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[0:00] ..." The nation's jobless rate has -- eight and -- half percent up from eight point 1% last month the highest since 1983. Labor Department says the work force shed another 663000. Jobs last month that's about three and a half million lost. In the last five months and joining us live this morning dale Jorgenson a Harvard University professor of economics professor -- always looking for silver linings you -- one in this report."...
[1:28] ..." plateau to -- Namely a bit of a turnaround in the housing market responsibilities are so I think retail sales during the last. A few months begun to plateau instead of declining. Those are signs"...
[1:58] ..." want to buy something. Professor thanks very much professor dale Jorgenson a Harvard University. "...
[0:00]" The nation's jobless rate has -- eight and -- half percent up from eight point 1% last month the highest since 1983. Labor Department says the work force shed another 663000. Jobs last month that's about three and a half million lost. In the last five months and joining us live this morning dale Jorgenson a Harvard University professor of economics professor -- always looking for silver linings you -- one in this report."
[0:21]" No I don't think so I think this is a pretty grim picture. And the a trend appears to be continuing. Very very sharp job losses. That's prevailed for the last quarter so there's no good news here I think this is certainly a continuation of a grim picture in the labor market."
[0:38]" If you had to predict a bottom -- win would become and just how bad would -- be."
[0:43]" I think as far as the labor market is concerned we're looking into connection here and there were twelve and 220 can. I think the economy the begin to turn around sometime later this year maybe during the late third quarter early fourth quarter. But it'll take jobs time to catch up and I think that we're neck and Anthony sizable gains in employment for. And other 912 months."
[1:06]" There's a so called lighting indicator of however the -- speaking of the economy recently. Are we perhaps overly optimistic -- of the Greenspan used to say about the on more today -- who he has or worsen that affect when we see for example the market there gaining some strength recently."
[1:23]" That's right. Well I think there are some signs that the economy is beginning to plateau to -- Namely a bit of a turnaround in the housing market responsibilities are so I think retail sales during the last. A few months begun to plateau instead of declining. Those are signs that the economy is not going to be. Into a freefall any longer in I think that that's certainly a good news but the employment this situation is grim and it's going to get worse."
[1:53]" as -- may be better on our side of the retail car but there may have be anybody on the other side to help us we want to buy something. Professor thanks very much professor dale Jorgenson a Harvard University. "
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