Name: Why hiring is slowing and job cuts are up
Uploaded: 2015-10-02
Duration: 1 min 30 s
Description: The economy added only 143,000 new jobs in September.

Last month, you described the Jobs Report. I think your words were, we're screwed. And this month is worse. So, what's your take? So, yeah. We're even more screwed. The silver lining to it would be that if we'd been recovering jobs, if lots of people have been going back to work. Then yeah at some point you expect the hiring to slow down, but that's not really whats going on. It's just lots of people dropping out of the work force. We still have this huge gap between the participation rate, what it used to be and what it is now. So the fact that hiring is slowing and yet so many people are sitting on the sidelines of this economy, it's quite bad. So do you think that, you don't think 5. 1 % unemployment is necessarily a good thing, and the fact that month by month the average monthly jobs are still around 200, 000 jobs? So, 5. 1 % is a good thing, but it doesn't factor in those other people that are on. Doesn't address what you're talking about. Exactly. So it would be higher. But that being said it's a good thing. But right now the pace, yeah we are around 200, 000 jobs but the pace is significantly lower than last year and slightly lower than two years ago. So we're slowing down, right? And the trend is pretty consistent now, and the past three months is one of the last three month stretches that we've had in a long time. [ MUSIC ]

Why hiring is slowing and job cuts are up

The economy added only 143,000 new jobs in September.