The consensus and two hundred and its less than the two hundred thirty nine thousand jobs created in november lets get into the dates with dr Mark Thornton a senior fellow at the me season just to dr thornton thanks again for joining us it seems like a pretty good report but not a toadie the tiger great report whats your take on some of the highlights in terms of specific sector specifics. Well i was thinking that it was going to be a tony the tiger type report of two hundred thousand or more new jobs added and as you said the consensus amongst economist was for one hundred ninety thousand. And on the downside the Retail Sector surprisingly lost twenty thousand jobs in december im a little leery of that figure and these figures are almost guesstimates that have to be revised two times and i would not be surprised if retail is revised upward in a significant way if retail goes up twenty five thousand and set it down twenty thousand then my estimate was was right on the money i was surprised by the retail number two that it wasnt higher going into the Holiday Season but you know weve talked with some retail experts in the past and they say people are moving more and more to online purchasing so it might be lower than you and i thought back to the construction though are some of those Energy Sector jobs that were created in construction really due to the those unfortunate hurricanes that we had this year. Oh yes weve weve had a naturally increase in construction jobs and then as we get into this boom of course theres even more construction jobs and then the hurricanes just come right on top of that in texas and south florida and and puerto rico where theyve added a great deal of new jobs in that sector and also of course theres a lot of jobs in that sector from undocumented immigrants coming in from mexico to participate in those. You know tremendous job growth and those are not counted so the the actual conditions in construction are much bigger and better than what is indicated by the government statistics ok fine final thing i wanted to ask you can you put two thousand and seventeen in perspective sort of on the haul given where we were almost a decade ago with the recession two thousand and seven two thousand and eight weve come a long way right absolutely you know you had two point one million jobs youve got an Unemployment Rate of four point one percent and stock markets at all time highs thats a great picture but unfortunately were also back in that same two thousand and seven mode with Unemployment Rate below the natural rate was stock markets stretch far beyond normal expectations and so i believe that the Unemployment Rate is going to go below four percent in two thousand and eighteen but ultimately by the end of the year the Unemployment Rate should be rising at that point you know there were some experts that i heard talking in recent days they said that they thought that the rate could get as low as three point five percent are you are you that dr. Dived ive seen that figure and im not quite that optimistic and you know as i said it when the Federal Reserve stretches the Unemployment Rate below the natural rate that to me is a sign of trouble times ahead and so i would like to see normal Unemployment Rates were that dont change very much instead of ones that go below four percent go above eight percent thats the fault of the Federal Reserve and its Monetary Policy well well see a lot of that coming up i know and we have jay powell the new chair of the Federal Reserve who will be presiding over his first meeting of the federal open markets committee on january thirtieth and thirty first so well see if he has any changes to whats going on but we really want to thank you dr mark barton senior fellow at the me shes institute thank you so much for joining us happy new year to you well see you again. Now lets take a little trip around the world and look at employment first we go to david miller for more on the americas david a bar thanks for having me and according to Financial Reports canada added seventy nine thousand jobs in december that pushed the jobless rates to the lowest level since one thousand nine hundred seventy six two thousand and seventeen was canadas best year for job since two thousand and two with over four hundred thousand jobs added by reason of those three biggest provinces all the largest gains ontario British Columbia and q back all helped fuel this job increase and looking at the Bigger Picture employment rose across the country as the economy added net job gains the majority of the games were driven by full time work opportunity and there were more people working in the Service Providing sectors as that was led by fallen its insurance rose day and rentals employment also increased in Educational Services along with transportation and warehousing and by industry factory saw employment increases that three point five percent in two thousand and seventeen while the Services Sector experienced a boost of two percent additionally as the Global Economy strengthens people have more money to purchase everything from cars to high end of like tronics and the mexican economy consisting of almost one hundred twenty Million People with an Unemployment Rate of three point nine percent is Holding Strong to start the new year the country has gone through tremendous structural changes over the past three decades from all dependent economy up to the early one thousand nine hundred to a booming Manufacturing Center after the aftermath of nafta in the one thousand nine hundred and mexico is becoming an International Trade hub as the proximity to the u. S. Export market continues to be a competitive advantage but mexico does have a strategic boost through free trade they signed twelve agreements with forty six countries and mexico is divided into thirty two federal entities of which thirty one are states and mexico city. As a Federal District mexico city was responsible for generating almost sixteen percent of mexicos g. D. P. And in the metropolitan area did account for almost twenty two percent of the total national g. D. P. And mexicos now a top global export of cars and flat screen t. V. s among other products xterra boasting a firm hold and a Global Economy through trade and more reporting for boom bust part thank you david thanks for that report very interesting next we are going to go to london to now stasia church in a who gives us a report on the u. K. And london and u. K. And europe rather. Compared with a year ago the Unemployment Rate in Member States fell over all except for finland where it is said to have stayed the same the rate still remain high especially if we compare them to what the numbers were head of the two thousand and eight collapse and recession that followed the largest recent drops in numbers were recorded in cyprus and greece now if we take a look at the highest and lowest unemployment levels among even Member States the top five highest levels were recorded in greece and twenty point six percent spain at sixteen point seven percent italy at eleven point one ten point five and cyprus at ten point two percent in terms of the lowest unemployment figures those can be seen in the Czech Republic two point seven percent malta three point five germany at three point six hungary at four point one and Great Britain four point two now germany is considered europes largest economy and a powerhouse within the e. U. The unemployment figures there have hit a record low in fact those are said to be the lowest in decades eurostar which defines unemployment based on the uns International Labor organizations guidelines estimates suggest that over eighteen Million People in the e. U. Twenty eight of whom over fourteen million were in the euro area were unemployed in october twenty seventeen compared with the same time the Previous Year unemployment fell by over two million in the e. U. Twenty eight and by under one point five million in the euro area now the euro area seasonally adjusted Unemployment Rate was eight point eight down from nine point eight percent the e. U. Twenty eight Unemployment Rate was seven point four down from eight point three in the same time period all these years after the peak of the economic crisis youth unemployment remains a major area of concern for the European Union and over eighteen percent in the euro area according to you are a stat reese spain and italy have the highest youth Unemployment Rates while germany and the netherlands have the lowest these rates vary significantly of course from country to country depending on individual ongoing economic developments and as i said r. T. E. Lunde. Thank you and now for a look at unemployment in asia. Joins us. Hey there barton good to be with you today so lets start with the big player in the hemisphere of course that is going to be china china china an official Unemployment Rate is just below four percent three point nine five to be exact but as we know those numbers are notoriously unreliable sets given the volatility of the countrys g. D. P. Growth that swings as high as fourteen percent and as low as six percent so its extremely hard to hammer out what the true numbers are in a country with about one point four billion people much of china still quite rural so their methods to arrive at those numbers are kind of questionable but no doubt theyre carrying the growth in that region but three point nine five is where were at thanks to the countrys booming manufacturing and Construction Industries and lets move over now to japan even the lower numbers there are theyre seeing unemployment all the way down to about two point seven percent with a population of about one hundred twenty seven million this rate is some of the lowest japan has seen this since the early one nine hundred ninety s. Compared to just two years ago japan has enjoyed a boost in construction jobs information and technology and both wholesale and Retail Sectors have added demand there and over now to south korea as relations with their northern neighbor began to thaw their overall unemployment remains a low of three point seven percent thanks to conglomerates like samsung and l. G. And theyre seeing an ugly number over eleven percent unemployment though among the nations young people aged fifteen to twenty nine getting jobs at those big corporations are brutal in south korea places like have grueling six hour exams just to get your foot in the door so nationwide though their numbers look pretty good look a little deeper and youll see the young people kind of struggling there and down over in the philippines while that country is battling a drug epidemic a growing terrorism cells stronger. President deter and his administration is reporting unemployment at a flat five percent across the islands that number quite high though compared to the mainland experts say this is due to the Labor Participation rate which has fallen to crisis levels of about sixty three percent so a lot of filipinos have just given up on seeking work altogether just not enough jobs to go around lets go over now to india as we know the developing nation theyve got a Staggering Number of havering just below five percent but even at four point eight nine they are now central to the future of bricks india is the new china for brics theyve got a higher growth rate than china and still room to go the government in india seeking Structural Reforms of the future of unemployment in india is likely pretty bright for the nation of one point three billion lastly weve got australia there hovering at about five percent five and a half percent the aussie is theyre saying tough times there in a country of only about twenty four Million People theyve had a long span of years where the Labor Participation rate remained around sixty five percent as high so the young people there especially hit hard at a staggering thirteen point five percent that is the highest level that they have seen in forty years apart so i think the takeaway from all of this the young people across asia are kind of suffering. Even more so that in the u. S. Manila in the u. S. Its about thirteen percent of the young people unemployed so something for us to keep watching the most Common Thread around the globe. And thank you so much for your assistance and thanks to all of our correspondents around the world for their assistance right now its time for a quick boyett break but stick around because when we return well see whats ahead for the Energy Sector in twenty eighteen and as we do go to break here are the numbers at the closing bell and by the way we get back i have a quick comment about the dow passing a twenty five thousand dollar mark something we reported yesterday with us to go to break here are the numbers at the closing bell. In the heart of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox swiss customs. All the site is controlled by them and they impose the opening times. It is from his office the procedures in place of the strictest in all europe masterpieces by artists like pecans oh and modigliani i cant boards and sold inside this warehouse thats where the report comes in it covers up deals with naturally discreet commercially discreet but also discreet because they concern fraud. Some of those paintings are linked to dark secrets nobody knows how many of these secrets kept inside the Geneva Freeport system youll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand is it a matter of confidentiality only is it the worlds black box of the art business. Hey everybody im stephen both. Hollywood. Expects every proud american first of all im just george bush and honored to say this is my buddy max famous financial guru just a little bit different on this day in California Well in your windows with all the drama happening in our country im rude have some fun every day americans. And hopefully start to bridge the gap this is the great american. Journey. So. Yesterday we reported that the Dow Jones Industrial average had topped twenty five thousand for the first time in history i want to add a little bit of historical texture to that because its a really big hairy deal the dow peaked above fifty four hundred in august of one thousand nine hundred twenty nine thats just before the crash that led to the Great Depression and it wouldnt reach that level fifty nine hundred until one thousand fifty nine just short of thirty years later in january of one nine hundred sixty six there was another high above seventy six hundred from there stocks went on a decline not bottoming out until july of one thousand nine hundred eighty two from there the crash of eighty seven some of us recall black monday was the only blip in a long climb that ended with the collapse of the tech bubble in the late one nine hundred ninety s. And then markets work and worsened after the World Trade Center attacks nine eleven of course the most recent shock was the collapse of the Housing Market after two thousand and seven and nearly the entire Global Financial system in october of two thousand and eight most of us remember that all too well i know i do now the dow has top twenty five thousand after gaining a thousand points in the past five weeks of all things and added twenty five percent of the total value over the past year thats really monumental so the dow busting twenty five thousand is a big deal not just for today but in history. As the northeastern United States is dealing with the impact of a massive winter storm that is expected to bring record lows over the weekend insurers are insurers are surveying the damage from twenty five seventeens Hurricane Season munich re a german reinsurer says hurricanes harvey worm and maria contributed to pushing Insurance Industry payouts to a record amount of one hundred thirty five billion dollars when uninsured losses are added the total damage related to natural disasters from last year amounted to a monumental three hundred thirty billion dollars the company says that figure the total loss is three hundred thirty billion nearly doubled the ten year inflation adjusted average insured losses came in at nearly three times the annual average a Company Board members said that their official in their professional press release that a key component a key point of these catastrophic events is that the forecast of what is to come because even though these are individual events and they cant be directly traced to Climate Change the experts at munich say that such extreme weather conditions will continue to occur more often in the future. And its particularly after pod that today we look at Energy Prices given the increased energy needs of heat and for homes around this cold snap that were having in much of the u. S. Were joined by director of public and Citizens EnergyProgram Tyson slocum and talk about two thousand eight hundred Energy Sector tyson welcome again thank you for being here always great to be here ok so lets just give a big flyby hundred thousand foot overview of what you think is going to happen twenty eighteen of the Energy Sector were going to continue to see the rise and growth of renewables right the nineteenth century. Was the age of coal the twenty the Twentieth Century was the age of oil the twenty First Century is the age of renewables so while were nobles still are going to have smaller market share relative to. The nucular and coal the growth and the amount of direct Capital Investment into renewables is going to be the big story its going to continue to outpace what we see in fossil fuel a new killer and so i see i see two thousand and eighteen as a watershed year in terms of Sustainable Renewable Energy investment around the globe and you say that tyson even in light of really what is sort of a negative backdrop in this new administration for a lot of these things i noticed they did keep the. Tack to duction for renewable vehicles in the tax bill that was just passed but but youre still positive even though this administration seems to be pretty pessimistic and if not outright negative on renewables right theres no question that the Trump Administration is doing all it can to try and stem the growth of renewables and throw a desperate lifeline to their friends in the coal industry but even the trumpet ministrations aggressive tactics in the regulatory and legislative front cant undo these market changes the market they should like that part of it right you know you think thousand free market let me ask you then about that in the free market and whats going on secretary of energy i think thats the Department Im getting that rick perry secretary rick perry heads up he forgot it famously during one of those president ial debates the former governor of texas hes taken some actions recently with regard to nuclear and coal and think theyve been sort of the redheaded stepchild in the energy field whats your take on that a pretty unprecedented and sweeping move by the secretary of energy so back in september he proposed this rule to the federal Energy Regulatory commission the. Of energy has very limited authorities itself to intervene into markets it really relies upon this independent federal agency for called for and so perry submitted this proposed rule that essentially said you know what renewables enjoy unfair advantages and theyre become so cheap that they are prematurely causing nucular and coal fired power plants also known as baseload to become an economic and go out of business and so this is going to create reliability problems so says perry and therefore consumers must bail them out to the tune of billions of dollars a year so on january tenth firk is set to rule on this. Proposal we think that fur is going to reject it but it just shows the perseverance of the trumpet ministration and some of his key deputies in trying to do all they can for for coal and for nucular but the fact is that renewables are often the least costs power source in most american markets today and increasingly around the world and thats really whats driving relatively low electricity prices throughout north america plus the renewables have the benefit of being renewable exotic i dont just use a middle of it by the way is this the one that you testified on on the hill yeah i testified before the house of Representatives Energy and Commerce Committee back in october laying out the problems with this perry approach and really talking about how renewables actually provide a lot of benefits to the grid right especially with all of the advancements that were starting to see in Energy Storage because that storage like batteries can balance out whats known as the intermittency of Renewable Energy ok im going to add two minutes lets get to another star to go to the secretary of an. Eerier ryan zinke he who seems to be doing more of the same explained that with regard to drilling and safety tyson yes so just a nother big bombshell from the trumpet ministration they announce the largest Expansion Proposal of offshore oil and gas drilling for the entire Pacific Coast of the United States the entire Atlantic Coast all of the coast surrounding alaska and the eastern gulf of mexico which borders on florida this is unprecedented and its already seeing a lot of pushback even from some republicans that represent some of the coastal districts that will be affected so you can be sure that over the next several years this is going to be a huge fight between some of the oil and gas interests that are pushing the Trump Administration and some of the more moderate republicans in these coastal so im concerned i know that people have concerns about drilling but at least there are those safety precautions that we put in place after the b. P. Spill right well unfortunately those are also going to be on the cutting room floor because at the same time that theyre talking about this unprecedented expansion of offshore oil drilling they are also talking about doing the way with every single one of the post b. P. Deepwater horizon offshore safety rules the Obama Administration in response to the deepwater horizon catastrophe in two thousand and ten administratively reorganize the entire agency that oversees offshore drilling and imposed stringent new Safety Standards to protect workers the and the environment and the Trump Administration under secretary of the interior is proposing to do way with every single one of those safety measures. Ok we only got a couple seconds left can you give me a quick take on what you think is going to happen with fracking which in fairness really boomed under president obama whats going to happen going into twenty eight hundred well i think were going to continue to see expanded fracking in the United States you know the north dakota bokken the texas eagle ford are really whats pacing bigger oil. Production in the United States and i think thats going to continue tyson slocum director of Public Citizens Energy Program thank you again for being here always helpful to have you my pleasure. Great thanks for watching be sure to catch boom bust on you tube at youtube dot com slash boom bust artie have a great weekend catch you next time. Its the cradle of jazz. The america is the america we have. No love this jazz feeling. A city of climatic contest trophies of alligators on the loose of poverty and crime are used by the least toil members a mob found close most. 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