The Job Hunt; Cathie Wood’s Car Call; The Delta Wave

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 3 September 2021

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In August, the US economy added only 235,000 jobs, much less than economists were expecting. The hiring blitz at bars and restaurants came to an abrupt halt in August as more Covid-19 cases and a scarcity of willing workers kept employers from adding to payrolls. CNBC’s analysis of the August 2021 jobs report shows a loss of 42,000 jobs in food services and drinking places last month. Nela Richardson of ADP, Jason Furman of Harvard, and CNBC’s Steve Liesman and Rick Santelli discuss the disappointing August jobs report. Former FDA Commissioner, Dr. Scott Gottlieb, predicts that Northeastern states, including New York and Connecticut, will experience another jump in Covid cases tied to the highly transmissible delta variant. Dr. Gottlieb recommends that schools that have brought kids back for in-person learning should increase coronavirus testing, in addition to masking and improving ventilation. Plus, Cathie Wood says auto buyers are abandoning gas-powered vehicles, but CNBC’s Phil LeBeau reports on the reality of car sales, electric and otherwise.

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod.
0:06.0	I'm CNVC producer Cameron Costa.
0:08.0	Today on our podcast, It's Jobs Friday.
0:12.0	A big jobs report but a small really small jobs number. A mere
0:17.8	235,000 jobs added in August, but it may not be as bad as it seems. Former chair of the Council
0:26.4	of Economic Advisors, Jason Furman.
0:28.7	Delta is having about 3% as much impact on the economy as the first wave of the virus did.
0:36.6	A team of economists break down America's hiring landscape.
0:40.7	COVID variants still weighing on the economy and on our health.
0:45.0	Former FDA Commissioner Dr Scott Gottlieb.
0:48.0	I think that there's a perception that we're sort of through this Delta Wave here in the northeast.
0:52.0	I don't think that that was the true Delta Wave.
0:54.2	I think that that was a Delta Warning.
0:56.1	I think our true Delta Wave is going to start to build
0:58.3	after Labor Day here in the Northeast.
1:00.5	Those stories, plus Kathy Wood makes a call on electric vehicles and chips in short supply.
1:07.0	This is the other chip but for some reason every time I read it I'm thinking of what I'm really worried about and that is you know if any of the toes are in short supply as football season
1:17.2	Derritos okay Homer
1:19.3	It's Friday September 3rd 2021
1:22.4	Squackpad begins right now.
1:24.3	Stand Becky by in three, two, one, cure please.
	...

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