Breaking Down Today's Jobs Report

Friday, July 06, 2012

Job seekers look for employment at a job fair in Los Angeles on September 20, 2010 Job seekers look for employment at a job fair in Los Angeles on September 20, 2010 (Getty)

Quincy Krosby, Prudential financial market strategist and former U.S. representative at the I.M.F., discusses today's jobs report, the U.S. economy, and what it means for the 2012 election. And read our show prep - the jobs numbers we're trying to make sense of this morning.


Quincy Krosby

Comments [17]

Randi from Jersey City

"We've gotten to the point in this country where what we most produce is self-regarding fluff -- lifestyle, entertainment."

^^You nailed it Michael. I am cautious about NYC's new "tech" community because many of these new companies exist to produce that "fluff" - content and media for retail, fashion and entertainment companies. The "product" is eye-catching distractions to get consumers to spend more.

Jul. 06 2012 10:37 AM
The Truth from Becky

Our economy has not been functioning at 100%, for years, years before 2008.

Jul. 06 2012 10:28 AM
Lillian from Jersey City

Martin Chuzzlewit,

All the abandoned, empty factory space in New York are becoming luxury condos. So someone has money.

Jul. 06 2012 10:28 AM
Amy from Manhattan

How can Pres. Obama's policies have cost jobs when they've never been allowed to go into effect? Again, Republicans are keeping him from getting anything done (w/few exceptions) & then saying, "See? He's not getting anything done!"

Jul. 06 2012 10:26 AM

Ron Paul 2012...The Fed can do nothing other than dilute the money supply...

Jul. 06 2012 10:26 AM

Geez, the FRB has no power to spur real growth. In the current liquidity trap, all the FRB can do is create asset bubbles

Jul. 06 2012 10:26 AM

"Who picks the president..."

Their financial contributors. And they have already picked Romney.

Voting has nothing to do with picking the prez.

Jul. 06 2012 10:24 AM
Sheldon from Brooklyn

Republicans prefer to let this country burn than "allow" Obama to serve a second term....Tax cuts to the rich have failed miserably..

Democrats are just pathetic.

Jul. 06 2012 10:23 AM
Moishe from Brooklyn

"Infrastructure jobs" will not help like they did during the depression. First, they go to already working unionized shops which work to keep "others" out and keeps the pricing high (so fewer people are employed overall). Second, machinery does much of the work. Third, we are in debt for almost 50% of everything we spend at the government level.

Jul. 06 2012 10:21 AM
andrea from Maplewood

How many jobs would there be today if all Republican governors had not
cancelled shovel ready infrastructure projects across the country?
Chris Christie cancelled the tunnel to NY, Florida and many others cancelled high speed rail projects that were promised some Federal funding,
etc. All a Republican strategy against Obama. The AMerican people lose.

Jul. 06 2012 10:19 AM
fuva from harlemworld

Nah, Brian, the "root" of higher black unemployment and economic stress goes much deeper and back much longer...

Jul. 06 2012 10:19 AM

"Feuling" job growth with tax cuts has been tried for 40 years and the opposite has happened.

Jul. 06 2012 10:18 AM
MichaelB from Morningside Heights

The US has been on a downward slope for decades. There are so many problems in so many aspects of our economy. Even though I don't agree with Martin's one-sided argument, I can't argue that one of the areas that needs fixing is the entire role of unions and their relationship to both their membership and management. Abuses reigned on both sides -- each took advantage whenever they could, all to the ultimate harm to all concerned.

But there are many other areas that need a complete top-to-bottom revision/reform/review. There IS an important role for government to play in terms of funding basic research, infrastructure, keeping businesses honest & competitive, HEALTH, and lots more.

We've gotten to the point in this country where what we most produce is self-regarding fluff -- lifestyle, entertainment. A society of adults holding onto their adolescence, and our children infantalized.

A person loses his or her job, and starts a "business" to becomes a life-coach for other unemployed people. Pretty soon, the entire workforce will be life coaches, all being paid to "help" other to find jobs which don't exist.

Jul. 06 2012 10:17 AM

The stronger numbers at the beginning of the year were related to warm weather influences on such sectors as construction.

Jul. 06 2012 10:12 AM
David in NY from Brooklyn

Alabama didn't "create" any jobs, it stole them from another state. So-called "right to work" laws aren't a national solution because they just shuffle jobs around and substitute lower--paying for higher-paying jobs. They don't make any more jobs.

On average, workers in so-called "right to work" make $1500 a year less than those in other states.

In other words, "right to work" is a classic conservative scam, benefiting guys like Mitt Romney, who made millions taking over companies and cutting wages one way or another.

Jul. 06 2012 08:59 AM
John from office

Martin, whats with the Obambi usage. Your point is strong, no need for the disrespect of the President.

Jul. 06 2012 08:47 AM
Martin Chuzzlewit from Manhattan

If Obambi wants to create more jobs, then he should encourage more states to become "right-to-work" workers aren't forced to join unions as they are in, oh, let's say, those bankrupt blue states with the union hands around their necks. (Gee, there is plenty of abandoned empty factory space in New York and California.)

ALABAMA was just awarded a new Airbus plant that will build 50 A-320 jetliners a year. Mercedes Benz and Toyota have started new plants there as well. TEXAS and MISSISSIPPI are getting new Eurocopter plants.
Even the EuroLefties recognize what Amercian Lefties won't admit....that a rebirth of manufacturing can occur in the USA .... and contrary to union party line propaganda, at pretty darn good wages, too.

Jul. 06 2012 08:06 AM

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