Transcripts For CSPAN Washington Journal 20140607 : comparem

CSPAN Washington Journal June 7, 2014

Now been replaced. Perhaps you were directly affected by the recession and want to relay your experience. Here is how you can do so. If you live in the eastern or central time zone you can also weigh in on our social Media Channels as well. Address. S our twitter you can send us an email too at journal cspan. Org. The numbers came out from the Labor Department yesterday. 217,000 jobs added in may. The Unemployment Rate staying the same at 6. 3 . This related to a story we saw yesterday about the jobs report, but it also talks about those jobs lost in the recession, saying perhaps you were one of those folks that lived through the recent recession. A. B. It changed your life somewhat. If you want to relive those experiences and how the recession impacted to you impact you as you are calling in we will get a look at these numbers. The Senior Business editor for npr joins us. Specifics about the numbers. One of the things i read is that the suggest a goldilocks approach when it comes to battling the numbers of the economy. If the economy were growing way too quickly, if you are unemployed that may sound great in the short term. Over the long term that may prompt the Federal Reserve to raise Interest Rates more quickly. That would slow the economy down a little bit so inflation doesnt take hold pretty you t want a wage and price take hold. You dont want a wage and price spiral taking place. That is really where we are right now. A pretty good report in that we have had four straight months where jobs have increased more than increased by more than 200,000 in a month. Having a fourmonth stretch like that for every month job growth is very solid, not too strong but a good, that hasnt happened since late 1999. That is a pretty long stretch where we havent seen that kind of growth so most economists thought this was a good report. Host to we see the ripple effects of that . Jobs are the keys to the whole economy. If you are adding at a regular pace like this that is steady and reliable people can make plans for a life again. You really cant go out and buy a car or buy a home or anything if you dont have the ability to prove you have a steady paycheck. That right now, especially in the Car Dealerships here in washington. Be lots ofere will to look atg out cars. Very cold january and february so there was some delayed buying there. Now people are back in that market. Cars are flying off the lots. That helps to ensure that we are it seems crazy to think of it this way. This makes it seem like we havent lost momentum, we are rolling along pretty well for you that is all good. We always see the unemployment figure when it comes to categories, with at 8. 6 , leisure and hospitality at 8. 1 . You probably study these categories more than anyone else. Tell us what is important to know about the specific jobs and what it means. Month of may the thing that was encouraging about this report is that the job growth was very dispersed. It was across a wide spectrum of jobs. We did see gains in manufacturing and construction. But also leisure and hospitality. It looks good for the summer tourism season. Where the job losses were concentrated, it is a tough time to be a postal worker. A lot of federal jobs got cut. About 5000 federal jobs were lost and about half of those were with the postal service. There are some spots where there is trouble there. In the industry is changing and shifting. For the most part across the board this was a solid report. Having said a bunch of good things about what is going on over the last four months, it is important to step back and take a look at the big picture. Have 9. 8 Million People who are unemployed. The Unemployment Rate is 6. 3. That is not a great rate. We need to get the Unemployment Rate down to five percent over time. Keep having these kinds of strong hiring sprees over periods of many many months to get back all the jobs we lost. We are at prerecession levels of paychecks. A more and more people come out people are being born in this country at a faster rate than we are dying off. We are still missing about 7 million jobs. We need to keep adding these jobs to absorb the 9. 8 Million People who dont have jobs and one third of those are longterm unemployed. They have been looking and looking for more than six months. Is still a lot of healing that has to be done out there to get the economy back on its feet. These are the kinds of numbers you want to see to make sure you are heading in the right direction. Host she highlights what you talked about, the number of jobs that were brought back. Then she asked what is happening with wages. Hourlylast month at the wage was up about a nickel. Overall wages are 2. 1 higher this year than they were last year. Likedoesnt exactly sound we are all running out to celebrate. Dont like that cigar with a 100 bill just yet. It is better than inflation. It means the buying power is picking up. It is still far below what they should be. Wages have been depressed and that is a function of a lot of things but especially that there were just too many people looking for jobs. Employers to need to ring these vested need to run these wages. Now that the economy is tightening, you are seeing almost to labor markets. Peoples the one where are low skilled and those wages are still really depressed and theres way too much slack in the wager in the Labor Department. Jobshe really skilled there is a tremendous amount of competition and wages have been shooting way out. That havesome studies been out that show that if you have a degree in petroleum engineering, 22yearolds just , theyting with a degree are getting salaries that are averaging more than 95,000 per year. Ask around, see if there are any petroleum engineers. That is somebody who can take you out to a nice dinner. There is a very uneven job market and wages are quite uneven depending on your skills. One can only hope it will start to drive up their wages a little bit. It. Thank you for your time. He be were one of the folks that maybe you are one of the folks i got caught up in the recession. Regionally. He lines lets start off with charles outside of washington dc in alexandria, virginia. How are you . Caller im fine. I am starting a new job on wednesday. It is a telecommunications project with the National Weather service. I have spent the last 10 years in iraq and afghanistan. I am a civilian contractor on Different Military projects. As the military work has been winding down consequently the civilian contract support work has been winding down as well. It is not impossible to locate a slot in afghanistan but it is very difficult. Open in thee measure d area so i jumped on it. Host did your life changed at all as far as your consistency of work or Lifestyle Changes . Caller as long as there was military action in iraq and afghanistan i was always able to find work very quickly. Down, down, down with the number of work and the combat zone. So this job popped up. Ring the last 10 years i worked almost constantly a broad. Be interesting to get back on the beltway crawler again and go to work without a flak vest. For joe is up next georgia. Company. Have a i got shook with this recession. I didnt even sleep last night. Hard to elect a governor. A we have to we have to elect more conservatives. The recession has energized me to work harder to elect a more conservatives like ted cruz. Takeover, you are going to hear a lot about it. Be the numberl one bestselling book of all time for conservatives. This recession has made me more to term and to work hard and elect people like out here in georgia. I am energized to work harder. Host can off of Facebook Says can off of Facebook Says of Facebook Says again, for our first 45 minutes, you may be one of those people. Facebook is available to you, twitter as well. Ournal cspan. Org is email. You can give us a call on the line. Terry,ear from hagerstown, maryland. Caller i have done well during this obama recession thanks to Economic Policy for the past three years. I have been getting a lot of overtime. I work for one of the major mortgage servicers. And because of the massive increase in foreclosures, bankruptcies, short sales, our department has more work than it can handle. I have done very well. I was able to purchase a brandnew car and last august i already have a third of the principal paid down. I am reading correspondence from people coming in, they cant find work. They are working multiple parttime jobs. They lost their Health Care Coverage and got hit with a lot of medical bills. While im hoping this insanity of liberalism is put to a rest in this upcoming midterm 2016, thank you, mr. Obama. Your gross incompetence has done very well for me. Host this is john from pennsylvania. How the recession impacted my life is that i try to sell my house with a realtor. Inost 125 thousand dollars equity. I cant even break even with my house right now. I cant even get the down payment i put in, the 50,000 are put down on the house. Because iy frustrated want to get out this house and the housing value in my area is going completely down. I wont be able to recoup anything. Host do you have people even considering it . Caller there are some new houses, brandnew construction, for 259,000. My house for 340 thousand dollars and cant even make a profit on the. The schemes that they play back then, the Housing Market divided the lines regionally. Our next caller is from maine. Caller good morning. And the recession had impacted our family very severely. The company i worked for, which manufactures luxury goods, came very close to folding. A good three or four years for the market was very tough. Down, we lost most of our employees through layoffs. Has been the last two years the company has had a substantial turnaround. We are about as busy as we have ever been. Host what do you attribute that to . Caller i think the economy has been growing steady for quite some time. For those that could of four luxury those that could afford luxury goods business is great for us. Host how much do these cost . Some that go as high as 5 million. Host steve is up next from georgia. Good morning. I did fairly well. I paid off my mortgage right before the recession began, so i own my home clean my home free and clear. I am a job at the time, currently retired. I have no complaints. And your lifestyle did not change during that time. Host and your lifestyle did not change during that time area bank time period . Think the Obama Administration did a wonderful job in protecting our country economically in the broad sense. Host jobs being replaced. About 9 million of them now replace. We are getting your thoughts on how that time affected you. 217,000 jobs added as well. The phone lines one of the people talking about the jobs numbers as today, it is the chairman of the Economic Advisory committee. Hugh offered the abas take on the numbers. Here is his thoughts. [video clip] picked one were to describe the mood in the room yesterday as we discussed our forecast and form the consensus view it would be optimism. We are optimistic that we will see solid growth Going Forward through the rest of this year and into next year. In the First Quarter gdp growth fell one percent. Of that was in part the weather. There was a global slowdown in activity during the First Quarter that looks an awful lot like fairly violent inventory correction. Bad news was confirmed this morning by the may and employment report may implement report. May employment report. It is confirmation of our sense that we will not only have a decent balance of activity, we expect gdp growth will reach almost four percent in the Second Quarter of this year. And then we will settle into Something Like three percent growth Going Forward. Host a couple of tweets dorothy is up next from louisiana. Caller hi. Im glad to hear things are going better. Old and i went having papers to buy food. I worked a swing shift at an airplane factory and all that. Why this story is special is wet in the 80s or 90s moved to tulsa from denver and my friend called me, she had a friend and this man had been in the cow in doc how in poland wheredacau in poland the prisoners died. The general that was in charge released allt he p all the prisoners. They found huge amounts of beautiful paintings and art fromazis had stolen people. He had previously been a conservator of art. Host bernard from philadelphia, pennsylvania. You are on. Go ahead. Caller i am looking for a job right now. Im going to start new job pretty soon. Youre looking for a job but you ready to start a job . What is the work in . Rj is up next from North Carolina. My wife and i have both fared well in the recession. I keep calling i keep hearing these collars blaming president. Bama they forget it is the republicans who gave us the recession. The republicans fought tooth and nail to keep obama from recovering during the recession. It is bad policy all the way around. How did the recession specifically affect you . Affected me somewhat but nothing devastating like it has other people. Host how so . Our house, that is bought and paid for. Our vehicles are bought and paid for. Our College Funds for our kids had to be put to other things but we managed to get through. Franklin. Is rj from you may have seen this already but the cia is joining twitter and facebook. From the Financial Times closed quote this morning the Financial Times this morning indy from new jersey, you are next. Caller good morning. , i am as the recession very fortunate that i am still working. I work in the Healthcare Industry and it seems like the hospital situation there is not much hiring. Is not sure if this nationwide but there are actually layoffs occurring in the hospitals. I am from the new york metro area. Hospitals are closing. Staff that is remaining are doing two jobs. People are doubling up on work. Of that goes to nursing, radiology employees. Name it,partment and people are wearing two hats instead of one. Payouts are now less to medicare and medicaid. We turning less payments. Theyre trying to make staff take on two positions, performing two jobs, instead of hiring that extra person. This Affordable Care act is actually burn out actually burning out hospital staff. They continue to do more work than is humanly possible. It is really not good for the health care industry. Even able to not find a job and health care. Health care employees are working into their late 60s. The Affordable Care act is not really helping me. It has impacted my life because now i am forced to work twice as hard for the same salary. Thank you, mr. Obama. Of host as part of the Day Celebrations in france, World Leaders gathering for that and russian president Vladimir Putin becoming a central figure in stories relating to that, such as in the New York Times this morning this shows that you six second first street it shows president assad hooting and obama at least shows president putin and obama at least talking. Chris from buffalo, new york. We are talking about how the recession impacted folks who are calling in. How did it impact you . Caller i have been the lucky one. Old, neverrs collected a check of unemployment in my life. Basically two jobs my whole life, working in the Restaurant Business and for one of the largest printers in the 431 years. I also did Building Maintenance for seven of those years. Have a wide range of experience in different fields you are always going to find work. Presently i am unemployed and i am calling for another job tomorrow. I have been unemployed for only two weeks. There are jobs out there if you are willing to work. That is about it. Host are the jobs you are looking for making the kinds of wages you have earned in the past . Are they lower or higher . Caller i am making more money in restaurant work than i used to make. It is comparable to factory work created to factory work. I work for one of the Worlds Largest printers at one time. Down union and they moved south and got rid of our union. It put an end to the printing business in buffalo. Thank god there is the cooking because i am a professional seafood chef. It i just got i just got a job today that i should be starting next week. Host a story about an american being held by north korea. This says tony is in iowa city, iowa. Been tough i have been working since 2005 but then it has been kind of spotty. The economy isnt great but there are still jobs here. There is a lot of competition. I went back to driving cabs our time. I want to comment what somebody said earlier about the recession, it is a 9 11 recession. Andhould understand that tried to prepare for it so i am going to try to relocate and find work somewhere else. States are you looking at relocating to . Texas, it looks like there are a lot of jobs there. Im too old to join the military. I wonder how many people fall into that . I dont want to see all these kids huffing over these hills without somebody to back them up. Host that is tony in iowa city, iowa. The green they press gazette has a story this Green Bay Press gazette has a story this morning. Marie from reno, nevada, good morning. The recession impacted me in a couple of ways. I am in my early 20s and i cannot find a job. They asked me if i have experience. I dont have any experienc

© 2025 Vimarsana