about, high-paying jobs or lower-wage jobs? interesting, recently lower-paid jobs. we got in another private payroll report, leisure and hospitality. those are jobs that are coming back because we lost those in covid. you want people in the leisure and hospitality sector to be coming back, as well. good news, if those are lower-paying jobs, it won t be as tricky for inflation the way higher-paying jobs has been like. we re seeing bank crisis, as well, thinking about recession as white collar recession, some higher-paying jobs you might start to see layoffs, but low-paying jobs, lower wages are hanging in and that is good for the economy. lawrence: so informative. i want to play this from senator kennedy, play it. how much will it cost to get us carbon neutral? how about 50 trillion, is that right?
karen kimbra chief economist for linkedin. steve, walk me through this number. it s confusing. yeah, well, i can say, stephanie, if you are not confused you are not paying attention. there s two different reports that people need to know b there s one report that gets data from the employers, another report where the government calls up people and asks them their status. the number you are looking at right now that s from the payroll report, that s 199,000. that number has been running very low on the initial reporting, and what they re doing is they ve been revising up continuously this initial report. i will give you an example. they added back 141,000 additional jobs to october/november. the number underneath that number, the unemployment rate, comes from the household survey. i think at the end of the day, stephanie, people should not be overly confused or overwhelmed by the data. the unemployment rate is what you need to know. it tells you the number of
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dr. liesman i have to go to you first. september jobs report was 194,000 huge miss and then it was revised to 379,000 almost double that number. do you think that s what could be happening here? yeah. thank you for conferring the doctorate on me on television, send the plaque, i ll give you an address. yeah, the story is that this payroll number has been revised consistently upward. i m not sure what s going on at the bls. it s an important issue. if there are two separate surveys one is reported the payroll number reported by businesses. the other is a survey of workers. that showed more than a million people were employed additional million people were employed in the month. so that s a big, big difference between the two. i usually side with the payroll report, but this time around, i think the evidence, stephanie is