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Slack.com slash DHQ. I'm John Bachelors. The jobs market, we'll report from the federal

government positive. However, I'm not going to characterize it because right now, if

you do not anticipate the recession, you're not listening to the bankers and to Wall Street.

I welcome a veteran of Wall Street, not only as a broker, but also as the Washington Editor

of Barron's magazine for many years, who has seen everything three or four times. Nothing

happens in the market that isn't an old story. Jim McTague, a very good evening to you.

The jobs number, when we learned it in these last hours, looked very positive, adding

235,000 jobs. That is a positive. The president of the United States, making candid remarks

about how many jobs have been added in 2022, all accurate. However, at the same time,

we have the market responding as if this is bad news or good bad news. Jim, I'm confused.

Why are we watching for the jobs market this often? Then why do we celebrate it when it's

strengthens? Good evening to you. Good evening, John. We're looking for a recession. The

jobs numbers were very strong. You would think that the market would retreat because it

would assume that the Fed would have to be even more aggressive raising interest rates going

forward and perhaps engender a more savagery recession than what we're anticipating.

But the way the markets saw these numbers was, yes, they were positive, but they weren't

too positive. They didn't surprise on the upside. We're happy that the jobs numbers weren't

...