Net 245 thousand people went back to work in november. That is significantly slower than we have seen every month since we started gaining again. Private payrolls, only 344,000. Last month in october, that was 877,000. The unlimit rate does fall to 6. 7 , but that is in large part because fewer people were in the labor force looking for jobs. Heres the thing that i think is really going to be important as we look at how the pandemic reshaped the economy. You look at what happened with retail hiring. 35,000 jobs lost in retail in a month when they are usually hiring for holiday sales. Createdad 118,000 jobs in the warehousing and courier sectors, which are the people who work for the online sales departments. It is a real change. Finally, the total labor force is still 9. 8 million below where it was in february. So no matter how well we have come back, no matter what that initial v looks like, it is starting to flatten out now, and you still have almost 10 Million People who had jobs i
Stephen mnuchin speaking on the phone today regarding stimulus negotiations with a promise to speak again tomorrow and new york city is back in had the coronavirus spotlight. People refuse to wear a mask still to come, coming up on todays show, embattled e. V. Maker nick la with new lows. Well ask the former auto executive what it all means for nikolas pending deal with gm. Plus, well speak with the newly minted president of shopify about the run that stock has been on. Up more than 150 . Well ask about the recent news of rogue employees stealing some Customer Data. Harl Harley Finkelstein will be our guest. We have the latest headlines coming out of washington, d. C. For us start with you, mike a little bit of low volume churning going on today. Maybe a little apprehensive. Kind of Holding Steady ahead of these couple of known potential catalysts, of course the president ial debate and the jobs number. After 4 two day rally, s p 500 year to date, train day, we kind of had that half 1
1. 00 and there south africa at just under half a trillion now in host country brazil the leader once described china as a predator a year on with a sluggish economy in mind he softening his tone as the president welcomes his chinese counterpart xi jinping the billboards however arent as welcoming freedom for hong kong china. And china brazil it would seem chinas growing influence on the continent isnt the easiest to sell to the public. And were joined by Carlos Dsouza hes the lead emerging market economist at Oxford Economics he focuses on latin america while carlos now give us a sense of the stakes here how important is china for latin america. So simon singh is growing more than for latin america but i think we need to understand the kind of relationship is very good and china have is very different from the kind of relationship in china with stan economies are in very different from relationships of china has advanced economies like here in the United States so what were looking at
An agreement on trade. They will not be an agreement on huawei. The u. S. Is out to destroy by disconnecting it from other components because there is a National Security element. They will not be an agreement on trade or tax. Tensions will escalate. Rishaad what kind of lifeline is there . There is a long lifeline. This could happen any day. Cant use it. Ory will not use the huawei five g networks. Maybe a system does not work in terms of software or hardware. These rivals are much more serious about tech and globalization. With a Global Supply chain, it depends on the integration of the global economy. Once youve vulcanized, we will have a global session. Rishaad are we seeing signs already . Some of that is spreading into the service line of the economy. Trade is that, global also falling quite rapidly. How bad does it get before things improve . Do they improve . Trade in tech in the u. S. And china will get worse. With the u. S. And tehran escalate, there will be a spike. You have
Stocks not doing much. Revenue forecast, certainly concerning. Well talk to jim a lot about that, and well talk a lot about snowflake. That stock is down dramatically this morning, both on guidance and the news that its ceo, Frank Slootman, will be retiring. Suboptimal. Yeah. Suboptimal. Lets start with the inflation data, sort of get that out of the way before we move on. Whats your take on this pce number . In line is cool. Thats the way i look at it. I think that there were a lot of people who thought after the cpi this one would be bad too, and when you look at the progression of the s p futures, david, it really is incredible how negative people are underneath. I mean, when frank was on, frank holland, this morning, he saw the futures just sinking as if the it was a foregone conclusion that the number would be too high. We keep seeing that, which is, i think, one of the puts underneath the market, is the actual negativity of the futures. Interesting. And to your point, there is th