Created 4. 8 million jobs, and that is much stronger than expected almost every single sector improved, bringing the Unemployment Rate down to 11. 1 . Isnt that the kind of news that makes people want to buy pretty much anything . Then the rally did taper off near the end of the day. The dow only dwayne e gained 92. Those are big numbers, but we got spoiled, didnt we what do these numbers mean what reflects the state of the labor market in the middle of june how does it impact your money . First, you need to understand that were still nowhere near where we are before the pandemic struck we still have a lot of ground to make up. The economy was smoking hot. I, however, think its a legitimate comeback. Its a legitimate comeback and a comeback gives you more latitude to buy stocks that depend on a healthy economy, not just an unhealthy one. But these are before the latest outbreak thats forcing many stocks to go back into lockdown mode, so its a glimpse into a post covid future that we ha
Anticipating moving into early to next week. Contra costa county will decide about that on monday. Santa clara county in the south bay currently remains in phase one and its not yet providing the date on when it will move into phase 2. That decision not to move forward in Santa Clara County is fueling some frustration for Business Owners despite making significant headway in the Hospital Capacity testing in infrastructure. County Health Officer doctor sara cody says conditions there havent changed much. But the San Jose Downtown Business Association very unhappy that local orders dont match what other lawmakers in the bay area and the state are putting into place. Its really frustrating that were all not on the same page here there was a youre going to be open by this date folks can start planning been scheduling weddings again in making plans right now its so up in the air. Everybody still twisting when too much that is no way to run a business thats no way to bring it come back. With
Congressman kevin brady will be with us at 8 00. For on hour on set. We have united ceo who will join us at 8 30 a. M. Before all of that, we have two hours. We have a big show today. A lot of special guests. Ron baron. I think this is the 11th year squawk box has joined you live you bring together the investors and ceos and talk to top managers, you also entertain them big guest youvecli included inh past have included rod stewart, and more the star front and center has to be the companies you are vested in lets take about your theme. Why whats next . We are looking at faster growth in the future for the economy, stock market, what do you mean people have higher amounts of cash now Central Banks cant agree on what to do there the fear is estimate those funds for years now a superstar investor cant raise enough to have a business that is viable theyve done well 11 years now they dont want to give it back the stock market today is the same valuation as it was then. Then, it was a mixed
20 at 35 its the highest in the industrialized world at 20 were on the very low side, so well be very competitive. You look at china. Thats 15 other countries are 18 and some are 23 , 24 the average is actually of the primary competitor is actually 23 . So well be pretty much below the average, and well be able to compete, and despite all of that and despite before we even get this massive injection, we have a stock market that has hit record highs, 81 times since our election victory 81 times its at a new high right now unemployment is at a 17year low. Very shortly its going to be at a 19year low. We think the numbers are going to continue to go downing and we are also getting into the pool of the 100 Million People that are not working. That pool is now coming back as you know, thats not considered in the low employment numbers which means we have a lot of people that want to get to work and that will be working. Consumer confidence is at a 17year high weve created nearly 2 million j
Highs. A government shut down averted by now well talk to gary cohen from the white house in a few minutes. And elon musk talking about the race to mars first up though private sectors up 221,000 in the last month upward september and october added jobs later on we will talk to gary cohn the director of the president s counsel. Its up from the prior 2. 4. Look, i have very little to pick on. I think this is a very good number the thing that caught my eye, for that emphasis, what caught my eye was manufacturing added 30,000 jobs, kind of a wr renaissance happening in this country. 2. 6, first time under 3 thats a record low. People making jokes this morning what robot revolution are we talking about. We have workers having plenty of choices. Well, i mean, it may be coming but there are plenty of plants being built when you talk to the Utility Companies whats going on in the southeast portion of the country, tennessee, and kentucky and texas, they cant keep up with the building, and a lo