Strong labor market, despite GM

I co-hosted Bloomberg’s Daybreak Americas with Alix Steel and we broke down the jobs data. The labor market continues to look strong, despite a GM strike that distorted the numbers. There was an overall drop in manufacturing jobs–high wage, high hour jobs (the good kind that we want to be adding)–but not as many as we expected given the GM strike. This means other manufacturers added about 20k jobs to the labor force last month–that isn’t a bad result!

Here is a clip from the segment dissecting the jobs data: https://www.bloomberg.com/news/videos/2019-11-01/fed-can-pat-themselves-on-the-back-after-jobs-report-harvard-s-greene-video

Here is another clip with Kristin Dziczek (Center for Automotive Research) discussing the nitty gritty of the GM strike and the implications for the US economy: https://www.bloomberg.com/news/videos/2019-11-01/ford-avoids-a-strike-while-gm-s-impact-lingers-with-suppliers-video

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