Gross Says Job Growth 'Anemic,' Unemployment May Rise: Video

Fri, 06/04/2010 - 09:25 EDT - Bloomberg - Video News

Gross Says Job Growth 'Anemic,' Unemployment May Rise: Video

June 4 (Bloomberg) -- Bill Gross, co-chief investment officer at Pacific Investment Management Co. (Pimco), talks with Bloomberg's Tom Keene about the May US jobs report released today. Payrolls rose by 431000 last month, including a 411000 jump in government hiring of temporary workers for the 2010 census, according to Labor Department figures. Economists projected a 536000 gain. The unemployment rate fell to 9.7 percent. (Source: Bloomberg)
From:
Bloomberg
Views:
199

0
ratings
Time:
04:16
More in
Entertainment

Original article

Related

Gross Says Job Growth 'Anemic', Unemployment May Rise: Video
Bill Gross on Jobs Report: Economic Growth Doesn't Appear Self-Sustaining
Romer Discusses May Jobs Report, Stimulus Spending: Video
US Payrolls Rose 431000 in May, Jobless Rate at 9.7%: Video
Pimco's Gross on Investment Strategy, Europe
Unemployment Rate Drops to 9.7% But Job Gains Disappoint
Total nonfarm payroll employment grew by 431,000 in May but that total includes the hiring of 411,000 temporary employees to work on Census 2010, the U.S. Bureau of Labor Statistics reported today. Private-sector employment changed little (+41,000). Manufacturing, temporary help services, and mining added jobs, while construction employment declined. Economists were predicting over 500,000 job gains (given the large number of temporary census hires).
Headline Jobs +163,000, But Household Survey Shows -195,000 Jobs; Unemployment +.1 to 8.3%
ADP got the headline job number correct, I certainly didn't. However, one look beneath the surface shows this was actually an anemic jobs report. Unemployment was up, and the household survey shows a loss of 195,000 jobs. The household numbers are even worse because part-time employment went up. Jobs Report at a Glance Here is an overview of today's release.
Payrolls Rose 192000; Jobless Rate at 8.9% in February
El-Erian Says Pimco Investments Went Up Quality Spectrum: Video
Pimco's Crescenzi Discusses U.S. Jobs Report, Bonds: Video

Secondary menu