Dysfunctions in Labor Markets with Jason Furman
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 1 June 2018
⏱️ 39 minutes
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Summary
Tom Porcelli, RBC Capital Markets Chief U.S. Economist, says we're not yet at full employment. Ted Alden, Council on Foreign Relations Senior Fellow & Author of "Failure To Adjust: How Americans Got Left Behind In The Global Economy," defines a trade war as tit for tat tariff retaliation outside the rules of the trading system. Elisa Martinuzzi, Bloomberg's EMEA Finance & Investing ME, updates us on political events in Italy. Bill Gross, Janus Henderson Fund Manager, defends his strategy that was widely criticized earlier this week. Alan Krueger, Princeton Professor & Former Council of Economic Advisers Chairman under President Obama, recaps his routine when he previewed jobs numbers for the White House. Jason Furman, Harvard Professor & Former White House Council of Economic Advisers Chairman, says the biggest constraint on U.S. wage growth is its lack of productivity growth.
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Transcript
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| 0:00.0 | The media alone can't ease the tensions that come from the debate surrounding the issues we deal with every day. |
| 0:05.7 | However, we can create spaces where people can freely kick the tires of their preconceived notions. |
| 0:11.2 | I'm Tim O'Brien, and I'm the senior executive editor at |
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| 0:18.1 | problems with the facts in mind. Because context changes how you see things and |
| 0:22.4 | how you change things. |
| 0:23.6 | Context changes everything. |
| 0:25.6 | Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.5 | Daily, we bring you insight from the best in economics, finance, investment, |
| 0:48.0 | and international relations. |
| 0:49.9 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, on the Bloomberg. |
| 0:57.0 | So, we're going to be able to find out. So it is pay rolls Friday, your median estimate in our Bloomberg survey, |
| 1:07.4 | 190,000 added to the month of May, the unemployment rate expected to stay at 3.9% and the closely watched |
| 1:16.3 | wage growth figure, the estimate there 2.6% year on year in line with the previous read. |
| 1:23.2 | I'm really pleased to say to give us his personal read is Tom Porcelli. |
| 1:26.4 | RBC Capital Markets Chief US Economist who joins us in the studio. |
| 1:30.2 | Good morning Tom. |
| 1:31.2 | Good morning, good to see you. |
| 1:31.9 | What are you looking for this morning? |
| 1:33.0 | So we're looking for 215 headline and private, and we're looking for 3-9 on the unemployment, so no change there. |
| 1:39.0 | Look, I think, you know, let's be, let me be the only honest economist on this point. |
| 1:43.2 | Whether it comes in at consensus 190 I think you said or my 215 |
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