China trade war were seeing businesses like we were who just pulled their i. P. O. Filings and h. P. Who also just unveiled plans of some major restructuring that will basically cut off and slash 70029000 jobs so thats a lot of people who will be on unemployment but if you take a look at this specific charge of the employment nonfarm you see where we stand today if you look at some numbers back when when the financial crisis occurred in 2008 you can see there was a dramatic drop during that time before the financial crash and then you see where we stand today as far as. The 3. 5 percent so of course its no surprise the president can boast where wherever he can so he took to twitter and he its no surprise that he was touting the state of the u. S. Economy saying breaking news we are doing great want to impeach your president you know so so going into that but the for. The reserve has already cut rates twice this year and it looks like people are expecting for them to cut rates once agai
Know so so going into that but the Federal Reserve has already cut rates twice this year and it looks like people are expecting for them to cut rates once again in their meeting next week and then again in december when they meet again so people are looking at these expectation of federal the feds cutting their rates 2 more times just this year and thats the most that its happened in decades actually you know unemployment has traditionally been a lagging indicator so president boasting about what a strong labor market this is thats not really saying much at all so meanwhile on the trade front with President Trump theyre set to meet with china next thursday for their 13th on trade talks is there any improvement in their relations well the u. S. Merchandise trade deficit narrowed from july to august according to this new report released today by the u. S. Department of commerce but the china trade deficit looks like it narrowed down in august as exports rose to a fire much high in the u.
Correspondent john king is on his delve into the details of the new revelation to get into a bit of the business mindset lets go. The september jobs report is out and the numbers show a tight labor market as the Unemployment Rate dropped to a 5 decade low the top line data looks good with 10 industries adding jobs 3 losing and one unchanged alleviating some concerns on the street and boosting the markets today but lets take a closer look the payroll report was rather stagflation area as wage growth was flat stagnating and posting the worst annual growth in one year if we take out government jobs private payroll added only 114000. 00 jobs which is the 5th lowest private jobs in the past 3 years and finally if we take a look at the composition of job gains that wasnt so great with only low paying jobs in education and Health Category at the top meanwhile you have a decent ration of wages in high tech which previously was the fastest wage growth and this all come. The worlds 2 largest eco
A look at the composition of job gains that wasnt so great with only low paying jobs in education and Health Category at the top meanwhile you have a d. S. L. Ration of wages in high tech which previously was the fastest wage growth and this all comes as the worlds 2 largest economies remain in a tit for tat trade war with no solution in sight heading into the 13th round of trade talks next week so with this mixed bag report expectations for an october rate cut declined to just about 75 percent from 93 percent. And here to dive into the details with us is our 2 correspondents are among tuesday well go sarah welcome back you know these numbers that we got out today what are the projections look like generally and perhaps more importantly how did they do compared to expectations for the alterations according to the u. S. Bureau of labor statistics so to stix the Unemployment Rate did decline to 3. 5 percent last month this is the lowest since december of 1969 so. Again but the nonfarm pa
A serious effort or is is just trying to put the blame on. I think that last point was not so bad that in britain there have been suggestions johnsons plan was drafted specifically to be unacceptable to islands and hence the e. U. Paving the way for a no deal or crush outbreaks it at the end of this month it is not an outcome we seek a tall but let me tell you my friends it is not come for which we are already told some spoken on the phone with germanys chancellor Angela Merkel his irish counterpart leo veronica and the president of the european commission. Hes due to hold more talks this week. Hes also seeking to suspend the current session of parliament next tuesday before a queens speech a week later launching his new legislative agenda youre going to steal fields because opponents dont trust him some fear hell try to bypass a law passed last month a bludgeon him to seek a break that extension if he doesnt have a deal by the 19th of october thats just after the next day you summits.