2011 and that led to summer stagnation. is this going to continue on for the rest of the year or could we see a drop off? good point. i suspect it will not be a straight line for the job market. if you told me in the spring summer and we start getting 150 k or 175 k i wouldn t be too surprised. in part that is because the economy is being hit by higher gasoline and oil prices. that is going to slow growth. also the weather has been fantastic. warm weather has juiced up the economic data. there will be payback. the ups and downs i think it is fair to say the job market is moving in the right direction. how much of these numbers are due to the fact that a lot of people have stopped looking for jobs? that is one of the main arguments from republicans on capitol hill, they say people have given up. do you see that in these number
and we begin with the jobs report providing some small relief, a silver lining i guess to what has been a gloomy economic picture. 117,000 jobs were added last month, that brings the unemployment rate down to 9.1%. mark zandy is chief economist of moody s anl lit ticks and joins me now. the reaction is going to be some relief but it s still not enough job creation to even keep up with the pace of population growth. mark, what s your take? well, you re right. but i ll have to tell you, i feel relieved if it was a bad number in the context of what we ve been seeing in the stock market, it would have been a pretty ugly day. this is a very good number in that context. you re right, andrea, that this isn t enough. i mean just to stabilize unemployment, we need consistent monthly job growth of 125 to 150
as for teach are. you can t cherry pick who you are going to negotiate 0along political lines. let me give you an example of the practical ty cbs atlanta news and dire results of collective bargaining. nassau county in new york state. it is now had to bring outside financial authority because totally broke and ruined. it pays the police officers 150,000 dollars per year. more than half the police officers in nassau county. 150 k per year or more. plus they have a provision in the contract which is a cash out. some of these guys have been walking with 800,000 dollars cash out. reporter: the cash out is unused sick and vacation pay. we had a town in new jersey which had to go out andboro money to pay these cash out because it came to over 1 million and a half dollars just to let 3 cops retire before they got a tickle of the pension. i have randy former head of the teacher union who walked away with 194,000 dollars as a check for unused vacation and
teachers. you should not cherry pick for those along political lines. let me give you an example of the practicality and dire results of collective bargaining. nassau county in new york state. it has to bring in financial party because it is totally broke and ruined. it pays police officers $150,000 per year. more than half of the police officers in nassau county 150 k per year or more. plus they have a provision in their contract which is a cash out. some of these guys have been walking with $800,000 cash. the cashout is unused sick and vacation. it is. we had per sip knee to po bow money for the cashouts because it came to million and a half dollars to let 3 people retire. i have randy winegarden head of the teachers union who walked away with $194,000 as a check
teachers. you should not cherry pick for those along political lines. let me give you an example of the practicality and dire results of collective bargaining. nassau county in new york state. it has to bring in financial party because it is totally broke and ruined. it pays police officers $150,000 per year. more than half of the police officers in nassau county 150 k per year or more. plus they have a provision in their contract which is a cash out. some of these guys have been walking with $800,000 cash. the cashout is unused sick and vacation. it is. we had per sip knee to po bow money for the cashouts because it came to million and a half dollars to let 3 people retire. i have randy winegarden head of the teachers union who walked away with $194,000 as a check