employment report. forecasters say the economy very likely added 150,000 private payrolls. at 8:30, we ll get that weekly jobless claims number. also a revision to the first quarter gdp. and later in the morning, we ll get chicago pmi and kansas city fed survey. and one more potentially market moves item, may same store sales, all throughout the morning from the retailers. and that can give us a little bit of an indication of how the consumer is feeling. costco comps up 4%. that was a little bit short of consensus. let s get you up to speed on the top corporate news. i m standing right now on a little bit of a putting green. we ll get to that. jm morgan reportedly spitting out the special investments group from its troubled chief investment office. financial times saying executives are taking steps to clean up the division that caused the losses. the unit will be moved to the corporate division and prevented thousand from seeking fresh investment opportunities. we ll have t
states to the win column. and the resource of the economies slows to a crawl in the latest quarter. grabbling the local dollar and reviving talk of easing. hello. welcome to the show. you re watching the worldwide exchange with christine tan and me, of course. let take a look at what s going on around the markets. yesterday we had this big selloff struggling for direction. if we look at the movements overall in this index, we re higher but just by a fraction. they keep bouncing around. between upward 1% and 2% overall. looking around the region, though, this is how it s varying from country to country. in the uk, the ftse 100 is up by 1.1%. similar moves for the dac. the cac is moving. we are struggling to get back onto the upward trajectory after the selloffs we saw yesterday. just to remind you, the cac was down by 3.6%, the dax, 3.3%. let s move on to some of the other markets and see what s going on here. the euro/dollar, 1.018. as part of the big markets yesterday
hype? time is running out and a lot of work is ahead. it s friday, april 1st, 2011. we re not going to do any idiotic april fool s stuff. because twitter has officially ruined april fools. we have to say good morning. we will start with breaking news on the economy. the unemployment rate dropping again. it s inched down to 8.8%. that s the lowest in two years. in march, the economy saw a gain of 216,000 jobs, but 13.5 million americans are still unempl unemployed. the labor force participation rate. that s holding at 64.2% with 921,000 discouraged workers leaving the workforce last month, giving up on their job search. john sylvia is a chief economist for wells fargo securities.
john, is this is there any hidden bad news in here? is this a straight up good jobs report? i think it s pretty much a straight up good jobs report. take it for what it is. i think it s a fair representation of the u.s. economy. i think when you highlighted a couple of really key points, to me, i say it s structural unemployment. there are people unemployed for long periods of time. they probably have the wrong skills. they re in the wrong location and as you suggested earlier, the participation rate has fallen, so we re not getting a lot of people involved in the unemployment market, but generally, it s fair to characterize this as a good employment report. lot of job gains in manufacturing and services, but job losses in the government sector, again, not a surprise. a lot of people were wondering if this jobs report would reflect some of the world events we ve seen that could
technical problem. he told us we had two minutes. we re already over. i learned that i have the script to the lost episode of way too early. i see that as a tuition bill. we are 20 over. wrap it up. if it s way too early, what time is it? it s morning joe. have a great weekend. well, positive job report out this hour. the unemployment rate ticks down slightly to 8.8%, ready for this. that s the lowest in two years. 216,000 new jobs. in libya, as the u.s. ends its air combat role, gadhafi s regime continues to fracture another high level defection. signed the libyan leader may be looking for a deal. in congress, we re one week away before a possible government shutdown. still no deal, but is it just hype? time is running out and a lot of work is ahead. it s friday, april 1st, 2011. we re not going to do any idiotic april fool s stuff. because twitter has officially ruined april fools. we have to say good morning. we will start with breaking news on the econom