WRKO>Audio & Video on Demand>>Dion Rabouin (Yahoo Finance, Labor Market)

Dion Rabouin (Yahoo Finance, Labor Market)

Aug 10, 2018|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

The financial exchanges all over New England to go to financial exchange showed don't come and search for the station closest view this as the financial exchange radio network. Thank you for spending your Friday morning wit us and this segment of the financial exchanges where if you buy leader frank with leaders zoo miles reward accounts. Earn an absurdly high interest rate of 1% cash back with debit purchases and an extra 10% back when you use your card that featured businesses. Qualify for these and other rewards cult leader bank at 8776917. To 900. That's 8776917. To 900. Customer must meet eligibility requirements to receive zoom mile rewards kinda leader rank for complete details member of BAC. The before the break we're talking about this story in New York about them capping up the number of Hoover and lift drivers that they're going to allow. Yeah poll question it is our poll question for the day and go to financial exchange showed dot com wanna I really do wanna I don't quite think about that whenever one of my pals in the taxi pulled Logan reporters listening to 68 RKO. Yeah well weigh in on this when I have a sense of how they might vote to reacting to you if you're a taxi driver you might have day he may have a specific team but I wanna see what other people think about this because. It would generally our listeners are pretty anti regulation but there seems to be. Some demand at least for more regulation on the specific companies these ride healing services so. I go to financial exchange show the poll question is should all cities put a cap. On Hoover in lifts like New York just did. In now now obviously in Manhattan and the rest of New York. This year's big disrupt the the dollar. You did it's it's easy to forget this year and emerging markets are getting crushed all other currencies and the dollar seem to be getting just railed on. But last year the emerging markets index you know it was up 30% the currencies are doing well. But this year the the dollar is you know the only currency that. And and were really being reminded again this year that. All trade is done in dollars and I think it's gonna start impacting our exports but hasn't already. At some point that you know it actually is gonna catch up on us and you know it's amazing number and heard in the street com today. In the Wall Street Journal five trillion dollar day foreign exchange market US dollar is on one side of 88%. Of all of those trades you know we've. So I worry about how long do we remain the world's reserve currency but you know where the rubber meets the road. People still wanna be in dollars one where the other. It appears that way and certainly hasn't slowed down on the economy yet. We're joined by Donna Henry Bruin from Yahoo! finance right now he's got an article out that the labor market may be even stronger. Than people realize. You know I I can't really imagine how which could be stronger but. Diane thanks for coming argue points out that the labor force participation rate which has been getting better and better. Is perhaps even better than the numbers are talking back to you can you point to some specifics here. Sure yet thanks for Anemia the number of violent my apologies. Then an award or but yet you know as we look at the labor market unemployment and all the numbers. A lot of people who have been you know kind of throwing cold water on numbers. Have always pointed to Tuesday and that's the wage number and the labor force participation. Both of those have been kind of stuck in neutral not really growing. In the way that they did nineties or you know whenever we had previous recoveries sessions have been in strong markets like BR though. If you look at the leap forced to patiently which is the number of people who were able bodied adult. Sixteen to about 64. Who just have the capacity and ability to work but are or not it's been about 6066. Expect that respect and for whatever reason that had been. Grow well my story book that is that prime age but it is a crime each patient. Which is people when he can get it before which are actually the most important part of labor force. And that number has actually been trending much higher. Has passed three year. Attack Erica that that's sort of makes sense because I've been seeing you know. A lot of stories about how we have sixteen Ted twenty year olds aren't really getting summer jobs are really working at this point in time as much as they were in the past so I can see that dragging down labor force participation rate. But just how you know how significantly has that 25 to 54 group grown. And I guess who does any of this impact what we've been seeing for the lack of wage growth. Yeah and act that actually (%expletive) so this has been peaking. Are peaking hires and about when he is team. And it should really start to pick up wage growth because those that he earners who are going to demand a high week. You mentioned younger work is that actually what really been kind of dragging down average. Add in the fact that the US population has been to older. And that there are more people in bank group of workers were bitten by the state seventy at. He grasping at work longer they're being paid a longer at the wave you were kind of pushing older workers to retire around crisis. And the years that followed. Hadn't really been happening though people who are older they don't really demand weak is that kind of happy to be in the gap at they don't move around which job. Wears people on that twenty to fifty or segment. There and it's a higher job they're an abortion to pay them more they're also gonna try it more or revenue to the company because they're gonna creep like he is there more productive. Things like that though there's the debt repayment should really be a hail wind in terms of boosting the economy further going for. Did you sense of should we be thinking about statistical margin of error in any of these. Numbers and you know how does that come into play because these are based on and they were forced participation is essentially of a big Department of Labor. Public serving correct. Yes Lou there's that always I'm gonna think about. The thing is though this isn't a one off worst of it happened over a couple months or even you know three or form a period is that while it. Uptrend it's been happening since. He doesn't that if you read the article I gotta buy dot com you can see the actual chart from DL at the Bureau of Labor Statistics. And it just you know it's very clear there's there's downtrend. From about 2008009. To Tibet that teen. And then you speed is very clear up though month on month to kind of at the lows but there's a very clear trend. A direction. Yeah that's a really good point to make Andy you pointed out again that the labor force suspicion it measures what sixteen to 64. We've got a huge group of the population now I would guess between 65 and 75. That are still in the workforce this point that probably aren't being measured by any of these statistics. Well that that's partially true though they were forced to the patient when they look at able. I think I forget the actual name of the term but it does it stick Tina sixteen and I think that I can bet that actually does measure those were respected Pakistani side. When am I about the prime meat workers that just 22 that the board yeah and then when you look at the just overall labor participation. Bet anyone that he kept. Yeah it's I mean I don't find that I think your right to call out this particular segment of the population because. The mayor of the weighting of our population towards the older segment is greater than it's ever been did I really appreciate come and on this is interest in reporting. And him we're gonna have you back on if we don't see any wage growth next twelve months days it seems like all signs should point. Towards that coming wage growth at some point soon we've been calling for her for years. They definitely should not one of the big conundrum that economists have been trying to figure out for awhile to wipe out an ad. It does look like restarting the B we get the PPI number this morning which. Again this morning towards Morse solid growth in terms though. Wages and went earned not a but wages and overall inflation figure out so we should start at the end. You know obviously I can't guarantee anything but there's simply no reason which it. Agreed thanks. They.