Lets dig into the numbers. Paul is joining us right now, a professor of economics and a nobel laureate. And michael mckee. He broke down the payroll numbers early on. Eye,his really caught my the Unemployment Rate. Mike more people in the Household Survey got jobs, fewer people laid off, even though the labor reports rose during the month. Overall, as you mentioned, 1,370,000 jobs created, the forecast was for 1,350,000, so the economists got it right with their consensus forecast. In the biggest jobs categories, retailing at a 249,000, professional services 197,000, 147,000 in education, and 134,000 food and drink workers got their jobs back, but that still is 2. 5 million below the number in february. Construction at 16,000. That raises the question given how strong the Housing Market is, on whether we do not have enough construction workers. Manufacturing wasnt strong, but added only 29,000 jobs. Of theting fact, 24. 3 people working in august worked from home through telework. The
My name is stephanie aronson. Im the Vice President and director of the Economics Studies program here at brookings. Thank you for joining us for todays event, organized by our hutchens center on fiscal and Monetary Policy on how the fed will respond to the covid19 recession in an away of low rates and lowflation the topic is particularly salient since last week, following an 18month review of its Monetary Policy strategy. The federal open Market Committee will be a revised version of its longer run goals and Monetary Policy strategies. We are honored to have governor board of governor here to offer her thoughts on the topic. After we hear from her there, will be time for questions and answers from the audience and panels to convene our discuss with ben bernanke, janet 12k0 and two marketers there will be more on that later in the program. In terms of questions, if you would like to pose a question, you can do so at email at events brookings. Edu. Before we begin, let me provide a shor
Selloff. Yesterday the nasdaq fell almost 5 . Apple in terms of market cap loss biggest market cap lose ever in one day. The race for the white house turning to swing states. President trump talking tough on crime during a stop in pennsylvania while joe biden visited wisconsin for the first time in nearly 2 years. Later this hour i will be speaking with scott car presenter whose business burned down during kenosha violence. Coronavirus taking down the dark knight. Mornings with maria begins right now. Checking Global Market action, european losses, almost 1 gain in england, in france, more than 1 . In asia overnight it was red across the board really following wall streets losses on thursday, south korea, shanghai, japan all to downside man wanting in Fatal Shooting of President Trump supporter in portland is now dead, Cheryl Casone has more, cheryl. Cheryl thats right, antifa member was shot killed an overnight by officers. The 48 pulled out gun right before she was shot. He was wante
Another hard day for nasdaq which is lacking is spectacularly higher than the march lows. Now its falling back to earth like cooling embers. So far above the average that now its got to freefall the safety net which is by the way, 10851. Meanwhile, all the other nature industries are under pressure, all this on the heels of a report that while encouraging back on congress for more fiscal stimulus asap. Its a rough few days for the market. The last couple weeks, i saw a lot of names that i saw my subscribers when higher. It is frustrating to watch. Every single one has passed my target faster than i thought they would die anticipated a pullback so it didnt say, i asked myself, why didnt i hold on on to this for a couple of more days . Trying to beat the market on a daytoday basis is not but it takes a long time to acquire to discipline and maintain it in real time. My hope is the new investors out there do not have to learn these lessons the hard way. Yesterday a follower of mine on twi
What a big change, because at one point the dow, remember, was down 628 points. So this is really a different story. The nasdaq right now down 96 and the s p is down 11 points. The twoday selloff, by the way, in the nasdaq so severe this morning, it was actually within 25 points of correction territory. Since wednesdays record high of 12,056, the techheavy index is now down, as you can see right now, 103 points. Both snapping a fiveweek winning streak, the s p and the nasdaq. Were going to have our floor show trade thers ready with instant reaction for all of you. Now, the record selloff completely discounting a pretty positive august jobs report that showed an increase in 1. 37 million jobs with the Unemployment Rate dropping to 8. 4 . One company is helping to fill all those vacancies left behind by the coronavirus pandemic. Were going to introduce you to the ceo of shift pixie, helping big business find qualified workers in the gig economy. Plus, colleges struggling with infection r