Where the Jobs Are 9/1/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 1 September 2023

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Labor Department released its latest employment data, revealing 187,000 new jobs added to the U.S. economy in August. CNBC reporters Rick Santelli and Steve Liesman discuss whether the unemployment rate, which ticked up to 3.8%, will inform the Federal Reserve’s monetary policy moving forward. President Obama’s former chief economic advisor Betsey Stevenson, Nuveen’s CIO Saira Malik, and former deputy director of the National Economic Council Andrew Olmem discuss the data and the influence it will have on interest rate hikes in the second half of the year. In this episode: Melissa Lee, @MelissaLeeCNBC Scott Wapner, @ScottWapnerCNBC Steve Liesman, @steveliesman Rick Santelli, @RickSantelli Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	This is Squack Pod and I'm C. NBC producer Cameron Costa. Today in our podcast,
0:09.8	It's Jobs Friday. The US economy added 187,000 jobs.
0:17.0	The unemployment rate jumped to 3.8%.
0:22.0	Could higher unemployment cooled down the Fed's red-hot rate hike streak.
0:28.0	Our panel of experts, including our reporters Rick Santelli and Steve Leisman,
0:33.2	plus formerly the chief economist for President Obama.
0:36.9	Betsy Stevenson.
0:38.0	I'm sort of surprised by the overall top line number.
0:40.9	What the Labor Department's data means for you in the real world.
0:45.4	If you lost your job, you practically had another job on your way out the door before you collected
0:49.7	the boxes.
0:50.7	It's Friday, September 1st, 2023, and this Job's Day Squack Pod begins right now.
0:57.0	Good morning.
0:58.0	Welcome to Squack Box here on C.
1:00.0	We're live at the Nasak Market site here in Times Square.
1:02.0	I'm Melissa Lee along with Scott
1:03.7	Wopner. Joe, Becky, and Andrew are off today, but we are here and glad to be here with you this
1:08.7	morning, right Scott?
1:09.7	Absolutely, Melissa.
1:10.7	All right. Are you convincing yourself of that? No, I'm convincing me us, you, me, America.
1:17.0	We're just a few minutes away from the government's August employment report ahead of the number. Let's bring in our jobs panel.
1:23.4	Andrew Olmam is the former Deputy Assistant to President Trump and Deputy
	...

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