelli, what's a number?
1:47.3	Yes, the March jobs report.
1:49.0	Everybody's expecting.
	...

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