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Bloomberg Surveillance

Surveillance: US Payrolls Surprise

Bloomberg Surveillance

Bloomberg

News, Business News, Investing, Business

3.81.2K Ratings

🗓️ 3 February 2023

⏱️ 30 minutes

🧾️ Download transcript

Summary

Marty Walsh, US Secretary of Labor, reacts to the January payrolls report. Neil Dutta, Renaissance Macro Research Head of US Economic Research, says consumers are telling us the labor market is fine. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says the hot labor market is still going to be an issue for the inflation outlook. Glenn Hubbard, Columbia's Jerome A. Chazen Institute for Global Business Director & Former Chairman of the Council of Economic Advisers, says the jobs report is 'certainly a worry for the Federal Reserve.' Priya Misra, TD Securities Head of Global Rates Strategy, says the Fed is banking on a soft landing.  

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Transcript

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0:00.0

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Is it about what you have in the bank or your 401k?

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Should you buy a place where you live or hold off?

0:39.0

And if you build, could sand shortages in Singapore impact prices in Connecticut?

0:44.0

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0:47.0

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0:51.0

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0:57.0

Learn more at Bloomberg.com slash wealth.

1:28.0

And the Bloomberg business app.

1:30.0

I'm pleased to say the US Labor Secretary Marley Walsh joined us now from Washington.

1:33.0

Now, Marty, did you have to edit your notes once you saw that job's number in the last 24 hours?

1:39.0

Well, I looked at my economists and I said, you were way off today.

1:43.0

You know, it was, you know, and I was on a call with some folks from the White House earlier.

1:48.0

And they said, what did you think about the draws of points?

...

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