Surveillance: U.S. Jobs Report With Kudlow
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 7 August 2020
⏱️ 42 minutes
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Summary
Larry Kudlow, National Economic Council Director, says virus relief talks are stalemated. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says today's payrolls report gives ammunition for another round of fiscal support. Danny Blanchflower, Dartmouth College Professor of Economics, says although nonfarm payroll numbers are positive, we need to watch underemployment figures. Tiffany Wilding, PIMCO Chief U.S. Economist, says this stronger-than-expected jobs report heightens the focus on the negotiations over another stimulus bill.
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| 0:00.0 | On September 25th, Bloomberg Green returns to New York to bring together leaders from business, finance and government during Climate Week, NYC. |
| 0:09.3 | Join us for a half day of timely insights and high-impact networking, backed by Bloomberg's global journalism and data expertise. |
| 0:17.2 | Together, we'll explore strategies for future-proofing business and communities from the planet's most pressing climate challenges. |
| 0:24.3 | Learn more at Bloomberg Live.com slash green NY. |
| 0:41.8 | Welcome to the Bloomberg Surveillance Podcast. |
| 0:43.0 | I'm Tom Keen. |
| 0:49.4 | Daily, we bring you insight from the best in economics, finance, investment, and international relations. |
| 0:56.7 | Find Bloomberg surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, on the Bloomberg. |
| 1:01.0 | From New York City, for our audience worldwide, for the White House's view on the jobs report, |
| 1:03.6 | I'm very pleased to say on Bloomberg TV and Bloomberg Radio. |
| 1:07.4 | We're joined by Larry Kudlow, National Economic Council Director. |
| 1:09.6 | Larry, fantastic to catch up with you, sir. |
| 1:10.6 | You're looking well. |
| 1:11.7 | Let's get straight to it. |
| 1:16.8 | Payrolls looking good. What does that payrolls report mean for the talks that you guys are having on Capitol Hill on the next steps over fiscal policy? Well, look, I think the continued |
| 1:22.5 | rise in payrolls, and bear of mind, Jonathan, you know, this was a hotspot payroll report. This was July 20th to 18. |
| 1:31.3 | And the surging hotspots in the south and west and some other places began in the back end of June and lasted through July. |
| 1:39.8 | You know, there was some pullback of reopenings and so forth. And yet, and yet, we still got 1.8 million |
| 1:46.4 | with a big decline, almost a full percentage point drop in the unemployment rate, which will |
| 1:51.9 | move to single digits easily in the summer and fall. So I think that's a very key point. |
| 1:58.4 | Just in terms of the economy, now, how that reacts, how that reflects |
| 2:02.5 | on the talks. The talks are rather stalemated right now. It was a better tone early this week, |
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